Nigeria Spends ₦1.67 Trillion on Food and Beverage Imports in Q1 2025 – NBS

New figures from the National Bureau of Statistics (NBS) reveal that Nigerian imported food and beverages worth ₦1.67 trillion ($1 billion) during the first quarter of 2025 (January–March), reflecting a 5% increase from the ₦1.59 trillion recorded over the same period in 2024. 

This marks a significant surge compared to the ₦740 billion imported in Q1 2023—a more than 125% increase year-on-year. The NBS noted a steady rise in imports from 2020, when such imports stood at ₦419 billion, climbing to ₦600 billion in Q1 2021, ₦674 billion in Q1 2022, and ₦740 billion in Q1 2023. 

Compared to the ₦1.87 trillion recorded in Q4 2024, Q1 2025 saw a 10.4% decline—an expected seasonal fluctuation influenced by lower post-holiday demand and reduced shipping activity.

Processed food items: ₦941 billion, a 9% increase from ₦865 billion in Q1 2024 and a striking 158% jump from ₦365 billion in Q1 2023. Within this, industrial processed-food imports grew from ₦507 billion to ₦590 billion, whereas household-processed food dipped slightly from ₦358 billion to ₦351 billion.

The statistics point to Nigeria’s growing dependence on imported foodstuffs—driven by inflation, currency depreciation, and agricultural security challenges . 

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