Food vendors and market traders in Abuja have expressed relief and excitement following a significant drop in the price of rice, one of Nigeria’s most consumed staple foods.

Findings across major markets in the Federal Capital Territory show that a 50kg bag of rice, which sold for as high as ₦76,000 late last year, is now being sold for between ₦54,000 and ₦55,000, depending on the brand and market location.

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Market vendors attributed the price reduction to improved supply, increased distribution of locally produced rice, and recent government interventions aimed at stabilising food prices. Some traders also pointed to easing transportation costs and reduced pressure from middlemen as contributing factors.

“We are happy because customers are coming back,” said a rice dealer at Garki Market. “Before, many people could not afford to buy rice. Now, sales have improved, even if our profit margin is smaller.”

Food sellers and caterers said the price drop has helped them lower meal costs and attract more customers, especially as households continue to struggle with the high cost of living.

Despite the development, traders cautioned that prices could rise again if insecurity in food-producing areas worsens or if transportation and logistics costs increase.

Consumers, meanwhile, have welcomed the reduction, describing it as a rare but much-needed relief amid ongoing economic hardship.