In an effort to make rice more affordable, sachets of rice have reappeared on the Nigerian market amid a surge in staple food prices.
A 50kg bag of local rice now costs between N78,000 and N90,000, depending on location and brand—prices well above the average Nigerian’s monthly income.
Although the minimum wage in Nigeria is now set at N70,000, many private and public institutions have yet to implement it, making rice increasingly unaffordable for many households.
To address this, Big Bull, a local rice producer, has introduced rice in sachet packs priced at N200 each, making it more accessible to Nigerians.
A July report by the National Bureau of Statistics (NBS) documented the ongoing rise in food prices.
According to NBS, as of June 2024, the average price of 1kg of brown beans sold loose was N2,292.76, marking a 252.13% increase from N651.12 in June 2023 and a 14.11% rise from N2,009.23 in May 2024.
Similarly, tomato prices surged, with a 320.67% year-on-year increase from N547.28 in June 2023 to N2,302.26 in June 2024. On a monthly basis, tomato prices rose by 55.59%, from N1,479.69 in May to N2,302.26 in June.
The price of 1kg of white Garri increased by 181.66% year-on-year, from N403.15 in June 2023 to N1,135.51 in June 2024, with a slight 1.86% rise on a monthly basis.
The cost of yam also saw a substantial increase, with a 295.79% rise from N510.77 in June 2023 to N2,021.55 in May 2024, and a month-on-month increase of 52.87% from N1,322.36 in May to N2,021.55 in June.
Regional data showed that the highest average price of 1kg of tomatoes was recorded in Abuja at N3,992.61, while the lowest was in Kebbi State at N1,200. Yam tubers sold highest in Lagos at N3,376.54 per kg, with the lowest price found in Adamawa at N1,100.
Gombe state reported the highest average price for 1kg of white Garri at N1,619.27, while Taraba had the lowest at N900.