NO MORE N70, 000 Per 50kg! ! Nigerians Recieves EXCITING News As Price For Bag Of Rice Drop; See NEW Rate
Nigerians are beginning to experience relief in the food market as the price of rice, one of the country’ s most widely consumed staples, has dropped significantly. Legit. ng has confirmed that the current market price of a 50kg bag of rice has fallen from N85, 000 to N65, 000, following recent market activities.
According to findings by Legit. ng, the sudden reduction in price is largely attributed to the arrival of a fresh shipment of rice at Nigerian ports. Rice dealers disclosed that the influx of this large consignment has increased availability in the market, creating healthy competition among sellers and ultimately driving prices down. This development comes as good news for consumers grappling with the soaring cost of living in recent months.
It would be recalled that in February 2025, the market experienced a similar decline when rice prices briefly fell below N70, 000 per 50kg bag after a series of imports and local harvests improved supply. However, prices surged again in March, with a bag of rice rising to over N80, 000 due to limited supply and increased demand during festive periods and other economic factors.
Dealers who spoke with Legit. ng expressed confidence that the current price cut might be sustained for a while if steady supply continues and further consignments are cleared at the ports. They also noted that a combination of relaxed import restrictions and improved domestic production has begun to ease the pressure on the food market.
