Nigeria’s agricultural imports slumped 20 percent to a three-year low, reflecting the country’s struggling consumer demand.
A total of N827.7 billion worth of agricultural products was imported into the country in the first quarter of 2026, according to the National Bureau of Statistics in its latest foreign exchange report.
Agricultural imports decreased by N212.3 billion, or 20 percent, on a year-on-year basis, from N1.04 trillion in the first quarter of 2025 to N827.7 billion. On a quarter-on-quarter basis, it decreased by N609 billion, or 42.4 percent, from N1.44 trillion in the fourth quarter of 2025.
The figure for the first quarter of 2026 accounted for 6.08 percent of total imports for the period.
Experts attributed the decline to Nigerians’ low purchasing power. With the cost of everything from food to stationery surging, Nigerians’ purchasing power has taken a dive.
“Nigerians are not buying owing to low purchasing power, and this
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