In 2023, the soybean yield in Nigeria stood at 9.75 thousand hectograms per hectare. Forecasted data for the period from 2024 to 2028 shows a steady increase: 9.82 in 2024, 9.89 in 2025, 9.95 in 2026, 10.02 in 2027, and 10.08 in 2028. The year-on-year variation rates are as follows: 0.72% from 2023 to 2024, 0.71% from 2024 to 2025, 0.61% from 2025 to 2026, 0.70% from 2026 to 2027, and 0.60% from 2027 to 2028. The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 is approximately 0.66%.
Future trends to watch for include advancements in agricultural technology, climate changes impacting yield, government policies on agriculture, and global market trends for soybeans. These factors could influence the rate of yield growth or cause significant shifts in the projected forecasts.
