Federal Character
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion
No Result
View All Result
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion
No Result
View All Result
Federal Character
No Result
View All Result
Home Business & Finance

The Rising Cost of Rice in Nigeria: Implications and Solutions

Benita OrumabyBenita Oruma
April 1, 2024
in Business & Finance
0
The Rising Cost of Rice in Nigeria: Implications and Solutions
Share on FacebookShare on TwitterShare on Whatsapp

The escalating price of rice, a staple food in Nigeria, has raised significant concerns amidst people across the country.

Rice holds a central place in the heart of Nigerians when it comes to food. Consumed at least once a week in many households, it is also the most preferred for occasions and festivities.

However, the recent price surge has affected the financial capability of Nigerians, who either prepare meals at home or purchase food from different meal outlets and restaurants, transforming this essential staple into a luxury item, thereby making it especially challenging for low-income families to purchase food.

In major cities like Lagos and Ibadan, rice prices range from ₦1,300 to ₦1,400 per “de Rica” and ₦2,800 to ₦3,200 per “Congo” respectively.

To illustrate, an average family of five in Lagos, consuming two “de Rica” portions of rice twice a week, will likely spend between ₦11,000 to ₦14,000 monthly, totaling ₦130,000 to ₦160,000 annually solely on rice purchases.

The vice President of the Rice Farmers Association of Nigeria (RIFAN), Nnenna Ejim recently highlighted a number of factors that have contributed to the price hike. She complained of insecurity in the country, stating that farmers are scared to visit their farmlands due to recent concerns of kidnappings and unexpected killings, the farmer-herder crisis caused by the grazing of livestocks on farmlands. Increased input costs, and fluctuations in global markets, exacerbated by the Russian-Ukraine conflict affecting fertilizer supply.

The inability of farmers to harvest crops due to security concerns among other things have strained the availability of rice in the market. Additionally, challenges such as non-implementation of government policies, lack of insurance for farmers, and climate change impacts compound the situation.

Addressing these challenges requires concerted government efforts to ensure the safety of farmers and improve agricultural practices. Measures such as subsidizing inputs, including fertilizer and pesticides, promoting climate-smart agriculture, and enhancing security in farming communities are crucial steps towards stabilizing rice production and prices.

Through sustainable interventions, the government can alleviate the burden of rising rice costs and foster food security in the nation.

Tags: Businessfederal characterThe Rising Cost of Rice in Nigeria: Implications and Solutions
Benita Oruma

Benita Oruma

Benita Oruma is a lawyer in training, a 400 level student in the university of Ibadan. She is a content writer with interest in corporate affairs and the marketplace.

Related Posts

A Bleak Start to 2026 as Black Market FX Batters the Naira
Business & Finance

A Bleak Start to 2026 as Black Market FX Batters the Naira

January 12, 2026
A Bleak Start to 2026 as Black Market FX Batters the Naira
Business & Finance

A Bleak Start to 2026 as Black Market FX Batters the Naira

January 12, 2026
A Bleak Start to 2026 as Black Market FX Batters the Naira
Business & Finance

A Bleak Start to 2026 as Black Market FX Batters the Naira

January 10, 2026
Next Post
What’s The Color Of Your Fingernail Telling You?

What's The Color Of Your Fingernail Telling You?

Turkish Football Federation Summons Fenerbahçe’s Osayi-Samuel Over Post-Match Chaos

Turkish Football Federation Summons Fenerbahçe's Osayi-Samuel Over Post-Match Chaos

Finland School Shooting: Child Suspect Apprehended as Three 12-Year-Olds Sustain Injuries

Finland School Shooting: Child Suspect Apprehended as Three 12-Year-Olds Sustain Injuries

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Nigeria Alerts Citizens of Fresh Disease Outbreak, Urges Caution Regarding ‘Pomo’ Consumption

Nigeria Alerts Citizens of Fresh Disease Outbreak, Urges Caution Regarding ‘Pomo’ Consumption

3 years ago
Rivers State Helicopter Crash: All Eight Passengers Feared Dead

Rivers State Helicopter Crash: All Eight Passengers Feared Dead

1 year ago
Gaise Baba, Omoni Oboli Lead YouTube’s 2025 Nigeria Year-in-Review Rankings

Gaise Baba, Omoni Oboli Lead YouTube’s 2025 Nigeria Year-in-Review Rankings

1 month ago
Harry Kane Shuns Loyalty: Spurs’ Record Goalscorer Ditches Team for Bayern Munich’s Riches

Harry Kane Shuns Loyalty: Spurs’ Record Goalscorer Ditches Team for Bayern Munich’s Riches

2 years ago

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Relationship and Life
  • Sports
  • Tech

Topics

2023 Aboki/Bureau De Change (BDC) apc Arsenal buhari Business cbn chelsea china court Davido Dollar Efcc Election Entertainment Euro and Pounds To Naira Exchange Rate For Today exchange rates for the Nigerian Naira (NGN) Fashion federal character federal government Finance Football Foreign News government health inec Israel lagos Manchester United Naira Naira Black Market exchange rates News Nigeria pdp police Politics president protest Russia Sports tinubu trump UK ukraine US
No Result
View All Result

Highlights

Conflicting Accounts Emerge in Carter Efe–Emmanuella Split

Full List: Nigerian Artistes Who Won Big At AFRIMA 2026

A Bleak Start to 2026 as Black Market FX Batters the Naira

Is Femi Adebayo’s Formula Too Good to Be True?

Iran Warns US: Intervention Will Trigger Retaliation

A Bleak Start to 2026 as Black Market FX Batters the Naira

Trending

Rights Group Reveals Catastrophic Protest Death Toll in Iran
News

Rights Group Reveals Catastrophic Protest Death Toll in Iran

bySomto Nwanolue
January 12, 2026
0

A human rights group has shattered the official silence over Iran's latest unrest, revealing a catastrophic death...

Veteran Ugandan Leader Moves to Cement Legacy, Silencing Heirs

Veteran Ugandan Leader Moves to Cement Legacy, Silencing Heirs

January 12, 2026
Could This Be Uganda’s Final Chance to Escape a 40-Year 'Dictatorship'?

Could This Be Uganda’s Final Chance to Escape a 40-Year ‘Dictatorship’?

January 12, 2026
Conflicting Accounts Emerge in Carter Efe–Emmanuella Split

Conflicting Accounts Emerge in Carter Efe–Emmanuella Split

January 12, 2026
Full List: Nigerian Artistes Who Won Big At AFRIMA 2026

Full List: Nigerian Artistes Who Won Big At AFRIMA 2026

January 12, 2026

We launched Federal Character in February 2021 based on the belief that the world is in need of smarter and more efficient reporting of events shaping our rapidly changing world. We pledged to put our audience first, always.

Recent News

  • Rights Group Reveals Catastrophic Protest Death Toll in Iran
  • Veteran Ugandan Leader Moves to Cement Legacy, Silencing Heirs
  • Could This Be Uganda’s Final Chance to Escape a 40-Year ‘Dictatorship’?

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Relationship and Life
  • Sports
  • Tech

© FederalCharacter.com

No Result
View All Result
  • Home
  • News
  • Politics
  • Business & Finance
  • Entertainment
  • Sports
  • Tech
  • Relationship and Life
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
  • Opinion

© 2024 Federalcharacter.com