Nigeria has spent a total of N21.51tn on importing various goods, including foodstuffs and industrial materials, over the past four years, data from the National Bureau of Statistics has revealed.
The data highlights the country’s continued dependence on foreign goods, despite government policies aimed at promoting local production.
Of this amount, N6.77tn was spent on prepared foodstuffs, beverages, spirits, vinegar, and tobacco, with annual spending rising from N594.08bn in 2020 to N2.79tn in 2024.
The importation of live animals and animal products cost N3.64tn over the period, climbing from N454.52bn in 2020 to N1.49tn in 2024.
Plastic and rubber imports accounted for the highest expenditure at N7.72tn, as costs surged from N609bn in 2020 to N3.46tn in 2024.
The textile industry, once a thriving sector in Nigeria, saw a total of N1.93tn spent on imports within four years, with the figure growing from N183bn in 2020 to N726bn in 2024.
Other imports such as wood and related products, footwear, and raw hides also saw notable increases, with spending on these items rising significantly over the period.
The data underscores Nigeria’s growing reliance on foreign goods, raising concerns about the effectiveness of current economic policies aimed at boosting local production.
