CBN Data Reveals Nigeria's Growing Reliance on Foreign Food Imports, Raising Concerns Over Food Security

The Central Bank of Nigeria (CBN) data exposes Nigeria's growing dependence on foreign food sources, with the country's food import bill increasing to $2.39 billion from April 2024 to March 2025, a 11.6% jump from the previous year. This trend deepens concerns over Nigeria's failure to strengthen local agriculture and reduce food imports, despite government promises.

The rise in inflation, insecurity in farming areas, weak exchange rate, and ongoing import spending highlight the struggles of Nigeria's agricultural policies. The situation is exacerbated by a surge in import payments, impacting foreign reserves and weakening the Naira.

This has led to worsening hunger and malnutrition, particularly in conflict-affected states like Borno, Adamawa, and Yobe.