Hardship: Rice Prices Hit ₦100,000 per Bag – Reports

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The price of rice has surged again, signaling more hardship for Nigerians. A survey in Lagos markets reveals that some brands of rice now sell for as high as N100,000 per bag, while others are slightly lower, around N65,000-N85,000.

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Dealers attribute the price hike to the presumed end of the 150-day duty-free import window for essential food items. Millers allege that the presidential initiative, announced in July 2024, was conducted in secrecy, with only a few firms benefiting from the waivers.

“From what we know so far, (only) three big firms, including one in Lagos and another in Kaduna, are said to be beneficiaries of the waivers,” said Peter Dama, Chairman, Board of Trustees, Competitive African Rice Forum, Nigerian Chapter.

Dama criticised short-term measures like waivers, saying they harm local rice farmers, millers, and marketers. “Long-term measures to support them are what the nation needs to ensure food security,” he added.

Rice dealers in Lagos expressed frustration, describing the situation as dire. “Honestly, I can’t understand Nigeria’s system again. We are frustrated. A bag of short-grain rice has gone as high as 85k, and the long grain sells between 90k and as high as 100k, and it’s still going up,” said Bolatito Yunisa, a rice dealer at Daleko Market.

Another dealer, Bukola Osagie, lamented, “It’s not funny at all. I don’t even know how families are surviving. Price keeps flying up. We now sell in Derica measurement because many people cannot afford to buy a bag of rice anymore.”

The price increase has left many Nigerians struggling to afford this staple food.

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