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Food imports drop by 7% – CBN data

Nigeria's food import bill decreased by 7% to $2.34bn in 2025, according to CBN data, signaling a shift in economic priorities and reduced import reliance.

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Food imports gulp $2.34bn in 2025 – CBN

Nigeria spent $2.34bn on food imports in 2025, a 7.37% decline from 2024's $2.53bn, with H2 accounting for 54.6% of total spend and September peaking at $248.6m. The persistent forex demand — above $140m/month — signals that structural import dependency (driven by agricultural underinvestment and insecurity) remains unresolved, keeping Nigerian food-sector businesses exposed to exchange-rate and commodity price volatility.

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CBN: External Reserves Rise to $49.34bn as Naira Holds Firm Amid Stable Market Conditions

CBN reserves climbed to $49.34bn (+$359.84m w/w); the naira held at N1,373.25/$ and Nigeria's food import forex draw totaled $2.34bn in 2025, down 7.4% year-on-year. Nearing the $50bn threshold, improving FX stability lowers execution risk for companies managing dollar procurement and treasury operations in Nigeria.

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Timeline cronologica

sabato 30 maggio 2026·punchng.com
Food imports gulp $2.34bn in 2025 – CBN
Nigeria spent $2.34bn on food imports in 2025, according to CBN data. Discover the reasons behind the continued reliance on food imports and its economic i
domenica 31 maggio 2026·thisdaylive.com
CBN: External Reserves Rise to $49.34bn as Naira Holds Firm Amid Stable Market Conditions
*Says $2.34bn spent on food imports in 2025 despite decline in forex demand
lunedì 1 giugno 2026·punchng.com
Food imports drop by 7% – CBN data
Nigeria's food import bill decreased by 7% to $2.34bn in 2025, according to CBN data, signaling a shift in economic priorities and reduced import reliance.