The import of frozen fish to Nigeria in 2023 stood at 512.85 Million US Dollars. The forecasted data for 2024 to 2028 shows a consistent decline in import values. Specifically, the projected values are 492.4 Million in 2024, 472.75 Million in 2025, 453.49 Million in 2026, 434.62 Million in 2027, and 416.12 Million in 2028. This indicates an annual year-on-year variation of approximately -3.89% in 2025, -4.08% in 2026, -4.17% in 2027, and -4.27% in 2028. The Compound Annual Growth Rate (CAGR) over this five-year period is estimated to be -4.11%.
Future trends to watch for include potential regulatory changes affecting import policies, fluctuations in global fish prices, domestic fish production changes, and shifts in consumer preferences towards alternative protein sources. Keeping an eye on these factors will be crucial for understanding the long-term trajectory of frozen fish imports in Nigeria.
