Food prices across Nigeria remain stubbornly high despite massive government interventions and a surge in imports valued at N7.65 trillion in 2025, raising fresh concerns about the effectiveness of current policy measures.
Insights from economic and development experts, alongside official data, reveal a widening disconnect between government spending and real market outcomes, as households continue to grapple with declining food affordability.
Data from the National Bureau of Statistics (NBS) show that food and beverage imports have climbed sharply—from N3.83 trillion in 2023 to N6.58 trillion in 2024, and further to N7.65 trillion in 2025. Yet, this increase has not translated into lower food prices.
Government interventions have also intensified. According to BudgIT, about N9.74 billion was spent on food palliatives in 2024, following a N185 billion programme in 2023 that supported rice and fertiliser distribution across states. In addition, the Federal Government introduced a zero-duty policy on selected food imports in 2024 to curb inflation.
While that policy briefly reduced food inflation from 40.8 per cent in mid-2024 to 8.89 per cent in early 2025, the relief proved temporary. By March 2026, food inflation had risen again to 14.31 per cent, contributing significantly to overall inflation of 15.38 per cent.
Experts argue that the persistence of high prices points to deeper structural issues rather than insufficient spending. Agricultural economist Adebayo Oladipo notes that weak supply chains and high post-harvest losses continue to undermine outcomes.
“If storage is poor and farmers cannot scale production, increased funding will not automatically lower prices,” he said, warning that significant portions of harvests are lost before reaching the market.
Development expert Zainab Usman highlights the role of rising fuel costs, which increase transportation expenses across the food value chain. Similarly, economist Ibrahim Yusuf points to exchange rate volatility, which has raised the cost of both imported food and agricultural inputs.
The reliance on imports, experts warn, may offer short-term relief but exposes the country to global price shocks and foreign exchange constraints. According to development specialist Aminu Barko, a sustainable solution must be rooted in stronger domestic production.
Security challenges and climate variability are compounding the crisis. Insecurity in key farming regions has limited production, while floods and droughts continue to disrupt planting cycles and reduce yields.
For households, the impact is severe. With food accounting for a large share of consumer spending, rising prices are forcing families to cut both the quantity and quality of meals, deepening what experts describe as a full-blown cost-of-living crisis.
Despite recent initiatives, including agricultural reforms and expanded credit facilities through the Bank of Agriculture, analysts agree that lasting solutions will require coordinated structural reforms. Investments in mechanisation, rural infrastructure, storage systems, and security are seen as critical to stabilising Nigeria’s food system and easing price pressures over the long term.
