The production of Non-Coniferous Industrial Roundwood in Nigeria showed consistent growth from 2013 to 2014, with a notable peak at 6.41% growth year-on-year in 2014. However, subsequent years depicted a stagnation as the production plateaued at 10.022 million cubic meters from 2015 to 2022. Notably, in 2023, the production slightly increased to 10.12 million cubic meters, marking a 0.98% rise year-on-year after several years of no growth. The expected average annual growth over the next five years is modest at 0.34%, with forecasted production reaching 10.341 million cubic meters by 2028, reflecting a 1.73% increase over this period.
Future trends to watch for:
- Technological improvements in forestry practices that could enhance productivity.
- Potential changes in domestic and international demand for roundwood.
- Environmental policies and their impact on sustainable forestry management.
- Economic factors influencing the investment in the forestry sector.
- Emerging alternatives and substitutes affecting the usage of non-coniferous roundwood.
