In 2023, Nigeria’s spices production stood at 1.03 million metric tons. The forecasted data for the subsequent years shows a steady growth trajectory in production volume. For 2024, the production is expected to be 1.08 million metric tons, increasing to 1.13, 1.17, 1.21, and 1.25 in 2025, 2026, 2027, and 2028 respectively.
Year-on-year variation percentages are as follows:
- 2024: 4.85%
- 2025: 4.63%
- 2026: 3.54%
- 2027: 3.42%
- 2028: 3.31%
The compound annual growth rate (CAGR) for the period 2023-2028 is approximately 3.95%.
Future trends to watch for include potential impacts from climate change on spice crop yields, advancements in agricultural technology, increased government support, and shifts in global spice demand which may further influence production levels.
