The price of rice in Nigeria has skyrocketed from ₦2,500 in 2000 to ₦105,000 in 2024. Discover the reasons behind the surge, including policy shifts, insecurity, and economic instability. Introduction The price of rice, Nigeria’s most consumed staple food, has witnessed an astronomical rise over the years. From ₦2,500 per 50kg bag in 2000 to […]
The cost of locally grown paddy rice is projected to rise by about 55% during the 2024/2025 season, further intensifying the already high cost of living, according to a new report. The Afex Wet Season Crop Production 2024 report, obtained by Nairametrics, reveals a consistent upward trend in rice prices. It notes that during the […]
