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

In a notable development, the prices of essential food items have decreased substantially across major markets in Nigeria, providing relief to consumers grappling with the high cost of living.

This trend is attributed to improved supply, favourable harvests, and strategic government interventions aimed at stabilizing food prices.​

According to ThisDayLive, at Lagos’s Mile 12 Market, the cost of a 50kg bag of rice has declined from between ₦90,000 to ₦95,000 in January 2025 to around ₦75,000 in March. This reduction of approximately 20% offers significant respite to households that heavily rely on rice as a staple food. ​

The price of a large basket of fresh tomatoes has seen a remarkable 70% decrease, dropping from ₦120,000 to ₦35,000 within the same period.

This sharp decline is expected to positively impact consumers’ budgets, especially those who regularly incorporate tomatoes into their daily meals. ​

The cost of a 4-liter paint container of garri has fallen by 28.5%, from ₦3,500 in January to ₦2,500 in March. Similarly, the price of a 60kg bag of garri now stands at ₦37,500. In Abuja and Onitsha, a large tuber of yam, previously sold for ₦5,500, now costs approximately ₦2,500, marking a substantial price drop. ​

The price of beans has decreased significantly, with a 50kg bag now selling for about ₦80,000, down from ₦105,000 in January.

This reduction of over 20% is particularly beneficial as beans are a primary protein source for many Nigerians. ​
Ecofin Agency

According to the National Bureau of Statistics, Nigeria’s food inflation rate slowed to 23.51% in February 2025, a significant decline from 37.92% in February 2024.

This positive trend is partly attributed to favourable harvests and effective government policies aimed at ensuring food security and price stability. ​

While many regions have experienced price reductions, some states have seen varying trends. For instance, Sokoto recorded the highest food inflation rate at 38.34%, followed by Edo at 35.08% and Nasarawa at 33.53%.

Conversely, Adamawa, Ondo, and Oyo states reported the lowest rates, highlighting the impact of local production and supply chain efficiencies on food prices. ​

However, there are calls for sustained government efforts to maintain price stability and address regional disparities to ensure equitable access to affordable food across the country.​