The milled rice supply in Nigeria stood at 9.49 million metric tons in 2023. Forecasted data indicates a steady growth pattern from 9.67 million metric tons in 2024 gradually increasing to 10.43 million metric tons by 2028. The year-on-year variation shows a consistent growth rate, approximately 2% annually for the next five years. The compound annual growth rate (CAGR) over this period is estimated at around 1.9%.

Future trends to watch for:

Advancements in agricultural technologies and their potential impact on rice production efficiency.
Government policies on agriculture subsidies and support for local farmers.
Climate change and its effects on rice cultivation areas in Nigeria.
Investment in infrastructure for storage and processing to reduce post-harvest losses.
Evolving consumer demand and dietary shifts within the region.