Nigeria spends $1.19bn on food imports in six months
Nigeria spent $1.19bn on food imports in the first half of 2026, an 11.41% increase from 2025, despite government efforts to boost local production. Read More: https://punchng.com/nigeria-spends-1-19bn-on-food-imports-in-six-months/
Nigeria's foreign exchange expenditure on food imports reached $1.19 billion in the first half of 2026, marking an 11.41% increase compared to the $1.07 billion spent in the same period in 2025, according to an analysis of the Central Bank of Nigeria's Quarterly Statistical Bulletin for the second quarter of 2026. The data reveals that foreign currency utilization for food imports surged in April, rising by 54.28% to $217.74 million, driven by sustained demand despite the government's efforts to bolster local food production.
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