The meat production in Nigeria has shown an overall upward trend from 2013 through 2023, with the value standing at 1.5511 Million Metric Tons in 2023. Year-on-year variations have fluctuated, with a notable drop in 2020 due to the impacts of the global pandemic, followed by a recovery in 2021. The compounded annual growth rate (CAGR) over the last five years up to 2023 stands at 0.8%, indicating a steady, albeit slow, increase.
Future trends to watch for:
- Continued moderate growth: Forecasted CAGR from 2024 to 2028 is 0.79%, with a cumulative growth rate of 4.02%.
- Impact of climate change: Variations in weather patterns may affect meat production yields.
- Technological advancements: Increased use of technology and improved practices can boost meat production efficiency.
- Economic factors: Inflation and changes in consumer purchasing power can influence meat consumption and production levels.
- Government policies: Supportive policies and investment in agriculture can further drive growth in this sector.
