The alcoholic beverages import volume in Nigeria has seen significant fluctuations over the past decade. From 2014 to 2018, the volume generally declined, with notable drops in 2015 and 2018. Between 2019 and 2020, imports saw further declines attributable to external shocks, but 2021 marked a temporary recovery. The trend from 2022 showed minor fluctuations leading to a slight decline by 2023, which stood at 178.0 Thousand Metric Tons. The year-on-year variation showed a decrease of 1.66% in 2023. Over the last five years, the compound annual growth rate (CAGR) was -0.88%, indicating a steady decline.
Forecasts for the coming years predict a continued decrease in import volume, with a forecasted CAGR of -1.23% until 2028, representing a cumulative decline of about 6%. Future trends to watch for include economic recovery rates, changes in domestic production capabilities, policy shifts affecting import tariffs, and consumer demand shifts towards local alternatives.