Based on the provided data, the forecast for millet demand in Nigeria shows a consistent year-on-year increase from 2024 to 2028. Starting at 2.25 million metric tons in 2024, demand is expected to rise to 2.45 million metric tons by 2028. In 2023, the actual demand for millet stood at 2.2 million metric tons, indicating a growing trend. When examining the year-on-year percentage variation, we see a steady annual increase of approximately 2.22%. The Compound Annual Growth Rate (CAGR) over the five-year forecast period is also projected to be around 2.22% per year.
Future trends to watch for include changes in agricultural policies, technological advancements in agriculture, climate impacts, and evolving dietary preferences which could influence demand. Close monitoring of these trends and external factors will be crucial in adjusting forecasts and strategies accordingly.
