Health risk factors have been highlighted among Nigerian students at Universiti Putra Malaysia, but the pattern of food expenditure on diets that are said to be a control measure for the prevalence of risk factors such as chronic diseases, obesity, diabetes, and hypertension has been poorly discussed. The purpose of this paper is to examine food expenditure on diets and its relationship to health risk factors among Nigerian students in Universiti Putra Malaysia. Cross-sectional research design was used and data for the study was obtained using structured questionnaire. A total of 236 Nigerian students’ participants from Universiti Putra Malaysia aged 25-45 years consented to participate in this study and 233 were selected through systematic random sampling. Health conditions and personal risk factors were measured with the Institute for Public Health (2015) of National Health and Morbidity Survey (NHMS, 2011) questionnaire. The Center for Disease Control and Prevention (CDC); National Health and Nutrition Examination Survey (NHANES 2007-2008) of Flexible Consumer Behavior Survey (FCBS) on food expenditure questionnaire was used in measuring all food and beverages spending of respondents for the period of 30 days. The data collected was cleaned and entered into a database and analyzed using SPSS version 20. Descriptive analyses for continuous data were expressed in mean and standard deviation while categorical data were presented in percentage. Pearson correlation analyses were used to examine the relationship between food expenditure on diets and health risk factors. The findings of the study showed that 67% were males and 33% females. The association between health risk factors and food expenditure were positively weak, but significant r = 0.14, (231), p < 0.05. The findings suggested that an increase in food expenditure pattern on diets was significantly associated with a minimal increase in health risk factors. For an average student food expenditure on diets, this can lead to a real obstacle to healthy eating. The findings provided recommendations for food expenditure on diets and health risk factors interventions and policies aimed at University students.