Key Market Indicators
Nigeria's palm oil consumption is expected to reach 1.44 million metric tons by 2026, up from 1.38 million metric tons in 2021. This represents an average yearly growth rate of 0.7%. Since 2017, Nigerian demand has decreased by 0.2% annually. Meanwhile, palm oil production in Nigeria is forecast to reach 1.06 million metric tons by 2026, up from 1.04 million metric tons in 2021. This translates to an average yearly growth rate of 0.3%. Since 1966, Nigerian supply has increased by 1.7% each year.
