From 2014 to 2023, nut production in Nigeria has shown a consistent downward trend. In 2023, the production stood at 234 Thousand Metric Tons, declining by 0.85% year-on-year. The compound annual growth rate (CAGR) over the last five years was -0.91%. Historical data from 2015 to 2019 shows fluctuations with a general downward trend, including a significant drop of 7.06% in 2016. From 2020 to 2023, production showed variations with decreases in most years, except a brief increase in 2021.
Looking ahead, production forecasts from 2024 to 2028 predict continued declines. With a forecasted 5-year CAGR of -0.8%, the total growth rate by 2028 is projected to be -3.95%. Trends to watch include potential impacts of climate change, agricultural policy shifts, and advancements in farming technologies.
