The Central Bank of Nigeria (CBN) has disclosed that the country spent about $2.34 billion on food imports in 2025, highlighting the continued dependence on imported food items despite ongoing efforts to strengthen local agricultural production and improve food security.

According to figures contained in the apex bank’s latest Quarterly Statistical Bulletin and cited by Nairametrics, the amount spent on food imports in 2025 represented a 7.37 per cent decline from the $2.53 billion recorded in 2024.

Although the reduction points to a slowdown in demand for imported food products, the data showed that food imports still placed considerable pressure on Nigeria’s foreign exchange reserves throughout the year.

The report indicated that food importers utilised an average of $195.28 million in foreign exchange every month during the period under review.

A month-by-month breakdown showed that $213.11 million was spent on food imports in January, followed by $195.68 million in February. Foreign exchange utilisation declined to $141.30 million in March and remained relatively stable at $141.13 million in April.

Demand picked up again in May, with food importers accessing $202.83 million, before easing to $171.08 million in June.

The second half of the year witnessed stronger demand, as foreign exchange utilisation for food imports climbed to $229.70 million in July. The figure dropped to $175.55 million in August before rising sharply to $248.60 million in September, the highest monthly expenditure recorded during the year.

The trend remained elevated in the final quarter, with food importers drawing $193.05 million in October, $185.45 million in November and $245.86 million in December.

The figures underscore sustained demand for imported food products despite reforms in the foreign exchange market and various government initiatives aimed at boosting domestic food production and reducing reliance on imports.