The volume of chicken meat slaughtering in Nigeria has shown variability over the past decade, oscillating between growth and decline. In 2023, the sector stood at 256.28 million units. The past two years have demonstrated a moderate uptick, with a year-on-year variation of 0.92% in 2023. On reviewing the five-year period leading up to 2023, the compound annual growth rate (CAGR) was -0.3%, indicating a slight downward trend. However, forecasts predict a minor recovery with a 5-year CAGR of 0.74% leading to a 3.74% growth rate by 2028.
Looking forward, future trends to monitor include:
- Economic factors such as inflation and consumer purchasing power which could affect demand.- Government policies and support for local poultry farming.- Disease outbreaks impacting poultry health and meat supply.- Technological advancements in poultry farming practices.
