Business
Nigeria spent $2.34bn on food imports in 2025, CBN data shows
Nigeria spent approximately $2.34 billion on food imports in 2025, according to fresh data released by the Central Bank of Nigeria (CBN), highlighting the country’s continued dependence on imported food despite ongoing efforts to boost local agricultural production.
The figure underscores growing concerns over food security, foreign exchange pressures, and the rising cost of feeding Africa’s most populous nation.
Data from the apex bank indicate that the import bill covered a range of food products brought into the country to meet domestic demand, reflecting persistent supply gaps within Nigeria’s agricultural sector.
The latest development comes amid broader concerns about rising food importation and increasing pressure on Nigeria’s external reserves, even as government agencies continue to promote policies aimed at achieving greater food self-sufficiency.
Economic analysts say the country’s reliance on imported food remains driven by several factors, including insecurity in key farming regions, high production costs, inadequate storage infrastructure, climate-related challenges, and supply chain disruptions affecting local output.
Recent trade statistics have also shown a steady increase in food and beverage imports, despite repeated interventions targeted at strengthening domestic agriculture and reducing dependence on foreign supplies.
Experts warn that sustained growth in food imports could continue to place pressure on the naira and foreign exchange market, particularly at a time when Nigeria is seeking to stabilize its economy and improve local production capacity.
While the federal government has introduced several agricultural financing and food security initiatives in recent years, stakeholders argue that deeper investments in mechanised farming, rural infrastructure, storage facilities, and security are needed to significantly reduce import dependence.
The CBN has consistently emphasized the importance of expanding local agricultural production as part of broader efforts to strengthen Nigeria’s economy, reduce import bills, and improve food availability across the country.
The latest figures are expected to reignite debate over the effectiveness of existing agricultural policies and the pace of progress toward achieving food self-sufficiency in Nigeria.
-
Aviation6 days agoAviation Crackdown: NCAA suspends services to Air Peace, Ibom Air, nine others
-
Business4 days agoNigeria gets 2026 Toyota RAV4 as Toyota-By-CFAO sets Lagos launch date
-
Featured7 days agoNigeria under siege as presidency focuses on 2027 re-election amid worsening insecurity
-
Business1 week agoPresidency approves review of Nigerian Communications Act to drive digital economy growth
-
Business1 week agoNCC, industry stakeholders push for major overhaul of Nigeria’s telecommunications policy
-
Business1 week agoNaira strengthens against Pound as UK political tensions, market liquidity drive FX volatility
-
Football1 week agoAston Villa lead UEFA Europa League team of the season after title triumph
-
Featured4 days agoEx-Police chiefs’ governorship bids spark debate over source of political funding

