The rising prices of essential food commodities like rice, beans, and tomatoes in Nigeria are a growing concern for consumers and policymakers alike.
The high cost of rice, beans, and tomatoes in Nigeria is multifaceted, involving economic, environmental, logistical, and policy-related challenges.
Amidst the increase in the price of food commodities, the United Nations has issued a stark warning that 82 million Nigerians, accounting for about 64% of the country’s population, could face hunger by 2030.
The UN has urged the Nigerian government to address climate change, pest infestations, and other threats to agricultural productivity to avert this crisis.
According to the National Bureau of Statistics, the country’s food inflation rate reached a record high of 40.66% in May 2024, surpassing the previous month’s increase of 40.53%.
This marks the largest year-on-year rise in food prices since records began in 1996. Historically, Nigeria’s food inflation has averaged 13.42%, with the lowest rate of -17.50% recorded in January 2000.
Nigerians will be hopeful that policies will be put in place that will help reduce the price of food commodities in the country.
Price Of Bag Of Rice
Foreign rice – ₦78,000
Nigerian Rice (Stone Free) And Foreign Rice Of All Kinds – ₦65,000
50kg Bag of Golden Rice Nigeria Rice – ₦75,000
Price Of Bag Of Beans
Brown Beans 50kg – ₦ 135,000
Price Of Bag Of Garri
1kg – ₦1,500
5kg – ₦7,500
10kg – ₦15,000
Tomatoes
A small basket of tomatoes sells for ₦6,500
A big basket of premium quality fresh tomatoes sells for around ₦45,000 to ₦70,000