Rice Prices Drop by ₦15,000 as New 50kg Bag Rates Emerge Across Nigeria

• Imported long-grain rice fell ₦15,000 per 50kg bag between January and September 2026, according to a market survey
• AGRA data show Nigeria’s average milled rice price dropped 31.8% year-on-year in August
• Price relief remains uneven, with Lagos rice costs rising and food inflation easing to 19.57%

Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.

Nigerian households are beginning to see significant relief in the price of rice, with new market data showing that some varieties have dropped by as much as ₦15,000 per 50kg bag since the beginning of 2026.

A market survey published in September showed that a 50kg bag of imported long-grain rice, which sold for about ₦70,000 in January, had dropped to ₦55,000 in September.

That represents a decline of ₦15,000, or 21.4%, in nine months, making imported long-grain rice one of the biggest movers among the varieties tracked.

The development comes as separate data from the Alliance for a Green Revolution in Africa (AGRA) showed an even sharper year-on-year decline in the average price of milled rice.

Rice prices fall sharply

According to AGRA's latest Food Security Monitor, Nigeria's national average price of milled rice declined by 6.9% month-on-month to ₦616.94 per kilogramme in August.

The average price was also 18.4% lower than six months earlier and a substantial 31.8% below its level a year earlier.

AGRA linked the decline to improved supplies and reduced pressure in the market. Nigeria also recorded the lowest rice price among the West African markets monitored when measured in dollar terms.

The improvement is significant for households because rice remains one of Nigeria's most widely consumed staples.

Source: September 2026 dealer/market survey.

Latest market data show prices vary widely

However, the latest available market tracking suggests that the decline is not uniform across Nigeria.

ArketData's September 23 figures put the median price of foreign rice at ₦66,000 per 50kg bag across 12 Nigerian markets, with a typical range of ₦58,750 to ₦70,000.

Prices ranged from ₦48,500 at Ifo Market in Ogun State to as much as ₦110,000 at Effurun Market. The data indicate that foreign rice prices have been broadly stable over the past 90 days rather than continuing to crash.

For Nigerian rice, the national market tracker showed a median of about ₦54,000 in the week beginning September 21, compared with ₦55,000 during several weeks in August and early September. Prices ranged from roughly ₦45,000 to ₦65,000, according to a survey by Legit.ng.

Lagos consumers face a different picture

Lagos is one market where consumers have recently faced renewed pressure.

A BusinessDay survey published in late September found that a 50kg bag of foreign parboiled rice was selling for around ₦68,000, compared with ₦58,000 in July. Local parboiled rice was selling for about ₦61,000.

The Lagos figures show why the current trend is better described as a major year-to-date price correction rather than a nationwide price crash.

Food inflation provides some relief

The broader food inflation picture is also improving.

The National Bureau of Statistics reported that Nigeria's food inflation eased to 19.57% in August from 20.31% in July, while month-on-month food inflation dropped sharply to 1.02% from 5.56%.

Headline inflation also eased marginally to 15.39% in August from 15.43% in July.

Despite the relief, prices remain vulnerable to transportation costs, insecurity, production challenges and changes in rice import policy.

For consumers, the numbers nevertheless point to a significant improvement from earlier levels: a family buying imported long-grain rice at the surveyed September price would spend about ₦15,000 less on a 50kg bag than in January.

Whether that relief continues into the final quarter of 2026 will depend largely on harvest supplies, logistics costs and how the government manages the balance between cheaper food for consumers and protection for Nigerian rice farmers.

Dealers release new rice prices

Legit.ng earlier reported that rice prices across major categories in Nigeria fell sharply between January and September 2026, with imported long-grain rice recording the largest drop of any variety tracked over the nine months.

A 50kg bag of imported long-grain rice sold for N70,000 in January but came down to N55,000 by September, a fall of N15,000 or 21.4%.