The Nation reports a notable decline in the prices of staple foods across parts of Nigeria, delivering relief to consumers while triggering concern among agricultural producers and intermediaries. In states including Ogun, Oyo, and Kwara, the price of a 50kg bag of rice was reported to have dropped substantially from previous peaks above N100,000.
The report linked the shift to a combination of improved yields and policy interventions, while noting that stakeholders differ on what is driving the price movement and whether the trend is sustainable. Some farmers and market middlemen argue they are being squeezed by sudden changes in market conditions.
The Punch and Tribune Online also reported on the changing dynamics, with The Punch highlighting easing inflation pressures, while Tribune Online emphasized producers’ complaints that selling prices may now be below cost.
Echotitbits take: Lower food prices are politically valuable for the federal government, but a producer-side backlash can translate into reduced planting next season. Watch for targeted support measures—credit, guaranteed offtake, input subsidies, or a “farmer support” package—to prevent a supply shock later in the year.
Source : Daily Post — https://dailypost.ng/2025/10/28/economists-explain-why-rice-price-drop-sparks-mixed-reactions-among-nigerians-traders/ 2026-01-24
Photo Credit: Daily Post
