The Federal Government has disclosed that Nigeria spends over $10 billion annually importing food items such as wheat, rice, sugar, fish, and tomato paste.

Minister of Agriculture and Food Security, Senator Abubakar Kyari, revealed this on Tuesday at the First Bank of Nigeria Ltd. 2025 Agric and Export Expo in Lagos, where he stressed the urgent need to boost local production and strengthen agricultural exports.

Kyari, who was represented by his Special Adviser, Mr. Ibrahim Alkali, described the rising food import bill as unsustainable, noting that agriculture already contributes 35 per cent to Nigeria’s Gross Domestic Product (GDP) and employs about the same share of the labour force.

“Nigeria spends over $10 billion annually importing food such as wheat, rice, sugar, fish, and even tomato paste. Yet, we earn less than $400 million from agro exports. To build a non-oil export economy, we must rethink how we finance agriculture,” the minister stated.

He lamented that despite Nigeria’s vast agricultural potential, with 85 million hectares of arable land and a youthful population where more than 70 per cent are under 30, the country accounts for less than 0.5 per cent of global exports.

Reiterating President Bola Tinubu’s commitment to food sovereignty, Kyari emphasized that Nigeria must reduce its reliance on imports while ensuring self-sufficiency.

“Food sovereignty means ensuring that no Nigerian goes hungry because of shocks in the global food supply chain. Boosting domestic production and building support for exports are not separate agendas, they are two sides of the same coin,” he said.

The minister identified financing, infrastructure, and value addition as critical barriers preventing Nigeria from unlocking its agricultural potential. He highlighted the need for structured financial systems, forward contracts, and innovative mechanisms such as Pay-as-Harvest to drive growth in the sector.

According to him, shifting from oil dependence to agricultural resilience is essential.

“We have the land, the labour, and the markets, but we lack the system of financing, value addition, and infrastructure that converts potential into prosperity.”