By JKNewsMedia
NIGERIA’s SPENDING on imported food declined in 2025 as new figures from the Central Bank of Nigeria (CBN) fourth quarter 2025 statistical bulletin showed a reduction in food import expenditure even as total imports rose sharply.
JKNewsMedia.com reports that food import spending fell to $2.34 billion in 2025 from $2.53 billion in 2024.
The decrease of $186.42 million represents a 7.4 percent reduction year on year and marks a reversal of the previous upward trend.
In 2024, food import expenditure had risen by 18.8 percent to $2.53 billion from $2.13 billion in 2023, reflecting an earlier increase in reliance on imported food products.
The latest figures show a reduction compared with that pattern.
Food imports accounted for 11.8 percent of total imports in 2025, down from 16.3 percent in 2024 as this indicates a smaller share of imported goods being food items during the period under review.
Total imports increased by 28 percent to $19.9 billion in 2025 from $15.54 billion in 2024, representing an increase of $4.35 billion.
This continued the upward movement from $14.28 billion recorded in 2023.
Quarterly data showed mixed movements in food import expenditure.
In the first quarter, spending fell by 20.3 percent to $550.09 million from $689.88 million in the corresponding period of 2024.
In the second quarter, it declined by 6 per cent to $515.04 million from $547.70 million.
The third quarter recorded an increase of 3.2 percent to $653.85 million from $633.63 million in the same period of 2024.
In the fourth quarter, food import spending dropped by 5.2 percent to $624.36 million from $658.55 million.
Also, the CBN statistical bulletin confirmed that food import expenditure fluctuated across the quarters while remaining lower overall in 2025 compared with the previous year.
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