File: CBN Building, Abuja
Nigeria’s food import bill decreased to $2.34bn in 2025, marking a 7.37 per cent decline from the $2.53bn recorded the previous year.
According to financial analysts, this shift signals a critical transition in the nation’s economic priorities.
“We are seeing a structural realignment in how the country allocates its hard currency,” noted an analyst reviewing the data from the CBN’s latest Quarterly Statistical Bulletin.
“The drop in food-related foreign exchange demand suggests a moderation in import reliance, even as Nigeria continues to navigate food security challenges,” the analyst said.
