Rice prices have reduced in major markets across Nigeria, bringing relief to households.A
A 50kg bag of local rice now sells between ₦55,000 and ₦70,000, down from higher prices earlier in the year, depending on location and quality.
In Lagos, government-supported locally milled rice is selling for about ₦57,000 per 50kg.
The price drop is linked to increased supply from local harvests and imports, as well as improved market availability.
While consumers welcome the reduction, some traders and farmers say profit margins are shrinking.
