Agricultural imports drop 8.5% to N2.03trn in 6 months

By Chinwendu Obienyi

Nigeria’s agricultural imports fell by 8.5 per cent year-on-year to N2.03 trillion in the first half of 2026, indicating a decline in the value of agricultural products brought into the country.

An analysis of the latest Foreign Trade Statistics by the National Bureau of Statistics (NBS) showed that agricultural imports stood at N827.72 billion in the first quarter and rose to N1.20 trillion in the second quarter.

The H1 2026 figure was lower than the N2.22 trillion recorded in the corresponding period of 2025, comprising N1.04 trillion in Q1 and N1.18 trillion in Q2.

Despite the year-on-year decline, agricultural imports increased sharply between the first and second quarters of this year, rising by 45.4 per cent from N827.72 billion to N1.20 trillion.

Agricultural products accounted for 6.08 per cent of Nigeria’s total imports in Q1 2026, down from 6.71 per cent in the same quarter of 2025.

Their share of total imports, however, rose to 8.35 per cent in Q2, compared with 7.75 per cent recorded in Q2 2025.

The decline in agricultural imports came amid stronger export activity in the sector, with Nigerian farmers and agro-processors shipping several commodities to international markets.

In Q2 2026, standard-quality cocoa beans topped the major agricultural exports at N154.31 billion, followed by sesame seeds at N96.03 billion and superior-quality cocoa beans at N58.82 billion.

Soya beans, excluding seeds, generated N50.22 billion, while flours and meals of soya beans accounted for N36.41 billion.

Other major agricultural exports included cut flowers and flower buds valued at N31.43 billion, natural cocoa butter at N27.60 billion and crude shea oil at N12.66 billion.

The performance highlights the growing role of agricultural commodities, particularly cocoa and sesame, in Nigeria’s non-oil exports.

However, the lower import figure does not necessarily mean that domestic production has fully replaced imported agricultural products, as the data does not establish the reasons for the decline.

Agriculture remains one of Nigeria’s biggest sources of employment. NBS data showed that 25.34 million people were engaged in agriculture, forestry and fishing in 2023, representing 30.1 per cent of the country’s total workforce.

The sector also attracted $167.25 million in capital importation in 2025, reflecting continued, though modest, foreign investor interest in agriculture.