By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Current Price of 50kg Rice Bag in Nigeria Today – 11th May 2024 [Major Brands]
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
Featured

Current Price of 50kg Rice Bag in Nigeria Today – 11th May 2024 [Major Brands]

Okay.ng
By Okay.ng
Published: May 11, 2024
Share
3 Min Read
SHARE

Rice is a staple food in Nigeria, consumed by millions daily and playing a significant role in the country’s culture and cuisine. With the fluctuating economy and the ban on rice importation, the prices of rice have seen various changes.

Contents
What is the Average Price of a 50kg Rice Bag in Nigeria?How Do Prices Vary Across Different Locations in Nigeria?What Factors Influence the Price of Rice in Nigeria?Why is There a Price Difference Between Local and Foreign Rice Brands?Are There Any Government Policies Affecting Rice Prices?

Let’s delve into the current prices of a 50kg rice bag from major brands in Nigeria as of 10th May 2024.

What is the Average Price of a 50kg Rice Bag in Nigeria?

The average price for a 50kg bag of rice in Nigeria varies depending on the brand and location. As of May 2024, prices range as follows:

  • Mama Gold Rice: ₦85,000 — ₦90,000
  • Royal Stallion Rice: ₦85,000 — ₦95,000
  • Rice Master Rice: ₦85,000 — ₦90,000
  • Caprice Rice: ₦90,000 — ₦95,000
  • Nigerian Rice (Local): ₦85,000 – ₦90,000

How Do Prices Vary Across Different Locations in Nigeria?

Here’s a table showing the price variations of a 50kg rice bag across key locations in Nigeria:

- Advertisement -

LocationPrice Range (₦)
Abuja87,000
Lagos85,000
Jos, Plateau State80,000
Ilorin, Kwara State78,000
Ibadan, Oyo State78,000
Port Harcourt, Rivers State85,000
Bodija Market, Ibadan90,500
Dawanau Market, Kano85,850
Gombe Market, Gombe State85,600

What Factors Influence the Price of Rice in Nigeria?

Several factors influence the price of rice in Nigeria, including:

  • Seasonal fluctuations: Prices can change depending on the time of year, with certain seasons bringing higher prices due to increased demand.
  • Exchange rates: As a country that used to import a significant amount of rice, exchange rates can affect the cost of rice.
  • Local production: With the growth of rice farming in states like Kebbi, local production has impacted prices.
  • Market dynamics: Supply and demand, as well as market competition, play a role in determining rice prices.

Why is There a Price Difference Between Local and Foreign Rice Brands?

The price difference between local and foreign rice brands can be attributed to:

  • Importation costs: Foreign brands incur additional costs due to importation taxes and transportation.
  • Quality perception: Some consumers perceive foreign brands as being of higher quality, which can drive up the price.
  • Availability: Local brands are more readily available due to domestic production, which can make them more affordable.

Are There Any Government Policies Affecting Rice Prices?

Yes, government policies such as the ban on rice importation have been implemented to encourage local production and self-sufficiency. This has led to a shift in the market and affected prices.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:Bag of Rice
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByOkay.ng
Follow:
Okay.ng launched under OKN MEDIA PUBLISHING (RC Number: 2993580) in the year 2012 is an independent digital news platform with thousands of page views and unique visitors every month
Previous Article First Bank Dollar to Naira Exchange Rate Today in Nigeria – May 11, 2024
Next Article Current Retail, Wholesale Prices of Cement in Nigeria Today – 11th May 2024

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Okay.ng Logo

Parallel Market Rates

USD
Buy₦1,540.00
Sell₦1,560.00
GBP
Buy₦2,148.00
Sell₦2,180.00
EUR
Buy₦1,740.00
Sell₦1,800.00

Updated: 13 hours ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

0.00
ShareShareShare

Rates are for informational purposes only.

Okay.ng Logo Parallel Market Rates
USD
Buy
Sell
GBP
Buy
Sell
EUR
Buy
Sell
| okay.ng
- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

JAMB Registrar, Is-haq Oloyede
Nationwide Fingerprint Fraud Scandal Uncovered in JAMB CBT Centres, Imo and Anambra Lead
Education News
Senator Natasha Akpoti-Uduaghan
Senator Natasha Akpoti-Uduaghan Explains Delay in Senate Return Amid Legal Nuances
News
ADC Asserts Neutrality Amidst Political Realignments, Denies Bias in Presidential Race
Politics Top stories
Nigeria Union of Teachers
FCT Teachers to Resume as NUT Suspends Over Three-Month Strike
Education
Boladale Odunlami, Commercial Manager, Nestlé Nigeria; Olabisi Joseph, President, Nigeria School Sports Federation (NSSF); and Ifeanyichukwu Orabuche, Category Manager, Beverages, Nestlé Nigeria, pose with the triumphant Father O’Connell Science College team after they clinched the male championship title at the 25th MILO Basketball Championship held at the Indoor Sports Hall, National Stadium, Lagos.
25 Years of Impact as Nestlé’s MILO Basketball Championship Shapes Nigeria’s Future Champions
Sport
- Advertisement -
Ad imageAd image

You May Also Like

Education

New Admission Benchmarks Set to Standardise Tertiary Entry Across Nigeria

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
July 8, 2025
Dangote Refinery
Energy & Oil

Dangote Refinery Cuts Petrol Price Again to ₦820 Per Litre, Expands Distribution Network

Muhammad A. Aliyu
Muhammad A. Aliyu
July 8, 2025
David Mark
Politics

2027: ADC Has No Preferred Presidential Aspirant – David Mark

Muhammad A. Aliyu
Muhammad A. Aliyu
July 8, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?