The cost of rice, a crucial staple in Nigeria, has surged by 98.47% over the past year, making it increasingly unaffordable for many Nigerians.
This rise is attributed to the scarcity of paddy rice in the country, impacting the prices of local parboiled rice.
In Lagos, Nigeria’s commercial hub, a recent market survey reveals the current prices of 50kg bags for popular rice brands:
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Mama Gold Rice: Retailers in Lagos report a price hike to about N78,500, making Mama Gold a preferred choice due to its relative affordability.
Royal Stallion Rice: Produced and packaged by the Stallion Group, Royal Stallion is a top choice among Nigerians, but specific pricing details are not provided.
Mama’s Choice Rice: Produced by Olam Group, Mama’s Choice is considered a premium brand, attracting Nigerian patronage for its cleanliness and rarity of stones. It is sold between N87,000 and N90,000 per 50kg.
Elephant Rice: A popular Nigerian brand, Elephant Rice, produced inRivers State, is highly patronized in the south-south region of Nigeria. Specific pricing details are not mentioned.
The surge in rice prices in Nigeria is primarily driven by a 98.47% increase in grain prices over the past year, fueled by the scarcity of paddy rice.
Notably, Mama Gold Rice is now priced at approximately N78,500 per 50kg in Lagos, gaining favor for its relative affordability.
Royal Stallion Rice, produced by the Stallion Group, remains a top choice, while Mama’s Choice Rice from Olam Group, priced between N87,000 and N90,000 per 50kg, is valued for its cleanliness.
Elephant Rice, a popular brand in Nigeria’s south-south region, has also seen increased patronage.
