The forecasted domestic consumption of wheat in Nigeria exhibits a steady year-on-year increase from 2024 to 2028, with values rising from 4.66 million metric tons in 2024 to 4.89 million metric tons in 2028. The year-on-year growth rates remain relatively stable, indicating a consistent upward trend.
The year-on-year variation in percentage showcases an average incremental growth of approximately 1.29% from 2024 to 2025, 1.06% from 2025 to 2026, 1.26% from 2026 to 2027, and 1.24% from 2027 to 2028. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) is approximately 1.21%, reflecting moderate but continuous growth in wheat demand.
In 2023, the actual domestic consumption stood at 4.66 million metric tons, highlighting the initial benchmark for the forecasted period.
Future trends to watch for include potential shifts in dietary preferences, changes in agricultural policies, and the impact of economic factors such as inflation and currency fluctuations on wheat consumption. Also, technological advancements in agriculture and supply chain improvements could influence future wheat consumption patterns.
