See more top 5 cheapest, most expensive states to buy rice in Nigeria

The cost of buying rice has slightly reduced across markets in the country in the last few months, but prices are still high for many householdsNigerian billionaires Aliko Dangote and Rabiu Abdulsamad have both made moves to help lower the price of riceResidents of Imo, Abia, Kwara and Akwa Ibom are among the states with the highest prices for riceLegit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

There is a significant drop in global rice prices, which have fallen to their lowest levels in several years.

According to data gathered from a Reuters poll Indian parboiled rice export prices hit a 22-month low, a month after Delhi lifted the final export restrictions on the grain imposed in 2022.

Rice price in Nigeria has reduced
Photo credit: Bloomberg/contributor
Source: Getty ImagesIn Vietnam, prices fell to almost five-year lows, while in Thailand, they dropped to their lowest point in almost three years.

According to traders and industry leaders, prices have found a floor after plunging by about one-third from their 2024 peaks.

However, they are expected to remain at this level for the remainder of 2025, constrained by surpluses in all significant exporting nations.

Rice price in Nigeria dropNigeria being an importer continue to benefit from the reduction in global rice prices.

Nigeria imported $7.26 million worth of rice in 2023, ranking 158th in the world for rice imports. These imports came primarily from the United States, Thailand, Benin, the United Arab Emirates, and India.

India ($5.9M), the United Arab Emirates ($743k), Thailand ($307k), Benin ($101k), and the United States ($95.4k) were Nigeria’s top rice importers in 2023.

Between 2022 and 2023, Nigeria’s rice imports from India ($2.87M), the United Arab Emirates ($291k), and Thailand ($119k) grew at the fastest rates.

New rice price emerge at marketsA survey by Legit.ng found that the price of rice now sells between N75,000 and N85,000, depending on the brand.

Some months ago, consumers had to have between N85,000 to N95,000 to afford a bag.

The first time the commodity sold below N70,000 per 50kg bag was in February this year when the dealers had reported another influx.

Hope rises for lower price of rice
Photo credit: Bloomberg/contributor
Source: Getty ImagesNBS data shows the states with the highest and lowest rice prices per KG

Top 5 most expensive states to buy rice in Nigeria (average price per kg)

Imo: N2,223Akwa Ibom: N2,215Abia: N2,121Rivers: N2,085Cross River: N2,081Bottom 5 least expensive states to buy rice in Nigeria (average price per kg)

Kwara: N1,075Gombe: N1,103Ogun: N1,148Niger: N1,152Plateau: N1,156Dangote moves to crash rice pricesEarlier, Legit.ng reported that Nigeria’s efforts to reduce food prices has received another major boost as Africa’s richest man, Aliko Dangote, unveiled a multi-billion naira rice production initiative in Niger state.

This is coming days after fellow billionaire Abdul Samad Rabiu vowed to continue crashing rice prices across the country.

Speaking at the opening of the 2025 Niger National Trade Fair in Minna, Fatima Abdurrahman, senior special adviser to the president of Dangote Group, said the conglomerate is developing a 32-metric-tonnes-per-hour rice mill on a 30-hectare site in Wushishi.

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Source: Legit.ng