Nigeria spent a total of $2.34 billion on food imports in 2025, according to the latest quarterly statistical bulletin released by the Central Bank of Nigeria (CBN), highlighting the country’s continued dependence on imported food products despite efforts to boost local agricultural production.
The report showed that the country’s food import bill declined by $186.4 million compared to the $2.53 billion recorded in 2024, representing a 7.37 percent drop year-on-year. While the reduction suggests a slight easing in foreign exchange demand for food imports, the figures also reveal that imported food items still account for a significant share of Nigeria’s forex spending.
An analysis of the CBN data showed that monthly food import spending remained above $140 million throughout the year. September recorded the highest expenditure at $248.60 million, followed closely by December with $245.86 million and July at $229.70 million.
The lowest monthly spending was recorded in April at $141.13 million, almost the same figure as March, which stood at $141.30 million.
The report further revealed that Nigeria’s food import demand increased significantly during the second half of 2025. Between January and June, the country spent approximately $1.07 billion on imported food products. However, spending rose to $1.28 billion between July and December, accounting for more than 54 percent of the total annual food import bill.
Although some months recorded a sharp decline in import spending compared to 2024, others experienced notable increases. February 2025 saw food import expenditure fall by over 35 percent from $303.91 million in February 2024 to $195.68 million. March also dropped by more than 36 percent year-on-year.
On the other hand, July recorded a major increase of 53.23 percent, rising from $149.91 million in 2024 to $229.70 million in 2025. January also experienced a significant increase, climbing nearly 30 percent year-on-year.
The latest figures reinforce concerns about Nigeria’s heavy reliance on imported food despite the country’s vast agricultural potential. Analysts warn that dependence on imports continues to expose consumers and businesses to exchange rate volatility, inflation, and global commodity price fluctuations.
Speaking on the issue, the President of the Association of Small Business Owners of Nigeria, Femi Egbesola, attributed the country’s persistent food import dependence to insecurity and poor technological adoption in the agricultural sector.
According to him, insecurity has forced many farmers away from their farmlands, reducing local food production and limiting raw materials available to manufacturers and food processors.
Egbesola explained that Nigeria’s agricultural productivity remains far below global standards because many farmers still rely on outdated farming methods and equipment. He urged the government to invest heavily in agricultural mechanisation, modern farming technology, and support for smallholder farmers to improve food production across the country.
Industry stakeholders have also raised concerns over the challenges facing businesses in the food and beverage sector. The Association of Food, Beverage, and Tobacco Employers recently warned the Federal Government against excessive taxation, multiple levies, and weak regulatory engagement, saying such policies could negatively affect businesses and discourage growth in the sector.
Speaking during the association’s 47th Annual General Meeting in Lagos, the President of the AFBTE, Chinedum Okereke, described the food and beverage industry as a critical pillar of Nigeria’s economy because of its contribution to employment, economic growth, and public welfare.
Okereke stressed that government policies should encourage collaboration with businesses rather than create additional financial burdens through excessive taxes and regulatory charges.
He noted that many companies in the sector are already struggling with rising operational costs, inflation, and unstable economic conditions, adding that a more supportive business environment is necessary to ensure sustainability and growth.
The latest CBN data once again highlights the urgent need for Nigeria to strengthen local food production, improve security in farming communities, and modernize agriculture in order to reduce dependence on food imports and ease pressure on the country’s foreign exchange reserves.
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