N200 Rice Sachets Hit Nigerian Markets As Bag Goes For N100,000

The alarming surge in the price of rice has forced manufacturers to reintroduce sachets of the staple food into Nigerian markets.

With a 50kg bag of local rice now retailing between N78,000 and N90,000—and in some places exceeding N100,000, many households have turned to sachets as a lifeline.

Osun Defender gathered that this move aims to make rice affordable for low-income earners who have been priced out of the market by the skyrocketing cost of the staple.

Reports indicate that the rising cost of rice has been fueled by inflation, unfavorable economic policies, and disruptions in local production since the start of President Bola Tinubu’s administration for many Nigerians earning below the newly approved minimum wage of N70,000 which several institutions are yet to implement buying a bag of rice has become a luxury.

The National Bureau of Statistics (NBS) recently reported alarming increases in the prices of other food items.

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According to the report, the price of 1kg of beans rose by 252.13% from N651.12 in June 2023 to N2,292.76 in June 2024. Similarly, the price of 1kg of yam tuber jumped by 295.79% from N510.77 to N2,021.55 within the same period.

Tomatoes also saw a significant rise, with Abuja recording the highest price of N3,992.61 per kilogram, while Kebbi State reported the lowest at N1,200. Garri prices were no different, with Gombe leading at N1,619.27 per kilogram and Taraba offering the lowest price at N900.

While many commend the initiative as a timely intervention, others lament the state of the economy that has reduced Nigerians to purchasing rice in small, daily portions.

However, experts warn that this measure is not a long-term solution to the food crisis, urging the government to prioritise policies that address inflation and boost local food production.