Oilseeds loss figures in Nigeria have shown fluctuations over the past decade, starting from 445.0 thousand metric tons in 2014 and reaching 462.0 thousand metric tons by 2023. The year-on-year variations reveal significant volatility, with noticeable spikes such as a 13.02% increase in 2016 and a notable decline of 15.82% in 2017. Over recent years, the trend has shown more stability, with minimal changes from 2020 onwards.
The compound annual growth rate (CAGR) over various periods indicates limited long-term growth, fluctuating around 0.1% in the past five years. Projecting into the future, a stable, albeit minimal, increase is expected, with year-on-year growth hovering around 0.09% CAGR by 2028.
Future trends to watch for include potential agricultural advancements or policy changes that could mitigate losses, fluctuations in market demands, and the impact of climate change on crop yields. Monitoring these factors will be crucial for anticipating and managing future oilseeds losses in Nigeria.
