The forecasted soybean oil production in Nigeria shows a steady decline from 146.0 thousand metric tons in 2024 to 142.0 thousand metric tons in 2028. Comparing 2024 to 2023, where production was at 147.0 thousand metric tons, there is a noticeable year-on-year decrease of approximately 0.7% to 1.4% annually. The CAGR over the five-year period suggests an average annual decline of about 0.9%.
Future trends to watch for include potential shifts in agricultural policies, changes in export-import dynamics influenced by global markets, and developments in sustainable farming practices that could affect production levels. Additionally, monitoring technological innovations in farming and oil extraction processes could also impact future output.
