Nigeria spent approximately $2.34 billion on food imports in 2025, according to fresh data released by the Central Bank of Nigeria (CBN), highlighting continued pressure on the country’s foreign exchange reserves despite ongoing efforts to boost local agricultural production.
Figures contained in the apex bank’s Quarterly Statistical Bulletin, as reported by Nairametrics, showed that food import expenditure declined by 7.37 per cent compared to the $2.53 billion recorded in 2024.
The development suggested a slight moderation in demand for imported food items, even as Nigeria continues to pursue policies aimed at strengthening domestic food production and improving national food security.
However, the report indicated that food imports remained a significant drain on foreign exchange resources, with an average monthly utilisation of $195.28 million throughout 2025.
A detailed breakdown of the data showed fluctuating demand across the year.
Food importers accessed $213.11 million in January, followed by $195.68 million in February.
The figure dropped further to $141.30 million in March and $141.13 million in April.
In May, demand rebounded to $202.83 million before easing slightly again to $171.08 million in June.
The second half of the year reflected renewed pressure on foreign exchange usage for food imports.
July recorded $229.70 million, while August declined to $175.55 million. September saw a sharp increase, rising to $248.60 million, the highest monthly figure for the year.
In the final quarter, import utilisation stood at $193.05 million in October, $185.45 million in November, and $245.86 million in December.
Despite fluctuations, the data underscored persistent reliance on imported food products, even amid reforms in the foreign exchange market and government initiatives aimed at encouraging local production.
The consistent demand for foreign exchange for food imports reflects ongoing structural challenges in domestic agriculture, supply chains and food processing capacity.
While the slight year-on-year decline may indicate early signs of import substitution efforts, analysts note that Nigeria’s food import bill remains a key pressure point on external reserves and currency stability.
The figures reinforce concerns that achieving food self-sufficiency will require deeper reforms, improved productivity and stronger investment in local agricultural value chains.
