In 2023, Nigeria's centrifugal sugar supply was 2.1 million metric tons. The forecasted supply for 2024 stands at 2.14 million metric tons, showing a year-on-year increase of 1.9%. Projected figures continue to show an upward trend through 2028, increasing to 2.26 million metric tons. Over the five-year forecast period (2024-2028), the compound annual growth rate (CAGR) averages around 1.6% per year, indicating steady, if modest, growth.

Future trends to watch for:

Impact of government agricultural policies aimed at boosting local sugar production
Changes in global sugar prices and their effect on import levels
Technological advancements in sugarcane processing and productivity
Economic conditions influencing consumer demand and market dynamics