Trillions Spent, Prices Soar: Why Food in Nigeria Stays Expensive
Food prices in Nigeria remain high despite over ₦7.65 trillion spent on imports and support programs in 2025. Many households still struggle to afford basic staples. Data shows the government spent ₦9.74 billion on support schemes in 2024 and distributed ₦185 billion for rice and fertiliser in 2023. Food import bills rose from ₦3.83 trillion in 2023 to ₦7.65 trillion in 2025. Inflation eased from 40.8% in mid-2024 to 8.89% in early 2025 but climbed back to 14.31% by March 2026. Experts point to systemic problems driving prices higher. Poor storage and weak distribution lead to waste. Fuel costs and a weak naira push transport and input prices up. Security challenges, over-reliance on imports and climate shocks also squeeze supply. Long-term fixes include better farming methods, storage facilities and rural roads. Recent measures include a ₦1 billion agricultural education reform, a ₦250 billion loan facility for smallholders and a $1 billion partnership to boost production. Experts say tackling structural issues is key to real relief.
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