Rising Food Import Expenditure in Nigeria
Nigeria’s expenditure on imported food products has seen a significant increase, reaching $2.39 billion between April 2024 and March 2025. This represents a rise from the $2.14 billion spent during the same period in the previous year, which spanned from April 2023 to March 2024. The data highlights an increase of $248.37 million, reflecting an 11.6% growth in the country’s food import bill over the past year.
Despite government initiatives aimed at boosting local food production and reducing reliance on foreign supplies, the trend continues to show a growing dependence on imported food. This situation is particularly concerning given the ongoing challenges of food insecurity and malnutrition across the nation. Millions of Nigerians are struggling to afford basic staples due to high prices and declining local agricultural output.
A Deepening Nutrition Crisis
A report published in October by the International Federation of Red Cross and Red Crescent Societies revealed that the BAY states—Borno, Adamawa, and Yobe—have been experiencing a worsening nutrition emergency since June 2024. The crisis is marked by a surge in cases of Severe Acute Malnutrition and Moderate Acute Malnutrition, especially among children under the age of five.
The report attributes this crisis to a combination of factors, including conflict, displacement, food insecurity, weak health systems, and limited access to nutrition services. These challenges have exacerbated the situation, leaving many vulnerable populations without adequate food or medical support.
Economic Implications of Food Imports
The Central Bank of Nigeria (CBN) has also highlighted the economic impact of the rising food import bills. The data shows that Nigeria spent $2,141.6 million on food imports between April 2023 and March 2024. A month-by-month breakdown reveals fluctuations in spending, with the lowest figure recorded in July 2023 at $57.91 million. The trend then showed an upward movement, with payments increasing to $95.33 million in August, $119.87 million in September, and peaking at $234.68 million in November.
In 2024, the pattern continued with a sharp rise in February, where payments reached $303.91 million—the highest monthly figure for that year. The trend remained consistent through the following 12 months, with total spending reaching $2,389.97 million between April 2024 and March 2025.
Monthly Breakdown of Food Imports
The CBN data provides a detailed monthly breakdown of food import payments. In April 2024, the amount was $153.27 million, followed by $197.21 million in May and $197.22 million in June. The figure dropped slightly in July to $149.91 million but then surged to $275.04 million in August—the highest monthly spending during the year.
September saw a decrease to $208.68 million, while October recorded $224.93 million. The figures remained relatively stable through November and December, with $218.92 million and $214.70 million respectively. In 2025, the trend showed a decline, with payments standing at $213.11 million in January, $195.68 million in February, and $141.30 million in March—the lowest figure in that cycle.
Persistent Dependence on Imported Food
Despite ongoing agricultural interventions, Nigeria remains heavily dependent on imported food items. The CBN has consistently emphasized the need to curb this growing dependency. In July, the apex bank stated:
“Nevertheless, the economic stability engendered by the reforms implemented so far must be supported by reinstating Nigeria’s import substitution strategies, which will take the economy to a higher growth path by boosting our industrial productivity across sectors.”
This call for action underscores the urgency of addressing the root causes of food insecurity and developing sustainable solutions to reduce reliance on foreign food supplies.