Local Rice Is Now King – Plus 7 Prices Dropping Across Nigeria

CTN Market Watch: Week 23 – Where to shop smart this week

Column summary intro:
Welcome to CTN Market Watch – your weekly companion for finding quality goods at reasonable prices across Nigeria. Each week, we break down current market trends, highlight the best spots to buy staple foods, vegetables, protein, and household items, and help you avoid price gouging. Plus: global price moves that affect your wallet. Here’s what’s happening in Week 23.

Why keep coming back to CTN?
Because we don’t just give prices — we tell you where to go, when to buy, and what’s coming next week. No other platform breaks down local and global market shifts this clearly, this fast, and this free. Bookmark this column.

Global market brief – how the world affects your shopping this week

· Wheat prices finally cooled – down 3% on rain in Russia. But local flour and bread prices will stay high for weeks.
· Palm oil futures down another 4% – Indonesia exports flowing again. Local palm oil may drop slightly by Week 25.
· Rice prices stable – India tax is now fully priced in. Imported rice unlikely to go higher soon.
· Sugar prices up 2% – Thailand drought worsens. Local sugar still rising slowly.
· Crude oil at $86/barrel – slight relief but diesel still ₦1,200–₦1,300/litre.

What this means for you:
Local rice is now officially cheaper than imported in every region. No reason to buy foreign rice anymore. Palm oil may finally see a small drop in 2 weeks – hold off on bulk buying if you can. Bread will remain expensive for at least another month.

Week 23 market snapshot (June 1 – June 7)

· Local rice (Ofada, Abakaliki) now ₦10,000–₦15,000 cheaper per bag than imported. Smart shoppers have switched.
· Tomatoes still dropping – third week of declines. Best time to make stew and freeze.
· Bread prices stuck at ₦1,600–₦1,900 – no drop expected despite global wheat dip.
· Palm oil paused – waiting to see if Indonesia relief reaches Nigeria.
· Beans up again – now ₦2,200–₦2,500 per mudu in many cities.

7 prices dropping this week:

1. Tomatoes – down another 10%
2. Sweet potatoes – down 12% (peak harvest in North)
3. Plantains – down 10% (new bunches arriving)
4. Local rice – stable while imported rises (effective drop vs foreign)
5. Fresh pepper – down 15% (rains helping)
6. Onions – still low, buy for storage now
7. Cabbage – down 20% (Plateau harvest in full swing)

Local rice vs imported rice – price comparison (50kg bag):

· Ofada rice (brown): ₦63,000–₦68,000 – best value, most filling
· Abakaliki rice: ₦66,000–₧71,000 – easiest to cook, good taste
· Mama Gold (local parboiled): ₦70,000–₦74,000 – closest to foreign texture
· Foreign parboiled (Thai/Indian): ₦84,000–₦90,000 – avoid completely

Best buys by region – what to pay (reasonable cost guide)

Southwest (Lagos, Ibadan, Abeokuta)

· Tomatoes (1 basket): ₦18,000–₦22,000 – Idi-Oro – lowest since February
· Ewedu leaves (bunch): ₦200–₦300 – Oyingbo – cheap and fresh
· Ofada rice (50kg): ₦63,000–₦67,000 – Mushin – buy here
· Frozen chicken (1kg): ₦5,500–₦6,000 – Agege – still rising, buy weekly only
· Palm oil (1 litre): ₦3,900–₦4,300 – Mushin – slight pause
· Bread (600g sliced): ₦1,600–₦1,900 – everywhere – no relief
· Cabbage (1 medium head): ₦800–₦1,200 – Mile 12 – cheap now

Southeast (Enugu, Onitsha, Aba)

· Garri (white, 2kg sack): ₦2,300–₦2,700 – Ogbete – easing from cassava harvest
· Crayfish (ground, small paint rubber): ₦1,500–₦1,800 – Ariaria – stable
· Oil bean seed (ukpaka, 1 cup): ₦1,200–₦1,500 – New Market – supply still tight
· Goat meat (1kg): ₦6,000–₦6,500 – Relief Market – now very expensive
· Abakaliki rice (50kg): ₦66,000–₦71,000 – Ogbete – best local option here
· Palm oil (1 litre): ₦4,000–₦4,500 – Ogbete – wait 2 weeks if possible
· Plantain (bunch): ₦3,000–₦3,500 – Ogbete – down 10%

North (Kano, Kaduna, Abuja)

· Onions (1 big bag, 50kg): ₦80,000–₦88,000 – Kurmi – lowest in 2025
· Sweet potatoes (1 heap): ₦800–₦1,000 – Dei-Dei – cheapest protein substitute
· Beans (oloyin, 1 mudu): ₦2,200–₦2,500 – Singa – up again, still reasonable
· Groundnut oil (1 litre): ₦3,700–₦4,100 – Wuse – high
· Flour (50kg): ₦50,000–₦54,000 – Kurmi – stopped rising for now
· Sugar (1kg): ₦1,800–₦2,100 – Kurmi – buy now
· Cabbage (1 head): ₦600–₦900 – Dei-Dei – cheapest nationwide

South-South (PH, Warri, Uyo)

· Fresh catfish (medium size, 1kg): ₦4,200–₦4,700 – Mile 1 Diobu – high but stable
· Plantain (bunch, ripe): ₦3,000–₦3,400 – Iwofe road – down again
· Palm oil (1 litre, native thick): ₦3,300–₦3,800 – Effurun – still cheapest, wait 2 weeks
· Smoked bonga fish (big piece): ₦650–₦800 – Uyo main – stable
· Local rice (50kg): ₦65,000–₦69,000 – Uyo – switch now
· Waterleaf (bunch): ₦200–₦300 – Uyo main – rainy season plenty

Price trend analysis for Week 23 – what’s up, what’s down

· Tomatoes down another 10% – third week of declines. Preserve now.
· Local rice stable – best value in the market today.
· Imported rice up 0% (paused) – but still too expensive.
· Bread flat – but still 60% higher than January.
· Eggs (1 crate): ₦4,300–₦4,700 – feed costs slowly easing.
· Sugar up 5% from last month – buy now.
· Palm oil paused – possible drop in 2 weeks.
· Beans up 10% – now a premium food.

Shopping tip of the week
How to cook Ofada rice faster and save gas: soak for 2–3 hours in cold water before cooking. Change the water twice during soaking. Then boil with plenty water for 25 minutes, drain, add fresh water and cook for another 15–20 minutes. This method cuts gas usage by 30–40% compared to cooking without soaking. Your total cooking time drops from 1 hour to 45 minutes. Worth it for the ₦15,000–₦20,000 saving per bag.