Nigeria spent about N3.3 trillion on food and beverage imports in the first six months of 2026, a development that has renewed concerns about the country’s agricultural capacity and dependence on imported food.
Financial analyst and Professor of Accounting, Godwin Oyedokun, raised the alarm over the scale of the import bill, warning that continued dependence on foreign food supplies could deepen economic pressures and expose Nigeria to greater food-security risks.
The latest figure highlights the growing challenge facing Nigeria as policymakers attempt to boost domestic agricultural production while reducing pressure on foreign exchange. A high food import bill means significant financial resources are being used to purchase commodities that could potentially be produced locally.
Oyedokun’s warning comes amid persistent concerns over rising food prices, limited access to agricultural financing, insecurity in farming communities, inadequate infrastructure and other constraints affecting farmers and food processors.
The development is particularly important because food imports can place additional pressure on Nigeria’s foreign exchange market while exposing consumers to fluctuations in international commodity prices and exchange rates.
Nigeria has previously acknowledged the scale of its food-import dependence. In 2025, the Federal Government said the country was spending more than $10 billion annually on food imports, including commodities such as wheat, rice, sugar, fish and tomato paste.
Agriculture remains a major part of Nigeria’s economy and provides livelihoods for millions of people. However, challenges across the agricultural value chain have limited the sector’s ability to consistently meet domestic demand.
The N3.3 trillion import bill therefore adds urgency to calls for greater investment in agriculture, including improved access to credit, modern farming technology, irrigation, storage, transportation and processing facilities.
As Nigeria continues efforts to strengthen food security, the latest import figures underscore the need to increase domestic production and build a more resilient agricultural value chain capable of supplying the country’s growing population.
