Living Cost Alert: Staple Foods Climb Again – Rice, Beans, Tomatoes All Skyward

Nigerians are beginning to experience some respite at the markets as the cost of essential food items—such as rice, beans, tomatoes, and other household staples—has seen a noticeable decline in recent weeks.

This welcome change comes after months of soaring food prices that had made it difficult for many families to afford daily meals.

Rice Price Falls from ₦80,000 to ₦58,000

Among the most significant changes is the drop in rice prices. A 50kg bag of rice, once sold for as much as ₦80,000, is now available for approximately ₦58,000 in many parts of the country.
Traders credit the reduction to increased supply from local rice mills, the current harvest season, and reduced transport costs.

Beans Prices Drop from Record Highs

Beans, which reached a staggering ₦240,000 per 100kg bag in 2024, have also become more affordable. Prices now range between ₦80,000 and ₦120,000 depending on the type and location.

Tomato Prices Tumble to ₦3,000 Per Basket

Tomatoes, once priced as high as ₦10,000 per small basket, now cost as little as ₦3,000 in several markets, thanks largely to seasonal abundance.

Other Prices:

• Pepper (small basket): ₦6,000

• Beef (per kg): ₦6,500

• Chicken (per kg): ₦6,000

These price reductions are a welcome relief for consumers, although many still hope for long-term economic stability to sustain the downward trend.