Forecast: Energy Productivity in Nigeria

The energy productivity in Nigeria, expressed in US Dollars per Thousand of Total Primary Energy Supply, showed fluctuations from 2013 to 2023. The highest increase was recorded in 2015 with a year-on-year growth of 4.33%, while the most significant decline occurred in 2016 with a year-on-year decrease of 5.03%. As of 2023, the value stood at 6.36, reflecting a modest year-on-year growth of 0.36% and a CAGR of -0.98% over the past five years. Forecasts indicate a gradual increase in productivity through 2028, with an expected 5-year CAGR of 0.28%.

Future trends to watch for include:

• Potential impacts of emerging energy policies on productivity levels.
• Technological advancements in energy efficiency and renewable energy integration.
• Economic and infrastructural developments that might drive changes in energy consumption and productivity.