Forecast: Wood Fuel Production in Nigeria

The wood fuel production in Nigeria has shown a consistent growth from 2013 to 2023, increasing from 64.414 to 67.513 million cubic meters. The year-on-year variation has fluctuated slightly but maintained a steady upward trend overall. The CAGR over the past five years stands at 0.39%, indicating a gradual growth in production.

The forecasted data from 2024 to 2028 suggest a continuing trend of moderate growth, with the production volume expected to reach 68.832 million cubic meters by 2028. This reflects a forecasted 5-year CAGR of 0.31% and an overall growth rate of 1.55% over the same period.

Future trends to watch for:

• Potential impact of environmental regulations and sustainability practices on wood fuel production.
• Adoption of alternative energy sources which might affect the demand for wood fuel.
• Technological advancements in wood fuel production efficiencies.
• Economic factors impacting forestry and related industries.