Despite policies aimed at boosting local production, Nigerians spent a staggering N21.51tn on imports, including foodstuffs and other goods, over the past four years, data from the National Bureau of Statistics have revealed.
A breakdown of the data shows that N6.77tn was spent on the importation of prepared foodstuffs, beverages, spirits, vinegar, and tobacco during the period under review.
The expenditure rose from N594.08bn in 2020 to N2.79tn in 2024, reflecting a consistent increase in Nigeria’s reliance on foreign food products.
The importation of live animals and animal products also surged, totaling N3.64tn over four years. This category saw a sharp rise from N454.52bn in 2020 to N1.49tn in 2024.
Similarly, plastic, rubber, and related articles accounted for the highest import expenditure at N7.72tn, while textiles, once a thriving Nigerian industry, recorded an import bill of N1.93tn.
Other notable import expenditures include N167bn on footwear and headgear, N909bn on wood and charcoal, and N373bn on raw hides, skins, and leather products.
'
'
'
'Do you want to share a story with us? Do you want to advertise with us? Do you need publicity for a product, service, or event? Contact us on WhatsApp +2348183319097 Email: platformtimes@gmail.com
We are committed to impactful investigative journalism for human interest and social justice. Your donation will help us tell more stories. Kindly donate any amount HERE
