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Rice prices crash in Lagos markets, traders count losses as consumers rejoice

Published

11 months ago

October 26, 2025

Rice prices crash in Lagos markets, traders count losses as consumers rejoice

LAGOS – The price of rice has dropped significantly across major markets in Lagos, bringing relief to consumers but leaving many traders grappling with losses and uncertainty.

A market survey conducted by the News Agency of Nigeria (NAN) revealed that a 50kg bag of rice now sells for between ₦55,000 and ₦70,000, depending on the brand and location. This marks a sharp decline from earlier in the year when local rice sold for as high as ₦85,000 and foreign brands peaked at ₦95,000.

The price crash has been attributed to a surge in imports following the reopening of land borders, as well as improved local harvests and increased supply from northern states.

In markets such as Oyingbo, Arena (Oshodi), Festac Town, and Mile 12, traders confirmed that both local and imported rice brands have seen a steep drop in prices since August.

At Arena Market, Mrs. Precious Okoro, a rice dealer, lamented the impact on her business. “We are selling at a loss. I bought several bags at ₦80,000 and ₦85,000 earlier this year, and now I have to sell them for as low as ₦65,000. The fall came suddenly, and it’s been tough for us,” she said.

She added that while consumers are pleased, traders are struggling to recover their capital. “Rice doesn’t spoil easily, but when prices crash like this, our money is tied down. Some of us can’t even restock,” she said.

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At FESTAC Town Market, Mrs. Edith Nwaruh listed current prices: Pretty Lady at ₦57,000, Mama Africa at ₦62,000, Mama Gold at ₦67,000, and Big Bull Premium at ₦73,000. She noted that the decline began in August due to increased supply.

“We have more rice in the market now. Local production improved, and imports also increased. When there’s too much supply, prices must drop,” she said.

Mr. Odion Michael, a trader at Mile 12 Market, described the situation as a “double-edged sword.” “Consumers are happy, but traders are weeping. We want prices to be stable, not jumping or falling suddenly. Price stability helps us to plan our business,” he said.

A rice farmer who spoke on condition of anonymity linked the development to the reopening of land borders, which has allowed more rice to enter the country from neighbouring producers. He warned, however, that the current price drop may not be sustainable and that prices could rise again before December due to market volatility.

Mr. Ben Chidi, a trader at Oyingbo Market, said improved supply and reduced stockpiles contributed to the glut. He credited government support for local farmers and better distribution channels for the current situation.

Consumers, on the other hand, are expressing relief. Mrs. Andriana Okoromaro said the drop was timely. “At least, rice is affordable again. I used to buy a half bag because it was too expensive. Now, I can buy a full bag for the family. It’s a big relief,” she said.

Mrs. Oluwaseun Alade said she hoped the prices would remain low during the festive season. “Rice is essential during Christmas and New Year. This drop, if sustained, means more families can celebrate without worry,” she said.

However, Mrs. Ngozi Okolie pointed out that reduced purchasing power is also playing a role in the price drop. “People don’t have much money, even with lower prices. The economy is slow, so even when goods are cheap, sales are not what they used to be,” she said.

While the current trend has brought temporary relief to households, stakeholders are calling on the government to implement policies that will ensure price stability and support for local producers to sustain the gains and protect traders from future shocks.

Rice prices crash in Lagos markets, traders count losses as consumers rejoice

(NAN)

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Fatal NURTW Leadership Clash in Osun Leaves Two Dead; State Orders Park Shut Down

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3 hours ago

September 15, 2026

Hamdalat Bisiriyu

Fatal NURTW Leadership Clash in Osun Leaves Two Dead; State Orders Park Shut Down

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Lagos Power Outage: Ikeja Electric Blames TCN as Businesses, Homes Groan

Published

6 hours ago

September 15, 2026

Trends Admin

Lagos Power Outage: Ikeja Electric Blames TCN as Businesses, Homes Groan

Residents and businesses in several parts of Lagos are enduring prolonged power outages, with Ikeja Electric attributing the disruption to significant constraints on the Transmission Company of Nigeria (TCN) network.

