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

Published

3 months ago

Jan 18, 2025.

Nigerian food prices soar due to inflation and floods.
Over 25 million Nigerians face acute food insecurity.
Rice, beans, and tomatoes see significant price hikes.

As of January 17, 2025, staple food prices in Nigeria have surged dramatically due to inflation, currency depreciation, and widespread flooding that has devastated farmlands.

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EKO HOT BLOG reports that these factors have compounded food insecurity, affecting millions across the country.

Key Factors Behind Price Increases

Flooding: Heavy rains and floods in 29 of Nigeria’s 36 states have destroyed over 1.5 million hectares of farmland, disrupting food production and supply chains. More than nine million people have been directly affected.
Currency Depreciation: The weakening naira has driven up the cost of imported goods and agricultural inputs, adding to food prices.
Inflation: The rising inflation rate has further elevated the cost of living, making staple foods unaffordable for many Nigerians.

Impact on Households
Food insecurity has worsened, with approximately 25 million Nigerians currently facing acute food and nutrition shortages. This figure is projected to rise to 33 million by mid-2025, amplifying concerns over the nation’s food crisis.

Current Food Prices

Rice: A 50kg bag ranges from ₦78,000 to ₦96,000, depending on brand and quality.
Beans: A 50kg bag of brown beans from Maiduguri costs about ₦90,000, while sweet pure butter beans sell for around ₦160,000.
Tomatoes: A big basket of fresh derica tomatoes is priced at ₦160,000, with medium-sized baskets going for approximately ₦95,000.
Garri: A 50kg bag is available for around ₦55,000.
Palm Oil: A 5-litre gallon sells for approximately ₦10,500.
Spaghetti: A carton of Golden Penny Spaghetti (500g × 20) is priced at about ₦28,000.
Price Of Food

The combined effects of environmental disasters, economic instability, and inflation have significantly impacted food prices in Nigeria, exacerbating hunger and poverty. Urgent measures are needed to stabilize food production, strengthen supply chains, and address the growing crisis.