Cottonseed oil production in Nigeria exhibited a downward trend from 2014 to 2023, declining from 14.0 thousand metric tons to 11.0 thousand metric tons, representing an overall decline of approximately 1.73% per year on average (CAGR). The most significant year-on-year reductions occurred in 2016 and 2017, with decreases of 7.14% and 7.69%, respectively. Though there was a temporary recovery in 2021 with a 5.26% increase, the general trend remained negative. In 2023, production stabilized at 11.0 thousand metric tons with no year-on-year variation.
Future projections suggest a continued decline in production, with a CAGR of -1.43% over the next five years, which would result in about a 6.94% decrease by 2028. This trend reflects the challenges in the industry, possibly due to issues such as agricultural inefficiencies, climate conditions, or economic factors.
Future trends to watch for include advancements in agricultural technology, solutions to climate challenges, policy changes, and economic developments that could potentially mitigate or reverse the declining trend in cottonseed oil production in Nigeria.
