NewStats: 3,263,492 , 8,180,329 topics. Date: Friday, 06 June 2025 at 09:11 AM 5f6y1a

At the backdrop of the rising food insecurity caused by intensified conflict and climate related shock on farming activities across the country, Nigeria’s food importation rose by 16 per cent, year-on-year, to $2.5 billion in 2024 from $2.13 billion in 2023.

Meanwhile, the 2025 World Bank’s Food Security Update, one million additional Nigerians experienced acute food insecurity in 2024 due to intensified conflict and climate related shocks such as drought.

Details of data on food imports in the Quarterly Statistical bulletins of the Central Bank of Nigeria, CBN, showed that Nigeria’s food imports rose in three out of the four quarters in 2024.

In the first quarter, food imports rose by 40 per cent, quarter-on-quarter, QoQ to $689.88 million from $493.24 million in Q4’23, and by 1.8 per cent, YoY from $677.61 million in Q1’23.

However in the second quarter, Q2’24, food imports dropped to $547.7 million representing 21 per cent QoQ and 20 per cent YoY declines respectively from $ 689.88 million in Q1’24 and $685.37 million in Q2’23.

The upward trend resumed in Q3’24 when food imports rose to $633 million representing 15.7 per cent QoQ and 132 per cent YoY increases respectively from $547.7 million in Q2’24 and $273.11 million in Q3’23.

This trend persisted in Q4’24 with food imports rising by 3.9 per cent QoQ and 33.5 per cent YoY to $658.54 million from $633 million in Q3’34 and N493.24 million.

However, the CBN said that the share of food import in total imports fell to 13.15 per cent in Q4’24 from 18.13 per cent in Q3’24.

“Analysis of import by sector indicated that the industrial sector, mainly raw materials and machinery ed for the largest share of imports, with 50.41 per cent. This was followed by oil sector (20.24%), food products (13.15%), manufactured products (9.22%), minerals (3.54%), transport (2.94%) and agricultural products (0.50%),” the CBN said in its Quarterly Economic Report for Q4’24.

https://www.vanguardngr.com/2025/05/nigerias-food-imports-surge-16-to-2-5bn/

No big deal
We are paying debts and increasing allocation to politicians
That's the primary purpose of Government
All other matters are frivolous

With the way almost everybody is dabbling into agriculture, we're still importing food to this extent. We're a consumer nation, nothing we can do about it.

Ah

I ed when APC banned rice and other food importation, they said that they want local agriculture to grow.

The worst thing to citizens of any country is to have clueless thieves in power. Very shameful

Well, they should talk about our export of commodities too.

titi

dominique:
With the way almost everybody is dabbling into agriculture, we're still importing food to this extent. We're a consumer nation, nothing we can do about it.

Our population is really a problem and if the government is not doing anything to curtail our reproduction rate via family planning for each family especially in the northern part of the country…. Then we have a bigger problem ahead.

Only consume dey sabi

fashrola:


Our population is really a problem and if the government is not doing anything to curtail our reproduction rate via family planning for each family especially in the northern part of the country…. Then we have a bigger problem ahead.

Are u bigger than China and India. Is your population not the same with Brazil, Pakistan and Bangladesh

Population explosion, government and citizens need to be proactive

dominique:
With the way almost everybody is dabbling into agriculture, we're still importing food to this extent. We're a consumer nation, nothing we can do about it.

The farmers too cunny, produce and hoard, then take crazy low interest loan and yet the food prices surges aren’t reflective in micro economics. A little competition perhaps to keep everyone on their toes

Baba till 2027

When evil people rule things will go down so fast

Every nation imports food!

dominique:
With the way almost everybody is dabbling into agriculture, we're still importing food to this extent. We're a consumer nation, nothing we can do about it.

dominique:
With the way almost everybody is dabbling into agriculture, we're still importing food to this extent. We're a consumer nation, nothing we can do about it.

Go and read about how China did it. We have not done anything in agriculture yet.

If food price inflation comes down, just know it’s not because of anything innovative the government has done.

It’s because of importation.

However the success of this strategy is dependent on stability or volatility of the exchange rate. If the exchange rate keeps deteriorating, it ain’t gonna help sort food price inflation and food security.

fashrola:


Our population is really a problem and if the government is not doing anything to curtail our reproduction rate via family planning for each family especially in the northern part of the country…. Then we have a bigger problem ahead.

