Rice Farmers Forecast Further Price Drop as Lagos Govt Pegs Bag at ₦57,000

News in brief:

-Farmers say Lagos’ price slash will trigger competition and push rice prices down even more before Christmas.

-Associations urge continued government support to boost production and food affordability.

Lagos farmers are forecasting another round of price reductions for locally produced rice ahead of the Christmas season after Governor Babajide Sanwo-Olu slashed the price of Lagos Rice from ₦64,000 to ₦57,000 per 50kg bag.

The decision, announced recently, has been widely praised by producers who say it will boost competitiveness and affordability in the market.

Price Cut Seen as Catalyst for Market Competition

Vice Chairman of the All Farmers Association of Nigeria (AFAN), South-West and Lagos chapter, Sakin Agbayewa, said the government’s intervention is likely to create healthier market competition that favours consumers.

“With this competitive pricing, we expect that within one to two weeks, the price of rice will further drop,” he said.

Agbayewa noted that foreign rice currently sells between ₦52,000 and ₦56,000, depending on location and transport costs, but warned that cheaper does not always mean better.

“Those cheaper imported varieties could have been stored for three to five years or even expired. I would prefer fresh Lagos rice at ₦57,000 than buy lower-quality imports,” he added.

Farmers Praise State Support, Seek More Interventions

Raphael Hunsa, Chairman of the Rice Farmers Association of Nigeria (RIFAN), Lagos State chapter, also applauded the state government’s proactive agriculture policies.

“The Lagos State Government is always ahead when it comes to decisions that impact the people. The price reduction is a great move,” he said.

Hunsa emphasised that increased production remains the key to stabilising prices and ensuring food security.

“If production is low, demand will be high, and the price will rise. We urge continued government support so prices of rice and other staples keep dropping,” he added.

With the holiday season approaching, farmers believe Lagos residents are set for a more enjoyable celebration.

“This Christmas is now at our door, and everyone will celebrate well with this drop in price,” Hunsa further stated.

The Lagos State Government’s intervention signals a major push to support local agriculture, promote fresher home-grown produce, and ease financial pressure on households nationwide.