The forecast for the import of liquefied propane to Nigeria shows a consistent year-on-year decline from 2024 to 2028. Starting with 53.59 thousand kilograms in 2024, the value drops to 49.65 thousand kilograms in 2025, 45.8 thousand kilograms in 2026, 42.02 thousand kilograms in 2027, and finally 38.31 thousand kilograms in 2028. This negative trend reflects a compound annual growth rate (CAGR) of approximately -7.85% over the five-year period. The substantial yearly declines suggest potential shifts in energy consumption patterns or improvements in domestic production capabilities.
Future trends to watch for include:
• Technological advancements in domestic propane production which could further reduce import dependency.
• Government policies promoting renewable energy sources that could impact the demand for propane.
• Fluctuations in global propane prices which may influence Nigeria's import volumes and strategies.
• Infrastructure developments that could boost storage and distribution efficiencies, possibly affecting import needs.