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How Much is Bag of Rice Price in Nigeria?

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How Much is Bag of Rice Price in Nigeria?

Rice remains a vital part of the Nigerian diet, and its price fluctuations have a significant impact on households. As of today, March 30th, 2024, staying informed about the current rice prices per bag is crucial for informed buying decisions.

Current Rice Prices in Nigeria (March 30th, 2024):

While the overall dynamic nature of rice prices remains the same, here’s a breakdown of current prices for popular brands and varieties, highlighting the significant increase:

  • Mama Gold:
    • 50kg Bag: ₦85,000 – ₦90,000 (Nigerian Naira)
    • 25kg Bag: ₦40,500 – ₦45,000
    • 10kg Bag: ₦20,500 – ₦25,500
  • Royal Stallion:
    • 50kg Bag: ₦85,000 – ₦95,000
    • 25kg Bag: ₦40,500 – ₦45,000
    • 10kg Bag: ₦20,500 – ₦25,500
  • Rice Master:
    • 50kg Bag: ₦85,000 – ₦90,000
    • 25kg Bag: ₦40,500 – ₦45,000
  • Caprice:
    • 50kg Bag: ₦90,000 – ₦95,000
    • 25kg Bag: ₦45,500 – ₦50,500

Other Rice Varieties and Market Prices:

  • Nigerian Rice: ₦85,000 – ₦90,000 (per 50kg bag)
  • Falcon Rice (25kg): ₦25,500 — ₦35,000
  • Basmati Rice (5kg): ₦20,500 — ₦35,500
  • Ofada Rice (5kg): ₦18,500 — ₦25,500 (per 5kg bag)

Read Also: 100 Dollars to Naira Black Market Exchange Rate Today 30th March 2024

Market Prices in Key Locations:

It’s important to consider location-based variations. Here are some examples:

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  • Bodija Market, Ibadan (Oyo State): ₦90,500 (per 50kg bag)
  • Dawanau Market, Kano (Kano State): ₦85,850 (per 50kg bag)
  • Gombe Market, Gombe State: ₦85,600 (per 50kg bag)

Prices in other major cities like Lagos, Abuja, Jos, Ilorin, Port Harcourt, and Sokoto can range from ₦85,000 to ₦95,500 for a 50kg bag.

Important Note: These prices are estimates and may vary depending on specific brands, quality, and location. It’s always recommended to check with local retailers for the most up-to-date pricing.

Finding the Best Deals on Rice in a High-Price Market:

Given the current market situation, here are some revised tips for navigating your purchases:

  • Shop around extensively: Due to significant price variations, extensive comparison between markets, supermarkets, and online retailers is crucial.
  • Explore local options: Local rice might be a more cost-effective alternative, especially during harvest. Focus on reputable local suppliers who prioritize quality.
  • Consider smaller quantities: If bulk buying isn’t feasible due to storage limitations, consider purchasing smaller quantities to manage your budget.
  • Stay alert for special offers and discounts: While these might be less frequent in a high-price market, keep an eye out for promotions around holidays or weekends.

Staying Informed about Rice Prices:

The resources mentioned previously remain valuable for staying updated on rice price trends:

  • Commodity Market Websites: Regularly check online platforms tracking commodity prices, including rice.
  • Government Websites: Nigerian government agencies might publish data on rice prices. Pay attention to any updates.
  • News Reports: Local news outlets often report on fluctuations in rice prices. Look for recent articles.
  • Market Surveys: Market research firms might conduct surveys on rice prices across different regions. Check for any recently published reports.
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