U.S. soybean shipments to Nigeria surged in 2024, reaching around 64,000 metric tons, marking a sharp rebound after years of low imports. Figures shared by Ecofin Agency reveal that between 2019 and 2023, Nigeria’s imports from the U.S. averaged just 14,239 tons per year.
The surge reflects Nigeria’s expanding demand for soybeans in food processing, livestock feed, and manufacturing. Domestic output has been unable to keep pace, slipping by roughly 14% from 1.1 million tons in 2021 to 948,000 tons in 2024, data from NAERLS showed in Ecofin Agency’s coverage.
This renewed trade momentum was underscored at the U.S. Soybean Export Council’s “Nigeria: NOW” conference in Lagos, which brought together government officials and private sector leaders. As Nairametrics reported, the event highlighted the role of U.S. exports in strengthening Nigeria’s protein supply chain and deepening bilateral trade links.
Industry analysts stressed in Telegraph NG that with U.S. suppliers regaining a foothold, Nigerian agribusinesses may benefit from more secure raw material flows, even as pressure mounts on local producers to scale up output and reduce reliance on imports.
