Nigeria spent $1.19billion on meals imports within the first half of 2026, a rise of $121.52million or 11.41 per cent from the $1.07billion recorded within the corresponding interval of 2025, because the nation continued to rely on international meals provides regardless of authorities efforts to spice up home manufacturing.
An evaluation of the Central Bank of Nigeria’s (CBN) Quarterly Statistical Bulletin for the second quarter of 2026 confirmed that international alternate (foreign exchange) utilisation for meals imports elevated in 5 of the six months below assessment, with solely February recording a year-on-year decline.
The figures spotlight the sustained demand for international alternate to finance meals imports and the challenges dealing with efforts to cut back Nigeria’s dependence on imported meals.
A breakdown of the info confirmed that foreign exchange spending on meals imports rose to $232.05million in January 2026 from $213.11million in January 2025, representing a rise of 8.89 per cent.
However, spending fell by 22.90 per cent in February to $150.87million from $195.68million recorded within the corresponding month of the earlier 12 months.
The decline was short-lived, as spending recovered to $153.73million in March 2026 from $141.30million in March 2025.
The sharpest year-on-year improve occurred in April, when foreign exchange utilisation surged by 54.28 per cent to $217.74million from $141.13million in April 2025.
The upward pattern continued in May, with spending rising by 8.59 per cent to $220.26m from $202.83million, whereas June recorded a 23.92 per cent improve to $212million from $171.08million within the corresponding month of the earlier 12 months.
The figures confirmed that larger spending between April and June greater than offset the decline recorded within the first quarter, pushing the full meals import invoice larger within the first half of the 12 months.
On a quarterly foundation, foreign exchange utilisation for meals imports declined by 2.57 per cent within the first quarter of 2026 to $536.65million from $550.79million recorded within the corresponding interval of 2025.
However, spending rose sharply within the second quarter, rising by 26.38 per cent to $650million from $514.34million in the identical interval of the earlier 12 months.
The second-quarter surge accounted for the general improve in meals import spending in the course of the six-month interval, reflecting a renewed rise in demand for international meals provides after the first-quarter decline.
The improvement comes because the federal authorities pursues agricultural insurance policies aimed toward rising home meals manufacturing and decreasing reliance on imports.
However, business stakeholders have recognized insecurity, deserted farmlands and low adoption of recent farming expertise as main constraints to enhancing native agricultural output.
The President of the Association of Small Business Owners of Nigeria, Femi Egbesola, just lately attributed the nation’s continued dependence on imported meals to insecurity and insufficient technological adoption in agriculture.
He mentioned insecurity had compelled many farmers to desert their farmlands, disrupting the availability of agricultural produce to producers and different customers of native farm merchandise.
“Most of the farmers are no longer on the farms because of insecurity. Many farmlands have been deserted. That is where the primary products come from. It is when the farmers plant and harvest. That is when the manufacturers and other users can buy from them and use them as their inputs. This time, many of the farms are deserted,” Egbesola mentioned.
He added that Nigeria’s agricultural productiveness remained under world requirements as a result of many farmers continued to depend on outdated instruments and farming practices.
Egbesola urged the federal government to combine expertise into agriculture, enhance entry to trendy tools for smallholder farmers and put money into mechanisation to shut 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 market to imported meals, together with rice from Thailand, had weakened native rice mills and left banks scuffling with dangerous loans linked to investments within the agricultural worth chain.
According to him, though meals imports helped scale back costs following the elimination of the petrol subsidy, the coverage additionally uncovered native producers to competitors that threatened their companies.
He known as on the federal government to assist poor households with out undermining home farmers and agricultural companies by way of extreme dependence on imported meals.
The emir spoke on the Sustainable Table Series held on the Federal Palace Hotel, Victoria Island, Lagos, on Thursday, the place he confused the necessity for governments to prioritise vitamin, schooling, infrastructure and productive funding as a part of efforts to enhance financial improvement.
Sanusi argued that making meals inexpensive for low-income households mustn’t come on the expense of home manufacturing, including that the federal government may defend susceptible residents whereas supporting native farmers and companies.
The newest CBN figures underscore the problem dealing with Nigeria’s drive for meals self-sufficiency, as rising international alternate spending on meals imports persists regardless of efforts to strengthen home agricultural manufacturing.
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