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

Amidst growing economic hardship, Nigerians are eagerly awaiting a policy change under President Bola Tinubu’s administration that could lead to reduced prices for food commodities.

Recent times have seen individuals, both young and old, raiding warehouses and trucks to access foodstuffs, driven by soaring prices.

Amid these challenges, renowned Nigerian economist, Bismark Rewane has offered a glimmer of hope, forecasting a decline in the prices of essential food items like rice and bread in the near future.

Rewane attributes this anticipated relief to the effective monetary policies of the Central Bank of Nigeria (CBN), which he believes are set to positively impact the economy and curb the inflationary pressures on food prices.

Highlighting the current economic trends, Rewane mentioned that there are already observable signs of improvement in food and core inflation rates.

He specifically noted a downward trend in the price of rice and projected a further decrease following the Ramadan period. Similarly, the cost of bread is reportedly on a decline, with expectations of continued reduction.

This prediction comes as a crucial indicator of potential economic recovery, offering hope to many Nigerians grappling with the cost-of-living crisis.

If these forecasts materialize, they could mark a significant turn in the nation’s fight against inflation and economic hardship, easing the financial burden on countless households.

Price Of Bag Of Rice

The price of foreign rice ranges from N75,000 to N85,000, while Perboiled rice sells between N60,000 to N84,000.

Stoned free Nigerian rice stands around N65,000 to N70,000

Price Of Bag Of Beans

* White Beans – 50kg (N60,500)

* Brown Beans – 50kg (N60,000)

* Honey beans – 50kg (N75,000)

* White Beans – 100kg (N120,000)

* Brown Beans – 100kg (N120,000)

* Honey beans – 100kg (N150,000)

Price Of Bag Of Garri

* Ijebu Garri – 50kg (N40,000 to N53,000)

* Normal white garri – 50kg (N43,000)

* Yello Garri – 50kg (N45,000)