Nigeria’s Food Import Bill Hits $1.19bn In 6 Months Despite Push For Local Production
Nigeria spent $1.19 billion on food imports in the first half of 2026, representing an increase of $121.52 million, or 11.41 per cent, compared with the $1.07 billion recorded in the corresponding period of 2025.
The increase highlights the country’s continued dependence on foreign food supplies despite government efforts to boost domestic agricultural production and achieve food self-sufficiency.
An analysis of the Central Bank of Nigeria’s Quarterly Statistical Bulletin for the second quarter of 2026 showed that foreign exchange expenditure on food imports increased year-on-year in five of the six months reviewed, with February being the only month that recorded a decline.
The figures indicate sustained demand for foreign exchange to finance food imports, underscoring the challenges facing Nigeria’s efforts to reduce reliance on imported food.
A breakdown of the data showed that foreign exchange spending on food imports rose to $232.05 million in January 2026 from $213.11 million in January 2025, representing an increase of 8.89 per cent.
In February, however, spending declined by 22.90 per cent to $150.87 million from $195.68 million recorded in the corresponding month of the previous year.
The decline was short-lived, as expenditure increased to $153.73 million in March 2026 from $141.30 million in March 2025.
April recorded the sharpest year-on-year increase, with foreign exchange utilisation for food imports rising by 54.28 per cent to $217.74 million from $141.13 million in April 2025.
The upward trend continued in May, when spending increased by 8.59 per cent to $220.26 million from $202.83 million. In June, expenditure rose by 23.92 per cent to $212 million from $171.08 million recorded in the corresponding period of 2025.
The increases recorded between April and June more than offset the decline in the first quarter, resulting in a higher food import bill for the first half of 2026.
On a quarterly basis, foreign exchange utilisation for food imports declined by 2.57 per cent in the first quarter of 2026 to $536.65 million from $550.79 million recorded in the corresponding period of 2025.
However, spending surged in the second quarter, rising by 26.38 per cent to $650 million from $514.34 million in the same period of the previous year.
The second-quarter increase accounted for the overall rise in food import expenditure during the six-month period, reflecting renewed demand for foreign food supplies after the first-quarter decline.
The development comes as the Federal Government pursues policies aimed at increasing domestic agricultural output, strengthening food security and reducing the country’s dependence on imports.
However, industry stakeholders have identified insecurity, abandoned farmlands and limited adoption of modern agricultural technology as major obstacles to improving local food production.
The President of the Association of Small Business Owners of Nigeria, Femi Egbesola, recently attributed Nigeria’s continued dependence on imported food to insecurity and inadequate technological adoption in the agricultural sector.
According to him, insecurity has forced many farmers to abandon their farmlands, disrupting the supply of agricultural produce to manufacturers and other users of locally sourced raw materials.
“Most of the farmers are no longer on the farms because of insecurity. Many farmlands have been deserted. That is where the primary products come from. It is when the farmers plant and harvest. That is when the manufacturers and other users can buy from them and use them as their inputs. This time, many of the farms are deserted,” Egbesola said.
He also argued that agricultural productivity in Nigeria remained below global standards because many farmers continued to rely on outdated tools and farming methods.
Egbesola urged the government to integrate technology into agriculture, improve smallholder farmers’ access to modern equipment and invest in mechanisation to bridge the production gap.
Similarly, the Emir of Kano, Muhammadu Sanusi II, has warned that policies encouraging large-scale food imports could undermine domestic agricultural production and threaten long-term food security.
Sanusi said Nigeria’s decision to open its market to imported food, including rice from Thailand, had weakened local rice mills and left banks grappling with bad loans linked to investments in the agricultural value chain.
He acknowledged that food imports had helped lower prices following the removal of the petrol subsidy but warned that the policy had also exposed domestic producers to competition that threatened their businesses.
The emir called on the government to support low-income households without undermining local farmers and agricultural businesses through excessive dependence on imported food.
He made the remarks at the Sustainable Table Series held at the Federal Palace Hotel, Victoria Island, Lagos, on Thursday, where he emphasised the need for governments to prioritise nutrition, education, infrastructure and productive investment as part of efforts to promote economic development.
Sanusi maintained that making food affordable for low-income households should not come at the expense of domestic agricultural production, stressing that the government could protect vulnerable citizens while supporting local farmers and businesses.
The latest CBN figures highlight the challenges facing Nigeria’s drive towards food self-sufficiency, as foreign exchange expenditure on food imports continues to rise despite efforts to strengthen domestic agricultural production and reduce dependence on foreign supplies.