Nigeria’s spending on imported food products rose to $2.39bn between April 2024 and March 2025, up from $2.14bn recorded in the corresponding period of April 2023 to March 2024.
This is according to the latest analysis of the Central Bank of Nigeria’s sectoral utilisation of foreign exchange on food products.
The data, obtained by our correspondent on Friday, indicate an increase of $248.37m, representing about an 11.6 per cent rise in the country’s food import bill within a year, despite government efforts to boost local food production and reduce dependence on foreign supplies.