Nigeria's food gross production is projected to grow steadily from 2024 to 2028, with values expected to increase from 60.81 billion USD in 2024 to 64.172 billion USD in 2028. In 2023, the actual value stood at approximately 60 billion USD. The year-on-year growth rates are as follows: from 2024 to 2025, a 1.4% increase; from 2025 to 2026, a 1.37% increase; from 2026 to 2027, a 1.34% increase; and from 2027 to 2028, a 1.31% increase. Over the five-year period from 2024 to 2028, the CAGR is approximately 1.35%, indicating moderate but consistent growth in Nigeria's food gross production.
Future trends to watch for in Nigeria's food sector include technological advancements in agriculture, government policies aimed at improving food security, and shifts in consumer preferences towards sustainable and locally-sourced foods. Monitoring these factors will be crucial for stakeholders to capitalize on emerging opportunities and mitigate potential risks.