The hydraulic cement production in Nigeria has shown significant fluctuations over the years. In 2023, the production stood at 23.63 million metric tons. Historical trends indicate considerable volatility, with a marked decrease of 17.31% in 2020 followed by recovery periods. Specifically, the period from 2018-2022 averaged a CAGR of around 2.39%, showing moderate growth after a dip in 2020.

Looking at the forecast, the projected value by 2028 is 25.46 million metric tons, translating to a forecasted 5-year CAGR of 1.23%. The overall growth rate from 2023-2028 is expected to be around 6.31%, indicating a more stable and steady increase in production in the coming years.

Future trends to watch for include:

Technological advancements that could enhance production efficiency.
Economic policies that might impact construction activities and thus cement demand.
Environmental regulations potentially limiting production capacities.
Global supply chain dynamics that could affect raw material availability.