It is a few weeks to the end of the year, and once again, Nigerian families are set to gather and make merry with sumptuous meals.
However, this year could be different from previous years due to the high cost of rice, which is a key part of an average Nigerian household’s festive menu.
According to market surveys, the price of a 50kg bag of rice now ranges from N80,000 to N120,000, depending on the brand and location.
Here is a snapshot of the prices of rice brands:
A 50kg bag of Mama Gold rice, according to Stephen, a trader at Ojo Market, Lagos, now sells for N88,000, up from its previous price of N75,000.
This is another popular rice brand that is considered premium. The cost of a 50kg bag ranges between N80,000 and N110,000, depending on the grain type and seller’s location.
Big Bull Rice is a product of Wacot Rice Limited and is known for its high quality. A check on Jiji shows that a 50kg bag of the brand is advertised at N98,000 to N108,000, depending on the seller and grain type.
Olam Group’s Mama’s Choice is marketed as a premium rice option processed in Nigeria. Currently, a 50kg bag costs N102,000.
Another offering from Olam Nigeria, Mama’s Pride, is widely regarded for its quality. The price of a 50kg bag ranges between N98,000 and N100,000, influenced by location and seller.
Earlier, TimesNow.com.ng reported that the National Bureau of Statistics had revealed states where residents pay more to buy rice.
According to the bureau, the average price of 1kg of local rice sold loose went up to N1,944.64 in October 2024.
Kogi recorded the highest average price of 1kg of local rice at N2,693.41, while the lowest was reported in Benue at N1,267.25.
Proofread by Kola Muhammed, journalist and copyeditor at TimesNow.com.ng
Source: TimesNow.com.ng
