In 2023, the gross production of wheat in Nigeria stood at 20.71 million US dollars PPP. The forecasted data for the subsequent years indicates a steady growth: 20.77 in 2024, 20.83 in 2025, 20.89 in 2026, 20.95 in 2027, and 21.01 million US dollars PPP in 2028. This equates to year-on-year percentage variations as follows:
- 2023 to 2024: 0.29%
- 2024 to 2025: 0.29%
- 2025 to 2026: 0.29%
- 2026 to 2027: 0.29%
- 2027 to 2028: 0.29%
Overall, the Compound Annual Growth Rate (CAGR) for the period from 2023 to 2028 is approximately 0.29%. This consistent and modest growth reflects stability in the wheat production landscape in Nigeria.
Future trends to watch for include technological advancements in agriculture, climate change impacts, and governmental policy changes related to agricultural subsidies and import/export regulations. Additionally, paying attention to global wheat market prices and potential shifts in domestic consumption patterns could provide further insights into the long-term sustainability of this growth trend.
