Nigeria spent less on importing food in 2025, according to new figures released by the Central Bank of Nigeria (CBN), even as the country’s overall demand for foreign exchange rose sharply during the year.
The latest data shows that Nigeria’s food import bill dropped to $2.34 billion in 2025. This is lower than the $2.53 billionrecorded in 2024, representing a decline of $186.4 million or about 7.4 per centyear-on-year.
The figures suggest that while Nigeria continues to rely on imported food products, the amount of foreign exchange used for food imports has reduced compared to the previous year.
The CBN report also showed that food imports made up a smaller share of the country’s total foreign exchange use in 2025.
Food imports accounted for 4.97 per cent of total forex utilisation in 2025. In comparison, they represented 9.49 per centin 2024. This means food imports took up less pressure on Nigeria’s foreign exchange market than they did a year earlier.
Despite this decline, overall demand for foreign exchange across Nigeria increased significantly.
According to the report, total foreign exchange utilisation in the economy rose to $47.17 billion in 2025, up from $26.65 billion in 2024. That marks an increase of $20.52 billion, or roughly 77 per cent.
This shows that while spending on food imports dropped, demand for dollars increased strongly in other sectors of the economy, including trade, production, and commercial activities.
A monthly breakdown of the report revealed that Nigeria spent an average of $195.28 million each month on food imports in 2025.
The year started with food import-related forex demand at $213.11 million in January. It declined to $195.68 million in February and dropped further to $141.30 million in March. In April, it remained nearly unchanged at $141.13 million.
Demand rose again in May to $202.83 million before easing to $171.08 million in June.
In the second half of the year, spending became stronger.
Food importers accessed $229.70 million in July. The figure fell slightly to $175.55 million in August before jumping to $248.60 million in September, which became the highest monthly amount recorded for the year.
In the final quarter, Nigeria spent $193.05 million on food imports in October, $185.45 million in November, and $245.86 million in December.
Although the monthly figures moved up and down throughout the year, the total amount spent on food imports remained below 2024 levels.
The drop may point to changing import patterns, improved local food supply in some areas, or increased foreign exchange demand coming from sectors outside food imports.
Still, imported food remains an important part of Nigeria’s trade, even as the country continues efforts to strengthen local agriculture and reduce dependence on imports.
