The import value of prepared or preserved nuts, seeds, and mixes to Nigeria has seen variable trends over the past decade. It experienced dramatic increases in 2013 and 2014, followed by a significant drop in 2016. The market rebounded in the following years, particularly between 2017 and 2018, although it faced slight declines in 2019 and 2020. The trend improved again from 2021 onwards, with consistent growth into 2023 where it stood at 1,112.7 thousand US dollars. The year-on-year growth between 2022 and 2023 was 5.25%, while the average annual growth rate over the last five years (CAGR) was 1.08%.
Looking ahead, forecasts suggest steady growth in the sector with a projected five-year CAGR of 3.63% and an overall growth rate of 19.51% by 2028.
Future trends to watch for include potential disruptions from global supply chain challenges, shifts in consumer preferences toward local alternatives, and regulatory changes impacting import tariffs and taxes.
