The price of foreign rice has trickled down significantly in major markets in Lagos State, partly attributable to the recent directive by the federal government of Nigeria to reopen the country’s land borders.
This is according to the latest market survey, carried out.
Nigerians may enjoy some respites going into the Christmas festivities as the price of a 50kg bag of Royal Stallion rice now sells for an average of N26,125 from an initial average of N30,333, representing a 13.9% decrease in price.
The survey further showed that a 50kg bag of Caprice reduced by 10.43% to sell for an average of N29,125 as against an initial average of N32,167 recorded in November 2020. Meanwhile, the price of local rice has remained sticky as a 50kg bag of Mama’s Pride sells for an average of N23,375. The report highlights information on items that witnessed price increase, price decrease, as well as information on special markets, and insights are tomatoes. beans, onions and pepper.