Nigeria's GDP Growth Accompanied by 28.6% Surge in Agricultural Imports to N1.84trn

Nigeria's GDP growth has been accompanied by a significant increase in agricultural imports, rising by 28.6% to N1.84 trillion over six quarters from Q1 2024 to Q2 2025. The National Bureau of Statistics reported that the value of agricultural imports surged from N1.45 trillion in Q1 2024 to N1.84 trillion in Q2 2025, representing a 28.6% increase.

While the GDP grew by 3.9% in Q1 2024, the agriculture sector expanded by 4.3%, outpacing the 3.6% growth in the oil sector. The devaluation of the naira has impacted the increase in the value of imported agricultural goods.

In Q4 2024, agricultural imports soared to N2.3 trillion, reflecting a 58.6% increase compared to Q3 2024.