Why Nigeria Spent $1.19bn on Food Imports in Six Months

Nigeria spent approximately $1.19 billion in foreign exchange on food imports during the first half of 2026, raising concerns about the country’s continued dependence on foreign food supplies.

The amount represents an 11.4% increase from the $1.07 billion recorded during the corresponding period in 2025.

Figures from the Central Bank of Nigeria (CBN) show that spending increased by approximately $121.52 million despite efforts to strengthen domestic agricultural production.

But why does a country with vast agricultural resources continue to depend heavily on imported food?

Why Does Nigeria Still Import So Much Food?

Nigeria has significant agricultural potential, but several challenges affect domestic food production.

Insecurity in farming communities, rising production costs, inadequate infrastructure and difficulties transporting agricultural goods can restrict local supply.

According to the Food and Agriculture Organisation (FAO), conflict has disrupted farming activities in several food-producing states, including Benue, Borno, Kaduna, Katsina, Niger, Plateau, Sokoto and Zamfara.

Some farmers have struggled to access their farmland because of attacks and restrictions on movement.

High fertiliser and fuel costs have also increased the financial burden on agricultural producers.

These challenges can reduce domestic food availability and make imports necessary to meet some market demands.

However, the latest import figures alone do not establish how much each factor contributed to the increase.

What Do the Latest Food Import Figures Show?

According to the CBN’s second-quarter statistical bulletin, foreign exchange spending on food imports increased year-on-year in five of the first six months of 2026.

Only February recorded a decline.

Meanwhile, separate data from the National Bureau of Statistics (NBS) showed that food and beverage imports were valued at ₦3.30 trillion in the first half of 2026.

That represents a 3.1% decline from ₦3.40 trillion during the corresponding period of 2025.

Although the figures appear different, they measure separate categories.

The CBN figures track foreign exchange used for food imports, while the NBS figures measure the naira value of a broader category of imported food and beverages.

Both datasets provide important information about Nigeria’s food import dependence.

How Does Food Import Dependence Affect Nigerians?

Imported food exposes consumers and businesses to international prices, exchange-rate movements and global supply disruptions.

When the cost of obtaining foreign currency increases, importers may face higher expenses.

Transportation, storage and distribution costs can also influence prices at local markets.

However, increased import spending does not automatically translate into an equivalent increase in retail food prices.

The wider food security challenge remains serious.

The FAO has warned about high levels of acute food insecurity affecting millions of Nigerians, particularly in conflict-affected regions.

What Can Nigeria Do to Reduce Food Imports?

Reducing long-term dependence on imported food requires more than increasing the amount of land under cultivation.

Improving security in farming communities could help farmers return to production and expand their activities.

Better rural roads, storage facilities, irrigation systems and access to agricultural inputs could also strengthen local food supply.

Investment in food processing would help reduce losses and increase the availability of locally produced goods.

Strengthening domestic production could reduce exposure to foreign exchange pressures over time.

What Happens Next?

The latest figures place renewed attention on Nigeria’s agricultural policies and efforts to improve food security.

Future CBN and NBS releases will help show whether import dependence is declining.

For now, the challenge is not simply the amount spent on imported food.

It is whether Nigeria can produce, process and distribute enough affordable food to meet the needs of its growing population.