Nigeria's imports of food and beverage have grown in value by 265% since 2020, reaching ₦6.6T in 2024

  • Nigeria’s food and beverage imports increased almost ninefold, from ₦0.7 trillion in 2013 to ₦6.6 trillion in 2024.
  • Imports remained relatively stable between 2015 and 2019, averaging around ₦1.1–₦1.6 trillion.
  • A major spike occurred in 2021, when imports surged by 62%, reaching ₦2.9 trillion.
  • Overall, the trend underscores Nigeria’s ongoing challenge of reducing dependency on imported food and beverages despite policies aimed at self-sufficiency.

Nigeria’s food and beverage imports have witnessed a significant rise over the past decade, growing from ₦0.7 trillion in 2013 to ₦6.6 trillion in 2024—an increase of nearly ₦6 trillion. This sharp growth highlights the country’s deepening reliance on imported consumables despite efforts to boost local production. The import value has surged in recent years, particularly between 2023 and 2024, when it jumped by an astounding 72% year-on-year, indicating intensifying demand pressures and possibly weaker domestic supply capacity.

Source:

National Bureau of Statistics

Period:

2013 - 2024
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Nigeria's energy goods imports have stayed low and stable for 7 years, while exports increased from ₦37B to ₦263B
  • Nigeria’s energy goods exports rose from ₦37.3B in 2017 to ₦262.9B in 2024, before falling to ₦154.2B in H1 2025.
  • Imports remained consistently low, ranging from ₦24.2M to ₦353.1M throughout the period.
  • Export growth outpaced imports, showing a widening trade surplus in energy goods.
  • The 2024 spike in exports represents the highest export value within the nine-year window.
  • Energy imports stayed below ₦400M yearly, indicating low dependency on foreign energy goods.
For most of the period (2013-H1 2025), China's share of Nigeria's imports from Asia hovers around 50%-55%, showing dominance
  • China has dominated Nigeria’s imports from Asia, maintaining a 50–55% share for most of the period.
  • China’s share reached its highest level at 58.6% in H1 2025.
  • India's import share remained volatile, ranging between 11% and 25%.
  • Total imports from Asia surged from ₦2.6 trillion in 2013 to ₦16.4 trillion in H1 2025.
Nigeria's agricultural imports' share has been dropping, from 83.9% (2017) to a low of 42.9% (H1 2025)
  • Agricultural imports fell from 83.9% in 2017 to 42.9% in H1 2025, indicating a significant decline in import dependency.
  • Agricultural exports grew from 16.1% in 2017 to 54.0% in 2024, surpassing imports for the first time since 2017.
  • Total agricultural trade increased from ₦1.1 trillion in 2017 to ₦8.2 trillion in 2024.
  • Between 2022 and 2024, the import share dropped significantly from 75.7% to 46.0%.
Crude oil imports in Nigeria emerged in H1 2025 (the first since 2017), capturing a 10.2% share of the total crude oil trade
  • Crude oil imports into Nigeria in H1 2025 marked the first occurrence since 2017.
  • Crude oil imports accounted for 10.2% of total crude oil trade.
  • From 2017 to 2024, exports made up 100% of crude oil trade annually.
  • Total crude oil trade peaked at ₦55.3 trillion in 2024.
  • The emergence of crude oil imports can be linked to domestic refinery operations, especially the Dangote Refinery.
Asia and Europe (combined) have consistently represented over 70% of Nigeria's total imports since 2013
  • Asia and Europe have consistently represented over 70% of Nigeria’s imports since 2013.
  • Asia’s share of imports reached a record 53.5% in H1 2025.
  • Europe contributed 23.1% of total imports in H1 2025.
  • Imports from the American region averaged between 10%–14% over the period.
  • Africa’s import share remained below 10%, showing limited regional trade.
The Netherlands held the largest share of Nigeria's imports from Europe for most of the period, averaging 20% of annual imports
  • The Netherlands has mostly been the top European import source, with Nigeria averaging 20% of annual imports from the region.
  • Netherlands' highest share of Nigeria's imports was 27.9% in 2018.
  • The United Kingdom consistently contributed around 5–15% of Nigeria’s European imports.
  • Germany’s share remained relatively stable at 5–10% over the years.
  • France, Italy, and Spain maintained smaller shares, mostly under 7%.
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