Based on the provided data, the import of gas turbine engines to Nigeria is forecasted to grow steadily from 2024 to 2028. The figures indicate a continuous year-on-year increase, with the value rising from 365.08 million USD in 2024 to 400.74 million USD in 2028. In 2023, the actual import value stood at 353.5 million USD, showing an upward trend.
The year-on-year percentage variation over the last two years has been:
- From 2023 to 2024: Approximately 3.27%
- From 2024 to 2025: Approximately 2.52%
- From 2025 to 2026: Approximately 2.40%
- From 2026 to 2027: Approximately 2.30%
- From 2027 to 2028: Approximately 2.21%
Over the past five years, the Compound Annual Growth Rate (CAGR) is around 2.54%, indicating a modest but consistent growth trajectory in the import of gas turbine engines.
Future trends to watch for include advancements in gas turbine technology, potential regulatory changes impacting imports, and the influence of global energy market dynamics on Nigeria's energy infrastructure investments. Keeping an eye on these factors will be critical for understanding future import patterns of gas turbine engines to Nigeria.
