Recent data from the National Bureau of Statistics (NBS) shows that food import bill rose to N1.18 trillion in Q2 (April – June), up from N893.25 billion a year ago.

On a quarterly basis, it recorded the same spike, rising 13 percent from N1.04 trillion in Q1 2025 (January-March).

The data shows that Nigeria spent N15.28 trillion on imports in Q2 2025, with food accounting for 8 percent. While total imports accounted for 40.19 percent of total trade volume at N22.75 trillion, signalling a trade surplus – where imports surpassed exports with N22.75 trillion.

Commodities were mostly imported from Asia, Europe, and America. Imports from African countries stood at N821.41 billion, representing 5.4 percent of total imports. Imports from ECOWAS countries amounted to 390.84 billion in the period.

Further analysis on Nigeria’s trading partners reveals that Nigeria imported goods worth N4.96 trillion from China, which represented 32.5 percent of total imports.

This followed imports from the United States worth N2.16 trillion.

Major items imported during the review period included crude palm oil worth N7.7 billion; cocoa powder worth N9.34 billion; mackerel meat worth N2.33 billion; and margarine worth N3.57 billion.

On the agricultural side, durum wheat from Canada and Russia valued at N112.08 billion and N108.78 billion, respectively, was a key import commodity.

The data further revealed that total value of agricultural goods exported within the review period averaged N1.25 trillion. While this is 29 percent more than the value accrued last year (N973.69 billion), it is, however, 26 percent below the value accrued in Q1 2025 (N1.70 trillion).

New agricultural commodities like ‘dessicated coconuts’ made the list of top exported commodities in the period, attracting N25.65 billion for the country. Others include cassava starch worth N1.01 billion and peas worth N431 million.

Over N714.06 billion worth of commodities were imported via air; N14.47 billion through ships, and N105.83 billion by road. (BusinessDay)

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