In 2023, the import of insecticides to Nigeria stood at 69.45 million USD. The forecasts for the subsequent years show a gradual decline: 69.214 million USD in 2024, 68.975 million USD in 2025, 68.741 million USD in 2026, 68.511 million USD in 2027, and 68.286 million USD in 2028.
Year-on-year variation indicates:
- 2024: -0.34%
- 2025: -0.34%
- 2026: -0.34%
- 2027: -0.34%
- 2028: -0.33%
The Compound Annual Growth Rate (CAGR) over the last 5 years is approximately -0.34%, reflecting a consistent but slight decline in the import of insecticides.
Future trends to watch for:
- Changes in agricultural policies or subsidies that could affect import volumes.
- Shifts in pest control technologies or preferences towards organic methods.
- Economic factors such as currency fluctuations impacting import costs.
