The oilseeds export volume in Nigeria has experienced significant fluctuations between 2014 and 2023. The volume increased dramatically from 164 thousand metric tons in 2014 to a peak of 286 thousand metric tons in 2017, indicating volatility year-on-year. A severe decline occurred in 2018, followed by partial recovery and subsequent declines leading to 77 thousand metric tons in 2023. The year-on-year decline from 2022 to 2023 is 7.23%, while the five-year CAGR from 2018 to 2023 is -11.84%, showing a general downward trend.
Future trends indicate a continued decline in oilseeds export volume, with a forecasted five-year CAGR of -9.6% and an anticipated reduction of 39.61% by 2028. Monitoring global market conditions, domestic agricultural policies, and technological advancements in oilseed cultivation could provide insights into potential recovery opportunities.
