By Oluyinka Onigbinde
Nigeria spent a total of N1.39 trillion on food and beverage imports in the first quarter (Q1) of 2026, despite an overall decline in the country’s import expenditure during the period under review. Findings by Shipping Position Daily have revealed.
Data obtained from the National Bureau of Statistics (NBS) showed that the figure represents a 16.7 per cent drop compared to the N1.67 trillion recorded in Q1 2025, reflecting a broader slowdown in Nigeria’s import activities across key sectors.
A breakdown of the food import bill indicates that primary food products accounted for N634.05 billion, while food and beverages for industrial use stood at N353.24 billion. Household consumption items contributed N280.81 billion to the total food import expenditure.
The report further showed that agricultural-specific imports, including staple commodities such as wheat, totaled N827.72 billion during the quarter. Durum wheat remained a dominant import item, with Russia and Canada emerging as leading suppliers to Nigeria’s flour milling and food processing industries.
Despite efforts to boost local production, Nigeria continues to rely heavily on imported staples such as wheat and rice to meet domestic demand. Rice imports, though reduced in recent years, still play a significant role in bridging supply gaps in urban markets, while sugar, fish, dairy products, and vegetable oils also remain major import components.
On the export side, agricultural exports stood at N1.17 trillion in Q1 2026, representing a 31.2 per cent decline compared to N1.70 trillion recorded in the corresponding period of 2025. Agricultural imports also fell by 20.09 per cent year-on-year, indicating a simultaneous contraction in both inflows and outflows within the agricultural trade segment.
Overall, Nigeria’s total merchandise trade for the quarter stood at N34.78 trillion. Exports accounted for 60.85 per cent of total trade, driven largely by crude oil, which remained the country’s dominant export commodity valued at N11.20 trillion. Non-oil exports contributed N9.97 trillion, reflecting ongoing diversification efforts, although oil continues to dominate export earnings.
Imports totaled N13.62 trillion, representing 39.15 per cent of total trade, with machinery and transport equipment, mineral fuels, and chemicals ranking among the top import categories. The country also recorded a trade surplus of N7.55 trillion, largely supported by higher crude oil exports and reduced import volumes.
China remained Nigeria’s largest import partner during the period, followed by India, the United States, the Netherlands, and the United Arab Emirates. On the export side, major destinations included India, France, the Netherlands, Spain, and the United States.
Analysts say the figures highlight a dual reality for Africa’s largest economy: while macroeconomic indicators such as trade surplus appear strong, Nigeria’s persistent dependence on imported food items continues to expose structural weaknesses in domestic agricultural production and processing capacity.
They further note that unless local production of staples such as wheat, rice, dairy, and fish is significantly scaled up, the country will remain vulnerable to external supply shocks and global price fluctuations.
