In Nigeria, the production of non-coniferous sawnwood remained flat at 2.0 million cubic meters from 2013 to 2022. In 2023, production slightly increased to 2.0134 million cubic meters, marking a modest year-on-year growth of 0.67%. This represents an average annual growth rate (CAGR) of 0.13% over the last five years.
From 2024 onwards, production is forecasted to continue a steady increase, expecting to reach 2.0781 million cubic meters by 2028. This implies a five-year forecast CAGR of 0.5%, translating to a cumulative growth rate of 2.54% by 2028.
Future trends to watch for:
- Infrastructure improvements and investments may further boost production capabilities.
- Environmental regulations and sustainable practices could impact production scales and methods.
- Global market demand for non-coniferous sawnwood influencing local production strategies.