The Lagos State Government has reduced the price of Lagos rice to N57,000 per 50kg bag, down from the previous N64,000, a move aimed at easing the burden on consumers ahead of the yuletide season.
Eko Hot News reports that farmers in Lagos State have welcomed the decision, predicting that competition in the sector may push rice prices even lower in the coming weeks. Sakin Agbayewa, Vice Chairman of the All Farmers Association, South-West and Lagos State chapter, said the new price is a strategic move that will benefit both consumers and local farmers.
“Currently, foreign rice sells for between N52,000 and N56,000 per bag, depending on location and transport costs. However, much of this rice may be stored for years or of lower quality. Lagos rice at N57,000 provides better quality and value,” Agbayewa explained.
Similarly, Raphael Hunsa, Chairman of the Rice Farmers Association of Nigeria, Lagos State chapter, praised the initiative, noting that government support for local farmers can boost production, stabilize supply, and help reduce staple prices further.
“The Lagos State Government is always proactive in policy decisions that affect the people. With increased production and stable supply, prices of rice and other staples will continue to fall. This move ensures families can celebrate Christmas without worrying about high rice costs,” Hunsa added.
