Rice stands as a fundamental dietary staple in Nigeria, ingrained in the daily consumption habits of millions and deeply woven into the fabric of the nation' s culture and culinary traditions. The economic landscape, characterized by its volatility, coupled with the prohibition on rice importation, has rendered the pricing of rice subject to a spectrum of fluctuations.

What is the Average Price of a 50kg Rice Bag in Nigeria? The pricing of a 50kg bag of rice in Nigeria exhibits variance contingent on the brand and geographical location. As of May 2024, the pricing spectrum stands as follows:

Mama Gold Rice: ₦85, 000— ₦90, 000

Royal Stallion Rice: ₦85, 000— ₦95, 000

Rice Master Rice: ₦85, 000— ₦90, 000

Caprice Rice: ₦90, 000— ₦95, 000

Nigerian Rice (Local): ₦85, 000– ₦90, 000.

How Do Prices Vary Across Different Locations in Nigeria? An illustrative tableau delineates the variance in pricing of a 50kg rice bag across pivotal locations in Nigeria:

Location Price Range (₦)

Abuja 87, 000

Lagos 85, 000

Jos, Plateau State 80, 000

Ilorin, Kwara State 78, 000

Ibadan, Oyo State 78, 000

Port Harcourt, Rivers State 85, 000

Bodija Market, Ibadan 90, 500

Dawanau Market, Kano 85, 850

Gombe Market, Gombe State 85, 600.

What Factors Influence the Price of Rice in Nigeria? The pricing of rice in Nigeria is subject to the sway of several influential factors, encompassing: Seasonal fluctuations: The oscillations in prices correspond with seasonal shifts, with heightened demand during specific periods influencing price adjustments.