The price of local Rice in the country has dropped significantly from N84,000 to N60,000.
This is according to research in household food items, conducted from major markets across the country, this newspaper report.
The development may not be unconnected to the continuous appreciation of the currency, Naira against the US Dollar.
The Nigerian currency is currently exchanging against the dollar at its highest level in the last seven months.
The Naira is currently trading at N1,136.04 to the dollar at the official market.
Similarly, the Naira appreciated to N1,100 per dollar in the parallel market.