The forecasted data indicates a continuous decline in cottonseed production in Nigeria from 2024 to 2028. In 2023, the production stood at 155.98 thousand metric tons. Year-on-year variations show a consistent annual reduction: -2.24% in 2024, -2.24% in 2025, -2.25% in 2026, -2.26% in 2027, and -2.27% in 2028. The Compound Annual Growth Rate (CAGR) over this five-year period reflects an average yearly decline of -2.25%.
Future trends to watch for include potential impacts of climate change on agricultural yield, government policies on farming subsidies, technological advancements in farming methods, access to high-quality seeds, and fluctuations in global cotton prices, which could influence production levels.
