Price Of Bag Of Rice, Beans, Tomatoes, Other Food Commodities This Week

As of January 31, 2025, Nigeria continues to experience significant increases in the prices of staple food items, a trend that has been escalating over the past year.

Below is an overview of the current prices for key commodities:

Rice:

A 50kg bag of rice is currently selling between ₦78,000 and ₦96,000, depending on the brand and quality.

Beans:

A 50kg bag of brown beans from Maiduguri is priced at approximately ₦90,000.

Sweet pure butter beans (50kg) are available for around ₦160,000.

Tomatoes:

A big basket of fresh derica tomatoes is selling for about ₦160,000.

A medium-sized basket of fresh tomatoes is priced at approximately ₦95,000.

Garri:

A 50kg bag of garri is available for around ₦55,000.

Palm Oil:

A 5-litre gallon of palm oil is selling for approximately ₦10,500.

Spaghetti:

A carton of Golden Penny Spaghetti (500g × 20) is priced at about ₦28,000.

Factors Influencing Price Increases:

Several factors have contributed to the surge in food prices:

Flooding: Torrential rains and floods in 29 of Nigeria’s 36 states have destroyed more than 1.5 million hectares of cropland, affecting over nine million people. This has significantly disrupted food production and supply chains.

Currency Depreciation: The weakening of the naira has increased the cost of imported goods and agricultural inputs, contributing to higher food prices.

Inflation: Overall, inflationary trends have further exacerbated the cost of living, making staple foods less affordable for many Nigerians.

Impact On Households:

The surge in food prices has led to increased food insecurity, with approximately 25 million Nigerians currently facing acute food and nutrition insecurity—a number expected to rise to 33 million by mid-2025.

These escalating prices pose significant challenges for Nigerian households, particularly those with fixed or low incomes, as they struggle to afford basic food items.