{
  "id": 13037509,
  "title": "Import waivers, insecurity end two-year agric trade surplus",
  "url": "https://urgent.news/2026/10/09/import-waivers-insecurity-end-two-year-agric-trade-surplus",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-09T05:34:10.000Z",
  "source": {
    "name": "Punch Nigeria",
    "slug": "punch-nigeria",
    "url": "https://punchng.com/import-waivers-insecurity-end-two-year-agric-trade-surplus/"
  },
  "original_language": "en",
  "account": "Recent government policies, including import waivers and reduced tariffs, have ended Nigeria's two-year agricultural trade surplus, as the country shifted to a deficit in the first half of 2026. According to Agribusiness experts, the waivers and tariff reductions made it more favorable for consumers to import goods, hurting domestic producers. Agricultural exports fell by 33.28 percent, while imports only decreased by 8.50 percent. The gap between exports and imports resulted in a N796.40bn swing in the trade balance. Factors such as food inflation, insecurity, high input costs, and falling produce prices also contributed to the deficit. Experts urge the Federal Government to prioritize local production through the Special Agro-Industrial Processing Zones program and address concerns like fertiliser costs and guaranteed minimum prices for agricultural produce.",
  "summary": "Nigeria’s agricultural trade balance has swung to a N56.13bn deficit in H1 2026, ending a two-year surplus due to import waivers and insecurity. Read More: https://punchng.com/import-waivers-insecurity-end-two-year-agric-trade-surplus/",
  "key_points": [
    "Nigeria ends two-year agricultural trade surplus due to import waivers and tariff reductions.",
    "Agricultural exports dropped 33.28%, imports decreased only 8.50%.",
    "Deficit of N796.40bn attributed to food inflation, insecurity, high input costs, and falling prices."
  ],
  "editors_take": "The shift to import waivers and reduced tariffs has tilted the trade balance in favour of imports, putting domestic agricultural producers at a disadvantage and widening the country's food insecurity.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Punch",
        "title": "Import waivers, insecurity end two-year agric trade surplus",
        "url": "https://urgent.news/2026/10/09/import-waivers-insecurity-end-two-year-agric-trade-surplus-13039625",
        "published": "2026-10-09T05:46:27.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}