Nigeria spends N3.3tn on food imports in 6 months – Oyedokun warns of agricultural crisis

Financial expert and Professor of Accounting astatine Lead City University, Ibadan, Godwin Oyedokun, has reacted to Nigeria’s spending of N3.3 trillion connected nutrient and beverage imports successful the archetypal six months of 2026.

The N3.3 trillion expenditure connected nutrient and beverage imports was contained successful the National Bureau of Statistics’ Q2 2026 Foreign Trade Statistics released connected Tuesday.

DAILY POST reports that NBS information showed that Nigeria’s nutrient and beverage import measure stood astatine N1.39 trillion successful the archetypal 4th of 2026 earlier rising to N1.91 trillion successful Q2, bringing full expenditure for the six-month play to N3.30 trillion.

Meanwhile, the H1 2026 fig represents a 3.1 per cent diminution from the N3.40 trillion spent connected nutrient and beverage imports successful H1 2025.

In 2025, NBS information showed that Nigeria spent N1.67 trillion successful Q1 and N1.73 trillion successful Q2 connected nutrient and beverage imports, bringing the six-month full to N3.40 trillion.

Further investigation of the information showed that superior products imported chiefly for household depletion accounted for N811.93 billion, rising from N280.81 cardinal successful Q1 to N531.12 cardinal successful Q2.<...