Victor EzejaNigerians have countered a report claiming that there is a significant drop in the cost of rice in various parts of the country in recent times.
A report by S&P Global said the price of a 50kg bag of rice has dropped to ₦58,000 in some parts of Nigeria, especially in remote areas. The report linked the alleged drop to a surge in the importation of rice from the Republic of Benin in recent times. It said there has been an influx of parboiled rice into Benin Republic following India’s removal of export duties on parboiled rice, adding that from there, the commodity finds its way into the Nigerian market. This, the report said, has pushed the price of a 50kg bag of rice from ₦80,000 to ₦58,000.
Join our WhatsApp ChannelA report by The Punch quoted data from the Agricultural and Processed Food Products Export Development Authority of India, which revealed that the Asian country’s export of parboiled rice to West Africa surged from 3.9 million metric tonnes in 2023 to 5.35 million metric tonnes in 2024.
The report also cited data that indicated that India exported about 2.11 million metric tonnes of parboiled rice to West Africa between September and December 2024, indicating a significant jump from 720,000 metric tonnes in the same period of 2023.
However, some rice sellers who spoke to Prime Business Africa said that though there has been a drop in the price of rice of different sizes and qualities in the last two months, it is not as cheap as stated in the report.
A trader who sells rice and beans at Daleko Market in Mushin, Lagos, who identified her business name as Moni Stores, said they experienced a slight drop in the price of rice and some other food items like beans during the Ramadan fasting period.
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She said that as of early March this year, a 50kg bag of locally produced long-grain rice was sold between ₦97,000 and ₦95, 000, but “as of today, we are selling at ₦90,000, ₦89,000, and ₦88,000 per 50kg bag, depending on the quality,” she stated.
She said that there is no guarantee that the price of rice and other food items would continue to drop, as anything such as the increase in price of petrol or scarcity can cause a hike in transport fare, which affects the cost of things in the market.
Another dealer in food items, Mrs Patricia Oni, said there are different qualities of locally-produced rice, but the high-quality ones are sold at nothing less than ₦80,000 per 50kg bag. Oni said there are some brands of imported 50kg bags of rice that sell between ₦69,000 and ₦67,000.
“The price of foreign rice is not stable. It goes up and comes down due to the quantity supplied. Because they smuggle it through the border, at times, it becomes difficult for them to maneuver Nigerian Customs people,” she stated.
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Another rice dealer, Mrs Martina Ekeh, based in Enugu, admitted that the price of rice dropped in the last two months, but not as low as being reported, except if it is a very poor quality one. “We have different grades of local rice. Some are currently at ₦70,000, some ₦65,000 for local rice.”
On the claim that there are brands of imported rice that are currently cheaper than locally produced ones, Mrs Ekeh warned that people should be careful about what they buy from the market. According to her, “there are some locally-produced brands of rice that are packaged as foreign rice. The main original foreign is more expensive.”
“There are different kinds of foreign rice. There are some that you buy, cook from now till tomorrow, it remains strong, while there are some that no matter the quantity of ingredients you use in preparing, it won’t be as delicious as desired.”
Also, Nigerians took to social media to counter the report of a massive drop in price of rice. While some said it is not true, others said the price varies with locations and the merchants.
“In the city of Benin, Edo state, they still sell for 90-100k, never seen such an act of wickedness or is their rice different from the ones been sold at other states?? Nawa,” an X user, Amb Iyayi Moses with handle, @ObasIyayi stated.
An X user, akol, said, “I bought a bag of foreign rice for N87k last month in Daleko, Lagos.”
“It is a big lie o because I priced a half bag of long grain rice and it was N45,000 while 50kg is N90,000. Make a stop, this Lies, another X user, @Jokerclownn, wrote.
“I bought rice on Friday, 85k in Mile 12. is it that we derive joy in telling lies?” an X user identified as Undiluted Facts with X handle, @Irene stated.
“This is not true. Indian small grain(agric) is the cheapest, and it sells between 60-65k. Long grain Thailand is still at 80-85k. Indian long grain like My Choice and Diva sells at 75-80k. Nigerian still sells 70-85k depending on the brand. Make your report factual,” Toochukwu Abosi with handle @Toochukwu_Abosi stated.
“I bought a bag of rice today at Mararaba for N68,000 in a warehouse. Other shops sold between N70,000 and N75,000. Any price higher than N20,000 is not worthy of celebration,” Mfon Udoema @MfonUdoema stated.
“This news is puzzling and troubling at the same time, if it is true. Why are rice imports cheaper than rice produced in Nigeria, even with the devaluation of the naira?” Ebi Bomodi asked.
Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.
