The import of doors, windows, and frames of iron or steel to Nigeria showed a steady decline from 2023 to 2028. Starting from 2023, the volume import stood at 17.343 million kilograms. In 2024, the volume is again forecasted to be at the same level. However, it decreases gradually year-on-year by approximately 8% in 2025 to 15.908 million kilograms, 8.8% in 2026 to 14.502 million kilograms, 9.5% in 2027 to 13.124 million kilograms, and 10.3% in 2028 to 11.774 million kilograms. The Compound Annual Growth Rate (CAGR) over these five years averages about -8.3% per year.
Future trends to watch for:
- Economic factors such as currency fluctuations and import policies that could impact import costs.
- Local production capacity and advancements potentially reducing dependency on imports.
- Changes in construction industry demand driven by urbanization and infrastructure projects.
- Impact of global steel prices and supply chain dynamics on import volume.
