The sawnwood production in Nigeria remained static at 2.002 million cubic meters from 2013 to 2022. A slight increase was noted in 2023, with production rising to 2.0154 million cubic meters, showing a year-on-year increase of 0.67%. This recent uptick translates to a CAGR of 0.13% over the last five years. Forecasts from 2024 to 2028 suggest a gradual increase, with production anticipated to reach 2.0801 million cubic meters by 2028, reflecting a forecasted CAGR of 0.5% and a total growth rate of 2.54% over this period.
Future trends to watch for:
- The impact of government policies targeting forestry management and conservation.
- Technological advancements in sawnwood production and their adoption within Nigeria.
- Changes in domestic and international demand for sawnwood products.