The development has triggered frustration among electricity consumers who say the prolonged blackout is disrupting household activities and commercial operations, while increasing their dependence on generators and other alternative sources of power.

Ikeja Electric, one of Nigeria’s largest electricity distribution companies, said the situation was caused by a reduction in the amount of electricity available to it from the transmission network.

According to the company, the transmission constraints have affected the volume of power it can distribute to customers across parts of its franchise area, resulting in extended periods of load-shedding.

The company said it was engaging with TCN over the situation and was working to improve supply to affected communities as soon as additional transmission capacity becomes available.

The latest disruption has affected customers in several parts of Lagos, with residents in areas including Akoka, Egbeda, Ojodu Berger, Ogudu and Shomolu reporting prolonged interruptions.

Some residents said electricity supply had been unavailable for several consecutive days, while others reported intermittent restoration followed by further outages.

The disruption has also affected small businesses and households that rely heavily on electricity for daily activities.

Business operators such as barbers, hairdressers, food vendors, cold-room operators, charging-centre owners, internet-dependent businesses and other small enterprises have been particularly affected by the unreliable supply.

For many households, prolonged outages have also affected refrigeration, water pumping, phone charging, internet access and other basic activities that depend on electricity.

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The situation has forced some residents and businesses to increase their use of generators, adding to operating costs at a time when fuel and other energy expenses remain high.

Some consumers have also resorted to commercial charging centres and other paid alternatives to keep phones, rechargeable devices and business equipment operational.

The latest disruption comes amid continuing challenges across Nigeria’s electricity value chain, where problems involving generation, gas supply, transmission infrastructure and distribution networks can affect electricity availability to consumers.

TCN operates the country’s transmission network, while electricity distribution companies such as Ikeja Electric are responsible for delivering available power to customers through their distribution networks.

This distinction is significant in the latest Lagos outage because Ikeja Electric has attributed the immediate supply shortfall to constraints on the transmission network, rather than announcing a fault affecting its entire distribution system.

Power interruptions in Lagos, however, have previously resulted from different causes.

Parts of the state have experienced outages linked to distribution equipment faults, infrastructure damage, planned maintenance and other incidents affecting electricity infrastructure.

Earlier disruptions in Lagos have also been associated with incidents such as tanker fires damaging electricity infrastructure, while transmission maintenance and constraints have caused supply reductions in other instances.

The varying causes mean that the duration and geographical spread of an outage can differ significantly from one community or electricity feeder to another.

Ikeja Electric has apologised to affected customers over the latest disruption and said it understands the difficulties caused by the reduced supply.

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The company said it was monitoring developments and engaging relevant stakeholders in an effort to restore improved electricity supply.

The latest development has again highlighted concerns over the vulnerability of Lagos residents and businesses to fluctuations in electricity supply.

For many small businesses, prolonged blackouts mean additional spending on diesel or petrol-powered generators, while households face similar costs when alternative electricity sources are required.

The disruption also comes at a time when businesses are already dealing with high operating costs, making extended reliance on generators an additional financial burden.

Consumers have increasingly called for more reliable electricity supply and better coordination among the different operators in Nigeria’s power sector.

The TCN, generation companies and distribution companies form interconnected parts of the electricity supply chain, meaning a constraint at one stage can quickly affect consumers downstream.

For Ikeja Electric customers, the immediate expectation is that transmission constraints will ease and supply will gradually improve across the affected feeders.

Until then, residents and businesses in the affected areas may continue to experience irregular electricity supply depending on available transmission capacity and the operational condition of individual distribution feeders.

The latest outage has therefore renewed the debate over Nigeria’s long-standing electricity challenges and the need for sustained investment in power generation, transmission and distribution infrastructure to provide more stable electricity for homes and businesses.

For Lagos, where thousands of businesses depend on electricity for daily operations, prolonged outages carry consequences beyond inconvenience, affecting productivity, household welfare and the cost of doing business.

Ikeja Electric said it would continue to provide updates as the situation develops and work with TCN to improve supply to affected customers.

