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Most studies on local rice in Nigeria were centred on increasing production,   consumption or competitiveness with very few of them addressing the   determinants of the price of rice in an economy. Filling this gap requires a   study on the various factors that influence the price of rice. Food price   instability is a frequent forerunner of macroeconomic shocks and political   turmoil that can discourage long-run investment and curtail growth. In this   study, secondary data were employed. The study used descriptive statistics   tools to analyse the pattern of price variation over the period of 42 years   in the study area. Similarly, various factors affecting price variation of   rice were examined. The following recommendations were made: appropriate tax   collection measures on producers should be implemented so as to curtail   farmers from exploiting the masses by making excessive gains. Since the   decrease in export results in an increase in price, the government should   keep a balance between import and export to maintain the price of rice at a   reasonable level. The price of rice can be reduced by the government when   they implement measures to control the inflation rate in the economy. The   government should put measures to regulate the quantity of land used by rice   producers as well as to control the price of rice, since they both have a   positive relationship

Drivers of rice price variation in Nigeria: A two-stage iterative ridge regression approach