Two grades of imported rice split apart at Iyana Ipaja Market in early April 2026. A 50kg bag of long grain rice fell from N63,333 in the week of March 23 to N50,000 in the week of April 13, a decline of 21.1 percent. The 25kg bag mirrored it almost exactly, dropping from N31,667 to N25,000, also down 21.1 percent, while a paint bucket eased from N5,833 to N5,000, a fall of 14.3 percent. Short grain rice moved the other way over the same fortnight. A 50kg bag firmed from N56,333 to N60,000, up 6.5 percent, with the 25kg bag rising from N28,167 to N30,000 at the same rate and a paint bucket climbing from N5,000 to N5,500, up 10.0 percent.
The divergence flipped the usual order between the two grades. On March 23, long grain was the dearer choice at N63,333 against short grain at N56,333, a premium of N7,000 a bag. By April 13 that had reversed, with long grain at N50,000 sitting N10,000 below short grain at N60,000. The decimal averages reflect several sellers captured each week, so the move describes the market level rather than any single trader's stall.
Same-week comparison shows Iyana Ipaja in the middle of the Lagos range for short grain. In the week of April 13, a 50kg bag cost N60,000 at Iyana Ipaja against N54,000 at Agege Market and N65,000 at Oshodi Market, leaving Agege buyers N6,000 ahead and Oshodi buyers N5,000 behind on the same grade and week.
The long grain slide fits the national supply picture. BusinessDay reported a paddy price slump and a federal cut in the bulk rice import duty to 47.5 percent from 70 percent, alongside reopened land borders that point to heavier imported inflows. The United States Department of Agriculture projected a seven percent cut in Nigeria's rice planting area for the 2026 and 2027 season on the back of weak farmgate prices. The split at Iyana Ipaja suggests the extra supply landed first on the long grain shelves while short grain held its footing. The National Bureau of Statistics recorded food inflation of 16.06 percent for April 2026, a reminder that even where individual grades fall, the wider food basket stayed under pressure.
Track where rice grades are heading on the grain predictions tool, compare bags across markets with the FoodPrices compare tool, or view live readings on the Iyana Ipaja Market price page.