Lagos Power Outage: Ikeja Electric Blames TCN as Businesses, Homes Groan

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Sokoto Shuts Mosque After Cleric Stabbing, Names Ulamas Probe Panel

Published

7 hours ago

September 15, 2026

Trends Admin

Sokoto Shuts Mosque After Cleric Stabbing, Names Ulamas Probe Panel

The Sokoto State Government has ordered the immediate closure of the Musa Lukuwa Jumu’at Mosque in Mabera, Sokoto metropolis, after a cleric was stabbed during Friday prayers and his attacker was killed by an angry mob.

The mosque, which the government describes as a crime scene, will remain shut until further notice. A committee of Islamic scholars (Ulamas) has also been constituted to investigate the remote and immediate causes of the incident and recommend measures to prevent a recurrence. The announcement was contained in a statement issued on Tuesday by the Director General, Media and Publicity, Government House, Abubakar Bawa.

The crisis began on Friday, September 11, 2026, shortly after Malam Musa Lukuwa led the Jumu’at prayer. A young man among the worshippers attacked the cleric, stabbing him twice in the neck and left hand. Worshippers overpowered the suspect and beat him to death before security operatives could arrive. Police spokesman DSP Ahmad Rufa’i confirmed that the cleric was rushed to the Specialist Hospital in Sokoto, where he was treated and later discharged. Lukuwa subsequently appeared in a video circulated on social media, with a plaster covering part of his neck, appealing for calm and assuring his followers that he was in stable condition. The Commissioner of Police, Hayatu Hassan Shaffa, condemned the mob action as jungle justice and urged residents to allow due process. “It is imperative that we allow the law to take its course to ensure justice is served appropriately,” Shaffa said. Security personnel have been deployed to Mabera and other flashpoints, while investigations into both the stabbing and the mob killing continue. No arrest has been made in connection with the lynching.

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The attack was reportedly linked to a previous sermon in which the cleric cited a Hadith that some scholars, particularly those associated with the Tariqa order, considered offensive to the parents of Prophet Muhammad. Following the controversy, a young man identified as Mai Barewa allegedly threatened to kill Malam Musa Lukuwa and his senior student, Malam Murtala Assada. The cleric and his followers reported the threat to the police, leading to the suspect’s arrest and arraignment. A court later ordered that he be remanded in a correctional facility while the case remained pending. Four days before Friday’s incident, the clerics had also visited the Sokoto State Government House to submit a written complaint. The incident triggered protests and heightened tension around Sahara, Bello Way and Aliyu Jodi, with some businesses closing temporarily as security operatives moved into strategic locations. It came only days after protests erupted over the continued remand of another cleric, Dahiru Mai Barewa, who was accused of threatening Lukuwa and Malam Murtala Bello Assada. Police subsequently arrested about 20 people in connection with that protest.

The government said the committee would examine the circumstances surrounding the tension and make recommendations in the interest of peace and stability in the state. It also ordered a full investigation into the attack and the subsequent killing at the mosque. The state government further dissociated itself from any person, irrespective of status, who hides under the pretext of religion to undermine or disrespect Prophet Muhammad (PBUH), his parents, household and companions. It reaffirmed its “total obedience and respect” for the Prophet, his parents, household and companions, while urging residents to continue to show love and compassion to him. The government appealed to residents to desist from making inciting statements capable of jeopardising the peaceful coexistence for which Sokoto is known. It assured residents of its commitment to protecting the lives and property of every citizen in the state.

Malam Musa Lukuwa is an Islamic cleric from Lukuwa village in Gwadabawa Local Government Area of Sokoto State. He was among the early scholars associated with the Izala movement when it began gaining prominence in Sokoto State. He later became associated with the Salafiyya school of thought and established his own mosque, where he teaches Islamic studies and preaches to his followers. Lukuwa is known for his strict emphasis on adherence to the Qur’an and Hadith. His interpretation of religious practices, particularly issues surrounding the sighting of the crescent moon, has at times differed from the position announced by the Sultan of Sokoto. He maintains that decisions on the commencement and termination of fasting should be based on what he considers credible evidence of the sighting of the crescent, in line with the teachings of the Qur’an and Hadith.