Nigeria’s Food Import Bill Hits $1.19bn In 6 Months Despite Push For Local Production

Nigeria spent $1.19billion on food imports in the first half of 2026, an increase of $121.52million or 11.41 per cent from the $1.07billion recorded in the corresponding period of 2025, as the country continued to depend on foreign food supplies despite government efforts to boost domestic production.
An analysis of the Central Bank of Nigeria’s (CBN) Quarterly Statistical Bulletin for the second quarter of 2026 showed that foreign exchange (forex) utilisation for food imports increased in five of the six months under review, with only February recording a year-on-year decline.
The figures highlight the sustained demand for foreign exchange to finance food imports and the challenges f...