Dealers Release New Rice Prices, Data Shows N15,000 Reduction
- 50kg imported long-grain rice recorded the steepest decline among all categories tracked between January and September 2026
- Nigerian manufactured rice and imported short-grain varieties also fell across both 50kg and 25kg bag sizes during the period
- The August-to-September comparison revealed a shift in the market that analysts say could signal a new trend for rice prices
PAY ATTENTION: Find it fast with our new search feature at Legit.ng!
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
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%.
Source: Getty Images
Nigerian manufactured rice in the same bag size dropped from N60,000 to N53,000, while imported short-grain rice declined from N60,000 to N51,000 over the same period.
Rice price movements across bag sizes
Smaller bag sizes followed a similar downward pattern. A 25kg bag of Nigerian manufactured rice fell from N30,000 in January to N26,500 in September.
Imported long-grain rice in the same size declined from N35,000 to N27,500, and imported short-grain rice dropped from N30,000 to N25,500.
At the retail end of the market, a 4.15kg measure of imported long-grain rice fell from N7,000 to N4,600, while the same measure of imported short-grain rice came down from N6,500 to N4,200 over the nine-month window.
August to September: Rice prices
The pace of decline slowed considerably when comparing August and September figures.
Nigerian manufactured rice held at N53,000 per 50kg bag across both months, and imported short-grain rice remained unchanged at N51,000.
Imported long-grain rice, however, fell a further N1,500, from N56,500 in August to N55,000 in September.
In the 25kg segment, Nigerian manufactured rice dropped N500 to N26,500, while imported long-grain rice shed N750, settling at N27,500. Imported short-grain rice in that size held steady at N25,500.
Movements in the smaller retail quantities were mixed.
Nigerian manufactured rice in the 4.15kg size stayed at N4,500 in both months. Imported long-grain rice in that category edged down marginally from N4,650 to N4,600, while imported short-grain rice moved in the opposite direction, rising from N4,000 to N4,200.
Source: Getty Images
For the 0.75kg derica measure, all three varieties were flat month-on-month: Nigerian manufactured rice at N1,000, imported long-grain at N1,300, and imported short-grain at N800.
September 2026 rice prices
- Nigerian manufactured rice, 50kg: N53,000
- Imported long-grain rice, 50kg: N55,000
- Imported short-grain rice, 50kg: N51,000
- Nigerian-manufactured rice, 25kg: N26,500
- Imported long-grain rice, 25kg: N27,500
- Imported short-grain rice, 25kg: N25,500
- Nigerian manufactured rice, 4.15kg (1 paint): N4,500
- Imported long-grain rice, 4.15kg (1 paint): N4,600
- Imported short-grain rice, 4.15kg (1 paint): N4,200
- Nigerian manufactured rice, 0.75kg (1 derica): N1,000
- Imported long-grain rice, 0.75kg (1 derica): N1,300
- Imported short-grain rice, 0.75kg (1 derica): N800
Nigerians pay 4x more to cook a pot of jollof
Earlier, Legit.ng reported that the cost of preparing a pot of jollof rice has jumped by more than 400% in every geopolitical zone in Nigeria over the past decade, according to a new report by SBM Intelligence titled "Rebasing, Redefining, and the Weather's Toll on the Pot."
The report uses the Jollof Index, which has tracked the price of key ingredients needed to cook the meal since 2016, to show how persistent food inflation has weakened household purchasing power across the country.
Source: Legit.ng
