Local rice prices in Nigeria soared by 137% year-on-year in October 2024, with the average price rising to N1,944.64 per kilogram from N819.42 in October 2023, according to the National Bureau of Statistics (NBS).

Kogi State recorded the highest price at N2,693.41, while Benue had the lowest at N1,267.25. The rise reflects inflationary pressures, supply chain issues, and increasing production costs.

Food inflation stood at 39.16% in October 2024, up from 31.52% the previous year, driven by higher prices of rice, yam, vegetable oil, and other staples.

Imported rice also saw a 143% rise, with average prices hitting N2,471.28 per kilogram due to naira devaluation and global price hikes.

The ongoing food price surge underscores challenges for Nigerian households struggling with the cost-of-living crisis.