Between 2013 and 2023, the import of corrugated sheets of asbestos, cellulose fibre cement to Nigeria showed substantial volatility, culminating at 374.82 thousand US Dollars in 2023. The year-on-year variation saw dramatic fluctuations with peaks in growth such as the 852.22% surge in 2013, followed by drastic drops like the -85.54% decline in 2014. The compound annual growth rate (CAGR) over the past five years showcased a modest 3.03% increase annually.
In the forecast period from 2024 to 2028, the forecasted imports are projected to rise steadily, with a 5-year CAGR of 2.84%, reaching 449.09 thousand US Dollars by 2028. This indicates a more stabilized but moderate growth over the forecasted years.
Future trends to watch for:
- Global supply chain dynamics and potential inflation impacts on import costs.
- Regulatory changes pertaining to the use of asbestos materials.
- Increasing competition from alternative materials in the construction sector.
- Potential political and economic shifts in Nigeria affecting investment in infrastructure.
