By David Akinmola
Nigeria’s import bill for food and beverages fell to N1.39 trillion in the first quarter of 2026, reflecting a moderation in foreign purchases amid ongoing efforts to boost local production and conserve foreign exchange.
Latest trade data showed that food and beverage imports accounted for a significant share of the country’s total imports during the review period, although the value represented a decline compared with previous quarters.
Analysts attributed the reduction to a combination of factors, including improved domestic agricultural output, foreign exchange constraints, government import-substitution policies and changing consumption patterns driven by economic pressures.
The development comes as policymakers intensify efforts to strengthen food security and reduce Nigeria’s dependence on imported food products. Over the years, the government has introduced various interventions aimed at encouraging local cultivation, processing and value addition across key agricultural value chains.
Despite the decline, industry stakeholders noted that the country’s food import bill remains substantial, underscoring persistent challenges in domestic production capacity, infrastructure deficits and supply chain inefficiencies.
According to economic experts, Nigeria continues to rely heavily on imports of wheat, sugar, dairy products, fish and other food items to meet local demand. They argued that sustained investments in agriculture, irrigation, storage facilities and agro-processing would be required to achieve meaningful reductions in food imports over the long term.
The lower import figure also coincides with efforts by monetary authorities to stabilise the foreign exchange market and ease pressure on external reserves. A reduction in food-related imports is expected to help moderate demand for foreign currency and improve the country’s trade balance.
Market observers, however, cautioned that declining imports should not automatically be interpreted as improved self-sufficiency, noting that reduced consumer purchasing power and elevated food prices may have contributed to lower import volumes.
Food inflation remains one of the major concerns for households and businesses, with rising production costs, insecurity in farming communities and logistics challenges continuing to affect the availability and affordability of food across the country.
Stakeholders have therefore called for sustained policy support for the agricultural sector, stressing that enhanced productivity and investment in local manufacturing would be critical to reducing import dependence while ensuring stable food supplies for Nigeria’s growing population.
