Nigeria's Food Import Bill to Hit N7.65 Trillion by 2025

According to the latest report from the National Bureau of Statistics (NBS), Nigeria's food import bill is expected to rise to N7.65 trillion by 2025. This increase highlights the country's growing dependence on foreign food supplies due to heightened domestic demand and ongoing structural challenges within the agricultural sector.

The report indicates that the majority of imports consist of processed food products, which are utilized as industrial inputs for food manufacturing in Nigeria. Over the past four years, the country's food import expenditure has shown a steady increase, illustrating a widening gap between domestic food production and consumption needs.

The data reveals that Nigeria's food import bill has doubled within this timeframe, raising concerns regarding the nation's long-term food security. Factors contributing to this trend include rising product costs and post-harvest losses, particularly affecting farmers in the North Central and North West regions, leading many to abandon agricultural activities.