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Independent market surveys across major markets have shown declines in prices of basic food items, raising optimism on ongoing efforts to address food insecurity across the country. The prices of various grains, including maize, rice, millet, sorghum, beans, flour, and soybeans, have experienced a significant decline in key producing regions.
A 50kg bag of rice is priced at N87,000 in Abuja, N85,000 in Lagos, N80,000 in Jos, Plateau State, N78,000 in Ilorin, Kwara State, N78,000 in Ibadan, Oyo State, and N85,000 in Port Harcourt, Rivers State. “The cost of rice has fallen to N75,000, while imported ones are available for N99,000,” said Onyeka Abia, a foodstuff vendor in Mushin.
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In October of the previous year, the average cost of a 50kg bag of local parboiled rice was N105,000. Abia attributed the increase in the price of foreign parboiled rice to fluctuations in foreign exchange rates, while urging the government to assist impoverished Nigerians.
The price of beans has also seen a notable reduction, now ranging from N85,000 to N95,000 per bag, down from N100,000. Additionally, maize prices have decreased, with 100kg bags now costing approximately N47,000, a drop from N70,000 to N75,000.
Despite the decline in grain prices, the costs of groundnut, cocoa, yam, Irish potatoes, and oils remain relatively elevated. A 50kg bag of flour, which was priced at N80,000 last year, now ranges between N61,000 and N63,000, depending on the market.
“The reduction in food prices has come to stay,” said Otunba Femi Oke, Chairman of All Farmers Association of Nigeria (AFAN), Lagos Chapter. “The government has rolled out a series of measures aimed at stabilising prices, including increasing food stock releases.”
Senator Abubakar Kyari, Minister of Agriculture and Food Security, promised a crash in prices, while unveiling measures that would bring down food prices in the course of 180 days. “We will temporarily suspend duties, tariffs, and taxes on the importation of select food products through both land and maritime borders,” he said.
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Innocent Mokidi, Chief Executive of Brote Urban Vegetable Farm & Processing Limited, attributed the decline in prices to the influx of imported food products. “Significant players in the industry, along with the government, have engaged in extensive importation of staple foods into the country,” he said.
Muhammed Augie, former chairman of the Rice Farmers Association in Kebbi State, endorsed the government’s actions to address food inflation. “However, these initiatives may fall short in providing a sustainable solution,” he said. “The importation of food items is not a good development for the nation’s agriculture.”
The Minister of Agriculture and Food Security, Senator Abubakar Kyari, called upon retailers to acknowledge the decrease in food prices and to refrain from taking advantage of consumers. “Their indifference in adjusting their prices despite the overall decline is unpatriotic and unacceptable,” he said.
He made the call during the 2025 Wheat Farmers Green Field Day held in Dabi village, located in the Ringim Local Government Area of Jigawa.
In December last year, there was a modest decline in the price of beans. The cost of the commodity fell to approximately N100,000 per bag from N120,000, varying by type. Earlier months had seen a 100kg bag of beans priced as high as N150,000 to N140,000 due to a scarcity of supply.
In April last year, the average price for a 50-kilogramme bag of rice in Lagos, Abuja, and Ogun decreased to N67,000, down from around N90,000 in February. In the Agege and Oshodi markets, rice prices dropped to between N65,000 and N63,000, in contrast to the prices of N75,000 to N80,000 observed in December 2023 and January 2024.
For instance, in border communities of Ogun such as Imeko, Idiroko, and Oja-Odan, a bag of rice was available for approximately N49,000 or less. Since October, rice prices have surged beyond the financial reach of many Nigerians. Long grain rice, which was priced between N42,000 and N50,000 in the middle of last year, escalated to N80,000 in January, prompting significant concern among consumers.
In Oshodi, a bag of rice was purchased for between N74,000 and N76,000 in December 2023, and it was sold for N83,000 in December of the previous year. The decline in food prices has been attributed to various factors, including the gradual return of farming activities in areas affected by insurgency, leading to an increase in food production volume in the country.
The government’s efforts to address food inflation have been welcomed by stakeholders, but there are concerns that the measures may not provide a sustainable solution. The importation of food items has been identified as a temporary solution, but it may not address the underlying issues affecting the country’s agriculture sector.
As the government continues to grapple with the challenges of food insecurity, it is clear that a sustainable solution will require a multifaceted approach. This includes investing in the country’s agriculture sector, providing support to farmers, and implementing policies that promote food security and sustainability
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