/
Population is never a problem. Are you more populated than China or India? Herdsmen, Boko Haram and ISWAP have made farming impossible in the food basket area of the nation.
FG doesn’t seem to care. They’d rather chase tails./

Pls stop using population to criticize nigeria.

Apart from the war, is russia doing bad!

fashrola:


Our population is really a problem and if the government is not doing anything to curtail our reproduction rate via family planning for each family especially in the northern part of the country…. Then we have a bigger problem ahead.

How many farmers can access their farmlands due to herders and bandits kidnapping and killings. I have farms in Kwara, my workers cant access due to fear.

dominique:
With the way almost everybody is dabbling into agriculture, we're still importing food to this extent. We're a consumer nation, nothing we can do about it.

It is not all about everybody dabbling into agriculture, what is the capacity? All the rice farmers in Nigeria may be producing less rice than a couple of farmers in Thailand.

I read an article from the Rice Growers Association of Nigeria and they opened up that our soil texture, weather and economies of scale would make it more attractive for imported rice to thrive.

A particular farmer who has is a middleman and was interviewed in the Rice Farming trade revealed that the shelf life of the locally grown rice variant is shorter and also begins to stick together few months after storage.

dominique:
With the way almost everybody is dabbling into agriculture, we're still importing food to this extent. We're a consumer nation, nothing we can do about it.

The food production has since received a decline due to factors like political instability, insecurit which affects the lives of farmers and stopped them from going to farm, rising cost of amenities like electricity and transportation which also affects food preservations and many more

dominique:
With the way almost everybody is dabbling into agriculture, we're still importing food to this extent. We're a consumer nation, nothing we can do about it.

Everybody is going into Agriculture yet prices kept on going higher. Farmers inflated prices of food products claiming they want to maximize profits. It's unfortunate that prices of foodstuff reduced because of the recent imports.

Importing food is better than importing petrol.

dominique:
With the way almost everybody is dabbling into agriculture, we're still importing food to this extent. We're a consumer nation, nothing we can do about it.

Seems like everybody but i yiimu !! what you should be looking at is " the scale of production"
lots of people are going into agriculture but on what scale .. one farmer in america can feed more than a state

In Nigeria 100 farmers put together cant feed Lagos scale is what makes the difference

Kukutente23:
No big deal
We are paying debts and increasing allocation to politicians
That's the primary purpose of Government
All other matters are frivolous

Paying debts from new loans and larger debts.
This is the brilliant ebilokan way to worsen everything that we thought Buhari was clueless about.

adenigga:

Nigeria’s public debt increased by 48.58 percent to N144.67 trillion as of December 2024 from N97.34 trillion recorded at the end of 2023.


Nigeria’s Debt Management Office disclosed this in its latest report on the country’s public debt profile.

Further analysis showed that Nigeria’s public debt surged by N47.32 trillion on a year-on-year basis.

The report also revealed a quarter-on-quarter rise of 1.65 percent from the N142.32 trillion recorded at the end of September 2024, which indicates that the country’s debt profile has been on a steady rise.

The rise in the debt profile of Africa’s most populous nation is mainly driven by external and domestic borrowing.

External debt rose by 83.89 percent to N70.29 trillion in December from 38.22 trillion in the same period in 2023.

Similarly, domestic debt rose by 25.77 percent to N74.38 trillion in December 2024 from 59.12 trillion at the end of December in 2023.

Accordingly, further breakdown of external debt shows that the federal government ed for N62.92 trillion ($40.98 billion), while states and the FCT held N7.37 trillion ($4.80 billion).

In the domestic debt segment, the federal government held N70.41 trillion ($45.86 billion), with states and the FCT ing for N3.97 trillion ($2.58 billion).


The increase in Nigeria’s debt profile has raised concerns among financial experts.

The Chief Executive Officer of the Centre for Promotion of Private Enterprises, Dr. Muda Yusuf, criticised the rising debt rise in Nigeria despite the huge infrastructural deficit.

Source: https://dailypost.ng/Nigerias-debt-rises-by-N47tn-to-hit-N144.67tn