LAGOS, Nigeria- Nigeria spends more than $10 billion annually importing basic food staples, including rice, wheat, sugar, fish, and tomato paste, according to the Federal Government.
Officials warn the dependence on foreign supply is unsustainable and threatens food security.
The disclosure came on Tuesday at the First Bank Agric and Export Expo in Lagos, where Minister of Agriculture and Food Security, Senator Abubakar Kyari, urged urgent reforms to boost self-sufficiency and exports.
Speaking through his Special Adviser, Ibrahim Alkali, Kyari noted that agriculture contributes about 35 per cent of GDP and employs the same share of the population, yet export earnings remain below $400 million.
“While we continue to spend billions importing food, our agricultural exports yield less than half a billion dollars. If Nigeria is serious about diversifying its economy beyond oil, we must transform the way agriculture is funded and supported,” he said.
Despite 85 million hectares of arable land and a youthful workforce, Nigeria represents less than 0.5 per cent of global food exports. Kyari described the imbalance as a “missed opportunity” and called for bold investment.
He stressed President Bola Tinubu’s food sovereignty agenda, highlighting the need to reduce reliance on imports and protect against global food market shocks.
Kyari identified financing gaps, poor infrastructure, and weak value addition as key barriers. “We have the land and the manpower, but without investment and value addition, our agricultural promise will remain untapped,” he concluded.
