Will the median retail price of a 50kg bag of locally produced rice increase by at least 3% between October 27 and October 31, 2026, across five preselected Lagos markets (Mile 12,Oyingbo,Mushin,Agege and Sabo Market)?

Outcome: NO

How this forecast is settled

Will the median price of locally produced rice rise by at least 3% across five Lagos markets by October 31?

Resolution

No. The median retail price of a 50kg bag of locally produced rice did not increase by at least 3% between October 27 and October 31, 2026. Data tracking food prices across major Lagos markets shows that the price of local Nigerian rice experienced a net decline or flat stabilization rather than a sudden spike at the end of October 2026. Bumper wet-season harvests and overall market trends during this timeframe drove a retreat in prices, meaning the proposed 3% or greater rise did not occur

Make your forecast on GetUrgent2K Daily. Free to play; earn airtime for taking part and for getting it right.