Nigeria spent $1.19billion on meals imports within the first part of 2026, an building up of $121.52million or 11.41 consistent with cent from the $1.07billion recorded within the corresponding length of 2025, as the rustic persevered to rely on international meals provides in spite of govt efforts to spice up home manufacturing.
An research of the Central Financial institution of Nigeria’s (CBN) Quarterly Statistical Bulletin for the second one quarter of 2026 confirmed that foreign currency (foreign exchange) utilisation for meals imports greater in 5 of the six months beneath assessment, with handiest February recording a year-on-year decline.
The figures spotlight the sustained call for for foreign currency to finance meals imports and the demanding situations dealing with efforts to cut back Nigeria’s dependence on imported meals.
A breakdown of the information confirmed that foreign exchange spending on meals imports rose to $232.05million in January 2026 from $213.11million in January 2025, representing an building up of 8.89 consistent with cent.
On the other hand, spending fell by way of 22.90 consistent with cent in February to $150.87million from $195.68million recorded within the corresponding month of the former 12 months.
The decline was once short-lived, as spending recovered to $153.73million in March 2026 from $141.30million in March 2025.
The sharpest year-on-year building up took place in April, when foreign exchange utilisation surged by way of 54.28 consistent with cent to $217.74million from $141.13million in April 2025.
The upward development persevered in Would possibly, with spending emerging by way of 8.59 consistent with cent to $220.26m from $202.83million, whilst June recorded a 23.92 consistent with cent building up to $212million from $171.08million within the corresponding month of the former 12 months.
The figures confirmed that upper spending between April and June greater than offset the decline recorded within the first quarter, pushing the entire meals import invoice upper within the first part of the 12 months.
On a quarterly foundation, foreign exchange utilisation for meals imports declined by way of 2.57 consistent with cent within the first quarter of 2026 to $536.65million from $550.79million recorded within the corresponding length of 2025.
On the other hand, spending rose sharply in the second one quarter, expanding by way of 26.38 consistent with cent to $650million from $514.34million in the similar length of the former 12 months.
The second one-quarter surge accounted for the whole building up in meals import spending all through the six-month length, reflecting a renewed upward push in call for for international meals provides after the first-quarter decline.
The improvement comes as the government pursues agricultural insurance policies aimed toward expanding home meals manufacturing and decreasing reliance on imports.
On the other hand, trade stakeholders have recognized lack of confidence, deserted farmlands and occasional adoption of recent farming era as main constraints to bettering native agricultural output.
The President of the Affiliation of Small Industry House owners of Nigeria, Femi Egbesola, just lately attributed the rustic’s persevered dependence on imported meals to lack of confidence and insufficient technological adoption in agriculture.
He mentioned lack of confidence had pressured many farmers to desert their farmlands, disrupting the provision of agricultural produce to producers and different customers of native farm merchandise.
“Lots of the farmers are now not at the farms as a result of lack of confidence. Many farmlands were abandoned. This is the place the main merchandise come from. It’s when the farmers plant and harvest. This is when the producers and different customers should purchase from them and use them as their inputs. This time, most of the farms are abandoned,” Egbesola mentioned.
He added that Nigeria’s agricultural productiveness remained underneath world requirements as a result of many farmers persevered to depend on out of date gear and farming practices.
Egbesola advised the federal government to combine era into agriculture, strengthen get entry to to fashionable apparatus for smallholder farmers and spend money on mechanisation to near the manufacturing hole.
The Emir of Kano, Muhammadu Sanusi II, has additionally warned that insurance policies permitting large-scale meals imports may undermine home agricultural manufacturing and threaten long-term meals safety.
Sanusi mentioned Nigeria’s resolution to open its marketplace to imported meals, together with rice from Thailand, had weakened native rice generators and left banks suffering with unhealthy loans connected to investments within the agricultural worth chain.
Consistent with him, even though meals imports helped scale back costs following the elimination of the petrol subsidy, the coverage additionally uncovered native manufacturers to festival that threatened their companies.
He referred to as at the govt to reinforce deficient families with out undermining home farmers and agricultural companies via over the top dependence on imported meals.
The emir spoke on the Sustainable Desk Sequence held on the Federal Palace Resort, Victoria Island, Lagos, on Thursday, the place he wired the will for governments to prioritise vitamin, schooling, infrastructure and productive funding as a part of efforts to strengthen financial building.
Sanusi argued that making meals inexpensive for low-income families must now not come on the expense of home manufacturing, including that the federal government may offer protection to susceptible electorate whilst supporting native farmers and companies.
The newest CBN figures underscore the problem dealing with Nigeria’s force for meals self-sufficiency, as emerging foreign currency spending on meals imports persists in spite of efforts to make stronger home agricultural manufacturing.
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