NewStats: 3,263,467 , 8,180,221 topics. Date: Friday, 06 June 2025 at 04:54 AM 3n46i

The increasingly high cost of production, transportation and other factors have caused the price of one kilogramme of local rice to jump by 73.2 per cent in one year, according to findings by The PUNCH.

This happened despite a multi-billion naira funding of the Central Bank of Nigeria for the nation’s rice value chain aimed at boosting production and stopping the importation of foreign rice.

Rice, a staple food widely consumed in Nigeria, has been rising in price despite its production locally. The commodity now sells for between N55,000 and N60,000 for a 50kg bag, depending on the area of purchase.

Data from the selected food prices watch report of the National Bureau of Statistics analysed by The PUNCH showed that the average price of 1kg of local rise rose by 73.2 per cent from N500.80 to N867.20 between November 2022 and November 2023.



When compared vis-a-vis with the price of 1kg of foreign imported rice, the NBS noted an increase of 61.53 per cent from N704.13 to N1,137, within the same period.

It was also observed that local rice was sold at the highest in Lagos State at the cost of N1,122.42 despite the operation of the 32-tonne per hour Lagos Rice Mill in Imota, which produces the Eko Rice brand and lowest at Kebbi State at the price of N688.

The PUNCH recalls that during the inauguration and at other fora, Governor Babajide Sanwo-Olu boasted that the mill would address rice importation as it had an annual paddy requirement of over 240,000 tonnes to produce 2.5 million 50kg bags of 50kg per annum.


Commenting on the high price of local rice, the National President of the All Farmers Association of Nigeria, Kabir Ibrahim, in an interview with our correspondent on Wednesday, blamed the high price on inflation and its attendant heightened cost of production, adding that logistics, packaging and labour cost also contributed significantly to the rise in the price of local rice.

Kabir, however, disputed the figures projected by the NBS, arguing that it’s unrealistic and not market based.

He said, “The cost of production has always been very high due to various factors. Transportation is a factor and it became a very serious threat to pricing after the removal of the fuel subsidy. If you are buying a bowl of milled rice, the miller has to provide its own power, pay workers’ salaries and discount the cost of his machinery. He has to do packaging alongside transportation costs. so it’s definitely going to be costlier than imported rice that’s not edible in Thailand.

“Two, the farm gauge price is far different from the prices in the market and three markets stand out and should not be used as parameter for pricing. The price you get in Lagos, Abuja and Port-Harcourt, they are not good indices. There is already an apathy against imported rice because people have now realised the one with better quality and those countries selling it cheap are doing so just to get rid of it.

“However, I think a 70 per cent increase by the NBS is not realistic and too high. The bureau may be carrying out these information but I tell you the prices are bit cheaper than what is reported. If you go to real markets and ntoit artificial ones. to put things correctly, there is definitely food inflation and it is skyrocketing but if we go by these commodities, we are likely to be lying to our selves and the general public.”

“The past istration invested a lot in rice production and i think they should be applauded. We used to import rice to the tune of trillions but that has changed,” he added.

In a related development, Nigeria and other countries across the West Africa region are projected to see increased prices of staple foods such as rice, maize, millet, cereals, etc in 2024.


This is according to a report titled “West Africa Regional Supply and Market Outlook” published tly by the Food and Agricultural Organisation, World Food Program, and others.

https://punchng.com/local-rice-price-rise-73-in-12-months-nbs/

...ebi n pa wa o

This is what I don't like. Foreign rice cheaper than local rice.

Its not good at all. What's the need for growing our own, if it's more costlier than the foreign ones

Let it reach N2500 per kg.
Rice farmers will emerge until prices crash again.
The pain is the bandits and thugs taxing rice farmers and retailers.

Tochi3:
...ebi n pa wa o

use your own language. If the harvest skull now, you go shout.

CodeTemplar:
use your own language. If the harvest skull now, you go shout.

u be skullar

..i dont know why you dey vex..am just helping to bring Thief'nubu 's attention

Tochi3:
u be skullar

lol...academic skullar o.

very expensive

CodeTemplar:
lol...academic skullar o.

Ok o academic skullar no bad..i think say you be the other skullar..i mean the sophisticated one

Buhari and his goons are the most dumbest people that ever existed on the surface of the earth.

He eventually scammed his gullible f00lz with the rice pyramid scheme that never existed

Nigeria, a nation filled with evil hypocrites, manipulators and exploiters.

Nigeria na mmm

Local production of rice and restricting importation of foreign rice were policies that were supposed to promote and build the Nigerian economy. Unfortunately, excessive greed among local farmers and failure of govt have made this impossible. Nigerians cannot continue to die in silence because of greedy farmers and bad govt policies. The govt should completely remove any form of restriction on rice importation so that Nigerian farmers will have strong competition, this is what will bring down the price of rice, it happened before, rice was cheaper when foreign import removed arrogant attitude from Nigerian farmers

This is Nigeria.

G

I don’t think our leader want it to come down,

They banned importation of rice to grow rice locally. Local rice farming is not successful, we are still buying foreign rice with exorbitant prices due settlement for custom and co.

Please can’t FG allow free importation of rice as local rice farm is not successful

They said PDP misruled Nigeria for 16 years, Nigerians hand over to APC and they successfully did 50 years damaged to Nigeria in just 8 years.

Imagine a bag of rice rising from 7/8k to 60k in less than 8 years... That's like the worse recession in the world.

Nigeria is heading to doom, a bag of rice may cost 200k+ before 2027.

Reason why sane Nigerians didn't want to vote APC (Tinubu) in the first place.

Those that knew him as the governor of Lagos State knew that he brought nothing but filth, excuses, broken promises and death!

What he has is black print and not blue print

Many of those that collected correct money to rig him in are mostly living outside Nigeria

It is well!!!

Why wouldn't it rise..?

When we don't produce enough

The farmers have all abandoned the farm due to insecurity..

And the useless Government won't lift the embargo on Rice importation..

A bag of rice will soon be 100k..

What a bulablu

APC IS A CURSE TO NIGERIA

ITS LEADERS AND ERS INCLUSIVE

May Allah bless that bro wey give me half bag of rice!
May Allah forgive that bro wey give me half bag of rice.
May Allah guide that bro wey give me half bag of rice!

Rice that we buy $18 for 25kg here. May God help Nigeria.

Wahala

So when is it rising to 100%

Na our people

Someone please ask for my details

Me and my kids have nothing to eat

God please use someone as you did with Elijah and the widow

.

Hmm.
Shey na Government increase am or the citizens who are extremely selfish. Some lied that they are producing not knowing that they import and rebagged it. As wicked they are sell it cheaply as it was imported then but they decide to sell high due to higher demands .

Same thing with market people. Everybody justifying wrong to live...
Nigerians are greedy no amount of law will curb a greedy person. It is an attitudinal thing.
Greedy will still.be justifying wrong. Only to extort .