As of June 7, 2025, at 04:15 PM WAT, Nigerian social media has been abuzz with discussions about rice prices, a staple food in the country.

Dada Olusegun, a notable voice on X, recently shared his thoughts after reviewing data posted by @StatiSense, which tracks the average price of 50kg bags of rice from June 2020 to June 2025, sourced from the Nigeria Bureau of Statistics (NBS).

The data reveals a significant upward trend. Imported rice prices have risen from ₦23,987 in June 2020 to ₦122,538 in June 2025, while local rice has increased from ₦17,377 to ₦95,232 over the same period. Olusegun’s reaction, posted on June 6, 2025, questions the accuracy of these figures, suggesting a need to verify them against current market conditions across Nigeria.

This sentiment is echoed by other users who report purchasing 50kg bags at varying prices—ranging from ₦65,000 for local rice to ₦120,000 for imported varieties—indicating potential discrepancies between NBS averages and real-time sales.

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Here is what he wrote on his official X handle

Economic factors, such as the naira’s depreciation from ₦1,600 to ₦1,500 per USD in 2025, and global market trends, may contribute to these price shifts, though the data’s reliance on sampled markets could miss informal trade networks.

While the NBS aims to provide a comprehensive overview, the debate highlights the challenge of capturing diverse regional price variations in a dynamic market.

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