The analysis of skimmed cow milk production in Nigeria shows a relatively stable yet fluctuating trend over the last decade. From 2013 to 2023, the production stood at 231.44 thousand metric tons in 2023. Over these years, there have been significant fluctuations with a steep decline in 2015 by 12.18%, followed by a recovery phase. Recent years, 2022 and 2023, observed a modest year-on-year increase of 0.61% and 0.60%, respectively, while the compound annual growth rate (CAGR) over the last five years indicates a mild positive trend of 0.63%.
Future trends to watch for:
- Monitor the expected steady growth with a forecasted 5-year CAGR of 0.48%, leading to a production of 238.61 thousand metric tons by 2028.
- Potential impacts of economic conditions, government policies, and technological advancements in dairy farming on production levels.
- Any significant changes in local demand or export opportunities that could influence production trends.
