Food Prices Drop Across Major Nigerian Markets as Rice Leads Marginal Gains — The Bureau News
By Queen Madaki | The Bureau News
According to Daily Price Trend data analysed by The Bureau News, food prices across key Nigerian markets have experienced a sharp decline, with the average cost of essential staples dropping by nearly 14% between November 2024 and September 2025. Despite the general downward trend, imported rice recorded a mild 4.9% increase, becoming one of the few commodities to rise during the period.
Overview of the Nigerian Food Price Trend — Nigeria News Today
From the analysis of the data covering November 2024 to September 2025, brown beans, maize, yam, and sorghum suffered the steepest declines, each losing over 20% in average market value. Analysts attribute this to seasonal harvest gluts and import competition, especially in northern grain-producing states.
In contrast, imported rice showed a rare resilience, gaining slightly from ₦2,253 per kilogram in November 2024 to ₦2,363 as of late September 2025. This moderate rise, analysts say, is due to fluctuating import costs and naira volatility at the ports.
Top Food Items: Price Movement Summary
| Food Item | Start Price (₦) | Latest Price (₦) | Change (₦) | % Change |
|---|---|---|---|---|
| Imported rice | 2,253 | 2,363 | +110 | +4.9% |
| Soyabeans | 1,577 | 1,516 | -61 | -3.9% |
| Local rice | 1,841 | 1,724 | -117 | -6.3% |
| Garri | 906 | 834 | -71 | -7.9% |
| White beans | 2,067 | 1,780 | -286 | -13.9% |
| Yam | 2,037 | 1,669 | -368 | -18.1% |
| Brown beans | 2,380 | 1,828 | -552 | -23.2% |
| Sorghum | 1,337 | 1,024 | -313 | -23.4% |
| Maize white | 1,281 | 978 | -303 | -23.6% |
| Maize yellow | 1,323 | 1,006 | -317 | -24.0% |
Market Insights and Consumer Reactions
Speaking with The Bureau News, traders at the Mile 12 Market in Lagos and Wuse Market in Abuja noted that while some grains have become cheaper, the costs of logistics and fuel remain high, limiting consumer relief. “We are selling more volume but making less profit,” said a rice dealer at Mile 12.
Economists say this trend reflects a “price correction” after months of inflation-driven spikes earlier in 2024. The continued fall of local produce prices may, however, challenge smallholder farmers during the next planting cycle.
“The general food basket shows a 13.9% decline, with staples like maize and beans leading the fall,” said a data analyst at The Bureau News, adding that consumer demand remains steady despite the downward pressure.
Sidebar: Related Market Updates
- Nigeria’s Economy Outlook — Reuters
- Bloomberg Africa Economic Brief
- Business and Market Reports — The Bureau News
- WHO on Global Food Security
Source: Daily Price Trend Dataset (Nov 2024 – Sept 2025)
Mini Food Price Table (as of September 2025)
| Market | Rice (₦/kg) | Beans (₦/kg) | Maize (₦/kg) | Yam (₦/kg) |
|---|---|---|---|---|
| Mile 12, Lagos | 2,360 | 1,830 | 980 | 1,670 |
| Wuse Market, Abuja | 2,370 | 1,820 | 990 | 1,660 |
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