The cost of rice has continued to soar in Nigeria, making it difficult for salary earners to meet up. In different markets, a bag of Nigerian rice (50kg) now costs between N40,000 to N55,000, according to findings. This is up from N30,000 to N35,000, sold as of year-end in 2022.

Foreign rice, however, costs more. A bag of foreign rice is sold between N45,000, N46,000 (small rice), and N55,000 (big rice) at a retail price, depending on the type. As of the time of this report, some online stores also quote a 50kg bag of rice for N55,000.

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