Year-on-year analysis of demersal fish demand in Nigeria shows a consistent downward trend. In 2024, the demand is forecasted at 316.32 thousand metric tons, declining by approximately -2.47% to 308.51 thousand metric tons in 2025. This trend continues with -2.48% to 300.86 thousand metric tons in 2026, -2.49% to 293.36 thousand metric tons in 2027, and -2.50% to 286.0 thousand metric tons by 2028.
Looking at the average variation per year over the last 5 years, the compound annual growth rate (CAGR) is approximately -2.48%, indicating a steady decrease in demand.
For future trends to watch:
- Impact of overfishing and sustainability measures on supply.
- Economic factors influencing purchasing power and consumption habits.
- Policy changes or initiatives directed at improving aquaculture.
