To make rice more accessible to Nigerians, small sachets of rice priced at N200 have been reintroduced into the market. This initiative comes in response to the skyrocketing costs of rice, a staple food in Nigeria, which has seen a significant increase over recent months.
Currently, a 50kg bag of locally produced rice ranges from N78,000 to N90,000, depending on location and brand. This price surge places a considerable burden on Nigerian households, as the average cost of a bag now surpasses many citizens’ monthly earnings. Although the minimum wage has been raised to N70,000, numerous public and private organizations have yet to implement this change, making rice increasingly unaffordable for many families.
Recognizing this challenge, Big Bull, a local rice producer, has started offering smaller, more affordable sachets to cater to the needs of the population. Priced at N200 per sachet, these packages provide a more accessible option for people across the country, allowing them to continue consuming rice despite rising costs.
This price increase is not limited to rice alone. In July, a report from the National Bureau of Statistics (NBS) highlighted a widespread increase in food prices nationwide. For example, as of June 2024, the average price of 1kg of brown beans rose to N2,292.76, marking a 252.13% year-on-year increase from N651.12 in June 2023 and a 14.11% increase from N2,009.23 in May 2024. Likewise, tomatoes have experienced a similar rise; the average price of 1kg reached N2,302.26 in June 2024, a 320.67% increase from N547.28 in June 2023. From May to June alone, the cost of tomatoes increased by 55.59%.
Other essential foods have also seen dramatic price hikes. The cost of 1kg of white garri, for instance, has risen by 181.66% year-on-year, climbing from N403.15 in June 2023 to N1,135.51 in June 2024. Yam prices have similarly surged, with 1kg of yam tuber up by 295.79% year-on-year, from N510.77 in June 2023 to N2,021.55 in June 2024. On a month-to-month basis, the average price rose by 52.87% from May to June.
The highest prices for essential food items vary by state. In Abuja, the price of 1kg of tomatoes reached a high of N3,992.61, while Kebbi State recorded the lowest at N1,200. Similarly, 1kg of yam tubers sold at the highest price in Lagos at N3,376.54, compared to the lowest in Adamawa at N1,100. Gombe recorded the highest average price for 1kg of loose white garri at N1,619.27, while Taraba had the lowest at N900.
As food prices continue to climb, sachet packaging for staple foods like rice provides a practical solution, offering a small measure of relief to Nigerian households struggling to afford essential items amid rising inflation.
