Browse Data and Analysis

In January 2024, Nigeria became the second country in Africa to approve the commercial release of four biotech (TELA) maize varieties.

Nigeria is one of Africa's largest retail consumer markets, however in 2023-2024, difficult economic conditions and changing government policies have taken a bite out of the country's food retail prospects. This report provides an overview of Nigeria’s retail sector, including market entry strategies, structure, distribution channels, and best export prospects.

Imports of wheat, rice, and corn in marketing year (MY) 2024/25 are estimated to increase as the economy stabilizes, inflation decreases, and the government implements a temporary zero-duty import policy for the afore-mentioned commodities until December 31.

Uruguayan beef exports in 2025 are forecast to remain unchanged at 475,000 tons carcass weight equivalent (cwe). The final volume will depend on how active Chinese buyers are the remainder of the year and FOB prices. Exports to the United States are projected to remain high.

On August 14, Nigeria’s Customs Service publicly released implementation guidelines that temporarily waives all import (and associated levy) taxes for rice, sorghum, millet, corn, wheat, and beans until December 31, 2024. This policy was announced in mid-July by the Minister of Agriculture to “to ameliorate food inflation in the country.”

Unlike the many smaller trade shows in Nigeria, Food and Beverage (FAB) West Africa 2024 stood out as a well-attended, well-organized, and diverse trade show featuring snack and processed foods, confectionery products, beverages, food ingredients, dairy products, grains, seafood, and food service equipment.

Nigeria is the most populous country in Africa, with a relatively young and urbanizing populace. While there are clear food and agricultural export opportunities, the weakened economy is still making its way out of a very difficult 2023. Consumers are contending with food price inflation, and wages have not kept pace with the increase in living costs.

Nigeria maintains several lists of agricultural and related products prohibited from trade, including at least two export lists and one import list. The scope of many products on these lists is not always well described, leading to misinterpretation and confusion.

This report provides information on the food and agricultural laws and regulations to import food into Nigeria. Laws regulating and monitoring food safety standards and practices were updated in Section 1. Labeling requirements were revised in Section II in line with the most recent regulation changes.

Uruguayan wheat production in marketing year (MY) 2024/2025 is forecast at 1.3 million tons, 260,000 tons lower than the previous crop season which saw record high yields. Wheat exports are projected down at 800,000 tons, 29 percent lower than the previous year.

Post forecasts Uruguay’s marketing year (MY) 2024/25 soybean up to 3.4 million metric tons (MMT) on increased soy acreage planting, driven by increased acreage in second or late crop soy due to producers fears of another dry year of La Niña weather pattern and potential disease threat to corn, preferring soy over corn.

FAS-Lagos forecasts a 6 percent decrease in raw sugar imports in marketing year (MY) 2024/25 due to the scarcity of foreign exchange and the projected decrease in consumption.