Nigeria spends $10bn annually on food imports — FG

The Federal Government has revealed that Nigeria spends more than $10 billion every year importing food items such as wheat, rice, sugar, fish, and even tomato paste.

Minister of Agriculture and Food Security, Senator Abubakar Kyari, disclosed this on Tuesday at the First Bank of Nigeria Ltd. 2025 Agric and Export Expo in Lagos, where he stressed the urgent need to boost local production and agricultural exports.

Kyari, represented by his Special Adviser, Mr Ibrahim Alkali, described the rising import bill as unsustainable, noting that agriculture already contributes 35 per cent to the nation’s Gross Domestic Product (GDP) and employs about the same proportion of the workforce.

“Nigeria spends over $10 billion annually importing food such as wheat, rice, sugar, fish and even tomato paste. Yet, we earn less than $400 million from agro exports. To build a non-oil export economy, we must rethink how we finance agriculture,” the minister said.

He lamented that despite Nigeria’s vast agricultural potential, 85 million hectares of arable land and a youthful population where over 70 per cent are under 30, the country accounts for less than 0.5 per cent of global exports.

Kyari reiterated President Bola Tinubu’s commitment to achieving food sovereignty, explaining that Nigeria must not only feed itself but also reduce dependence on imports.

“Food sovereignty means ensuring that no Nigerian goes hungry because of shocks in the global food supply chain. Boosting domestic production and building support for exports are not separate agendas—they are two sides of the same coin,” he said.

The minister identified financing, infrastructure, and value addition as critical gaps preventing Nigeria from unlocking its agricultural potential, adding that structured financial systems, forward contracts, and innovative mechanisms such as Pay-as-Harvest could drive the sector forward.

According to him, pivoting from oil dependence to agricultural resilience is key:

“We have the land, the labour, and the markets, but we lack the system of financing, value addition, and infrastructure that converts potential into prosperity.”

ALSO READ TOP STORIES FROM NIGERIAN TRIBUNE