The demand for maize in Nigeria has experienced fluctuations over the past decade. From 2014 to 2023, maize demand grew from approximately 10.23 million metric tons to 11.63 million metric tons. In 2023, the demand stood at 11.63 million metric tons, reflecting a year-on-year variation of 0.61% and a CAGR of 0.73% over the past five years. The largest annual increase was in 2016 with a 10.63% rise, followed by a -6% decline in 2017. Forecasts indicate a continued steady growth, reaching around 12.0 million metric tons by 2028.
Future trends to watch for include:
- Climate change impacts on maize production.
- Evolving agricultural policies and their effect on supply.
- Technological advancements in farming and their adoption rates.
- Changes in domestic and international maize market prices.
- Population growth and shifting dietary patterns.
