The cost of rice has risen sharply across major Nigerian markets, with a 50kg bag of foreign rice now fetching as much as N90,000 in Abuja, according to Daily Trust. The surge has prompted concerns about further price hikes as the festive season approaches. A market survey conducted by Useagrios revealed that some foreign rice brands in Abuja jumped from N68,000 to N90,000 within just one week, while prices in Lagos also remained elevated throughout the period.
The spike is raising fears that locally produced rice could become more expensive as the two categories compete for consumers in the market. A national market price report by Useagrios showed that the average price of a 50kg bag of rice across 37 markets nationwide stood at N79,207 as of November 9, 2026. In Lagos, the price at Mile 12 Market was N85,744, while Abuja's Garki Model Market recorded N84,443. Other markets also posted high prices, including Oil Mill Market in Rivers State at N83,530, Ogbeogonogo Market in Delta State at N82,835, and Swali Market in Bayelsa State at N82,797. Kaduna Central Market recorded one of the lowest prices at N74,600 per 50kg bag.
The report indicated that the national average had increased by 11.8 per cent within six days, although most of the prices were modelled estimates rather than direct market observations. Meanwhile, a separate survey in Abuja showed a sharper increase in foreign rice prices, with some retailers reporting that a bag previously purchased for N68,000 was now selling for N90,000. A provision seller in Lugbe told Daily Trust he was surprised by the latest increase when he visited the market to restock last Thursday. He explained that the product initially sold for N65,000 before rising to N68,000, only to climb to N90,000 within a week. 'I couldn't buy it as it was beyond my budget, so I had to buy a different brand for N80,000,' he said. 'This is a product I didn't buy before, but the price increase made me buy it at that moment.'
He noted that locally produced rice had yet to reflect a similar increase, with most selling between N63,000 and N65,000 per 50kg bag. He expressed concern that local rice prices could also rise if foreign rice prices remained high, given the competition between the two products. He added that a local measure of foreign rice had increased to N2,800 from N2,300. In Ilorin, Kwara State, a retail rice seller, Mrs Ajoke Tunde, said the prices continue to fluctuate across markets, with local brands selling as much as N65,000 from N55,000 and N58,000 per 50kg bag.