Nigeria spent $1.19 billion on food imports in the first half of 2026, an 11.41 per cent increase from $1.07 billion in the same period of 2025, according to the Central Bank of Nigeria (CBN).
The CBN’s Quarterly Statistical Bulletin for the second quarter of 2026 showed that spending on food imports rose by $121.52 million, reflecting continued demand for foreign exchange to meet domestic food needs despite the Federal Government’s efforts to boost local production.
Foreign exchange used for food imports rose year-on-year in five of the six months. Only February recorded a decline.
The second quarter accounted for the overall increase, after spending fell in the first quarter. The figures underline the difficulty of cutting dependence on foreign food despite government efforts to raise domestic production.
Separate figures from the National Bureau of Statistics (NBS) put food and beverage imports at N3.30 trillion in the half-year, a 3.1 per cent drop from N3.40 trillion in the first half of 2025. The NBS data showed the bill rising from N1.39 trillion in the first quarter to N1.91 trillion in the second
