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.
Data contained in the report showed that the country’s food import bill declined from the $2.53 billion recorded in 2024, reflecting a reduction of $186.4 million or 7.37 per cent.
Although the annual figure dropped, food imports continued to account for a significant share of foreign exchange demand, with monthly import spending remaining above $140 million throughout the year.
The highest food import expenditure was recorded in September at $248.60 million, followed by December with $245.86 million and July with $229.70 million. The lowest spending occurred in April at $141.13 million, closely followed by March at $141.30 million.
The figures also revealed stronger import demand during the second half of the year. Between January and June, Nigeria spent about $1.07 billion on food imports, while expenditure between July and December rose to approximately $1.28 billion.
As a result, more than half of the country’s total food import spending in 2025, representing 54.55 per cent, occurred in the last six months of the year.
A year-on-year comparison showed notable declines in some months. Food import expenditure in February fell by 35.61 per cent from $303.91 million in 2024 to $195.68 million in 2025, while March recorded a 36.22 per cent decline from $221.54 million to $141.30 million.
However, several months witnessed increases. July recorded a rise of 53.23 per cent from $149.91 million in 2024 to $229.70 million in 2025, while January increased by 29.61 per cent from $164.43 million to $213.11 million.
The report suggests that despite a reduction in overall food import expenditure, Nigeria remains heavily reliant on imported food products, making the country vulnerable to fluctuations in exchange rates and international commodity prices.
Speaking on the issue, the President of the Association of Small Business Owners of Nigeria, Femi Egbesola, attributed the continued dependence on food imports to insecurity and inadequate adoption of modern agricultural technology.
According to him, insecurity has forced many farmers away from their farmlands, leading to reduced agricultural output and limited supply of raw materials needed by manufacturers and other industries.
He also noted that agricultural productivity in Nigeria remains below global standards due to the continued use of outdated farming methods and equipment.
Egbesola called on the government to promote mechanised agriculture, encourage technological innovation in farming and provide modern equipment to smallholder farmers to boost local food production.
Meanwhile, the Association of Food, Beverage, and Tobacco Employers has warned the Federal Government against policies it believes could further strain businesses operating within the food and beverage sector.
The association’s president, Chinedum Okereke, raised the concern during the group’s 47th Annual General Meeting held in Lagos.
Okereke argued that the sector plays a vital role in economic growth, employment generation and public welfare, stressing that government policies should encourage growth rather than create additional burdens.
He expressed concern over rising operating costs, multiple taxes and levies, as well as what he described as inadequate engagement between regulatory agencies and industry stakeholders.
According to him, a stronger partnership between government and the private sector, built on dialogue, consultation and fairness, is essential for creating a stable and sustainable business environment.