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Insecurity: Local rice price jumps by 200%
20th April 2023

Bags-of-rice
Bags of rice. File photo

By
Sami Tunji
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Rising insecurity in the country, import ban and others factors have caused the price of one kilogramme of local rice to rise by 201.52 per cent in seven years, according to findings by The PUNCH.

This happened despite a multibillion naira funding support of the Central Bank of Nigeria for the nation’s rice value chain aimed at boosting production.

Data from the Selected Food Prices Watch Report of the National Bureau of Statistics analysed by The PUNCH showed that the average price of 1kg of local rice rose from N172.74 as of February 2016 to N520.84 as of February 2023.

In 2015, the CBN stopped the importers of rice and 41 other items from accessing foreign exchange at the official window in order to encourage local production.OLAM MILL NIGERIA

CHEAPER AND AFFORDABLE BEST QUALITY BAG'S OF RICE FOR SALES... CONTACT MARKETER on 07039172045 FOR MORE INFORMATION . PRICES BELOW▪PRICES OF 50KG per bags of rice below:
✅ROYAL UMBRELLA =20,500
✅MILAN GOLD =17,500
✅MAMA GOLD =20,000
✅ROYAL STALLION =20,500
✅RISING SUN =21,200
✅MAMA AFRICA =16,500
✅ROYAL CROWN =21,300
✅ADE BRAZIL =20,000
✅ELEPHANT GOLD =17,500
✅SUPER EAGLE =16,000
✅TOMATO RICE =18,500
✅CAPRICE =18,500
✅ BIG BULL = #20,500
✅MAMA PRIDE = #19,500
✅ ELEPHANT PRIDE = 16,000
✅ ANAMBRA RICE = #16,000
✅ OLAM RICE = #20,500
✅MILLED RICE = #14, 500
✅OFADA RICE = #16,500
✅ FALCON RICE = #16,000
✅ EBONYI RICE = #15,000
✅MAMA HAPPY RICE = #18,000
✅LABANA RICE = #15,500
✅ LAKE RICE = #17,000
--MAMA GOLD = #20,000
etc. NOTE : THERE MIGHT BE A CHANGE IN PRICE BECAUSE OF MARKET INSTABILITY . "ONE THOUSAND NAIRA IS FOR DELIVERY FEE TO ANY STATE IN NIGERIA . "
serious serious buyers should contact 07039172045. FOR MORE INFORMATION. Thank you...