Nigeria’s drive to strengthen domestic food production has yet to translate into a reduction in foreign spending on imported food, as the country recorded a $1.19 billion import bill in the first six months of 2026.
Figures from the Central Bank of Nigeria’s (CBN) Second-Quarter 2026 Statistical Bulletin show that the amount spent on food imports between January and June increased by 11.41 per cent compared with the $1.07 billion recorded in the corresponding period of 2025.
The figures point to a growing import bill despite ongoing efforts to boost local agricultural output and reduce dependence on foreign food supplies.
A breakdown of the data shows that the first quarter offered some relief, with spending on food imports declining by 2.57 per cent from $550.79 million in the first three months of 2025 to $536.65 million in the same period this year.
However, that improvement was reversed in the second quarter, when expenditure climbed by 26.38 per cent, rising from $514.34 million in 2025 to approximately $650 million in 2026.
The monthly figures also indicated that food-related foreign exchange expenditure increased in five of the six months under review, with February standing out as the only month to record a decline.
The sharp second-quarter increase suggests that the reduction achieved in the opening months of the year was insufficient to prevent overall import spending from rising.
The development raises questions about the pace at which local agricultural production can meet domestic demand, particularly as Nigeria continues to pursue policies aimed at strengthening food supply and reducing reliance on imported commodities.
While the CBN figures document the increase in import expenditure, they do not, on their own, establish the specific factors responsible for the rise. Further details on the categories of imported food and the underlying causes would be needed to determine the extent to which domestic supply constraints, prices or other factors contributed to the increase.
