Forecast: Oil Crops Production in Nigeria

In 2023, Nigeria's oil crops production stood at 18.082 million metric tons. The forecasted data predicts a steady increase in production through 2028, indicating a year-on-year variation of roughly 1.53% between 2024 and 2025, 1.46% between 2025 and 2026, 1.41% between 2026 and 2027, and 1.36% between 2027 and 2028. The compound annual growth rate (CAGR) over the next five years is expected to be approximately 1.43%, demonstrating a consistent upward trend.

Future trends to watch for include:

  • Impact of climate change on crop yields and production levels.
  • Technological advancements in agriculture that could further enhance productivity.
  • Government policies and investments in the agricultural sector.
  • Global market demand and price fluctuations of oil crops.

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