The Lagos State government has officially pegged the price of a 50kg bag of locally milled rice at ₦57,000, offering a boost to consumers ahead of the festive season. Governor Babajide Sanwo-Olu said the move is aimed at making high-quality, locally produced rice more accessible and affordable.

Farmers’ associations, including the All Farmers Association of Nigeria (South-West and Lagos chapters), have welcomed the development and predict further declines in rice prices. They argue that the official pricing will heighten competition in the market, potentially driving prices lower in the coming months.

Imported rice currently sells for between ₦52,000 and ₦56,000 per bag, though farmers warn that some imported varieties may be of lower quality or older stock. Lagos-milled rice, they say, offers a more reliable alternative for consumers seeking quality.

Market analysts suggest that if supply remains consistent and competition continues, Lagos residents could benefit from more affordable rice during the Christmas season, providing relief amid rising living costs. Visit www.jocomms.com for more news.