In 2023, cotton production in Nigeria stood at 347.0 thousand units (480 lb. bales). From 2024 to 2028, the forecasted values indicate a gradual increase: 348.0, 349.0, 350.0, 351.0, and 351.0 thousand units, respectively. This reflects a minimal year-on-year increase of approximately 0.29% from 2024 to 2025, and similar increments through 2027. However, production stabilizes without further growth in 2028.
Over the last two years, the steady growth trend has been noticeable, albeit with small percentage increases. The compound annual growth rate (CAGR) over this five-year period is approximately 0.23%, illustrating a very gradual growth trend in Nigeria's cotton production.
Future trends to watch for include potential impacts of climate change on cotton yield, technological advancements in agriculture, government policies supporting cotton farming, and shifts in global cotton market demand. Monitoring these factors will be crucial for accurately projecting future trends and mitigating risks.
