Commodities: Nigeria

October 2023

The commodities country overview provides comprehensive data on production, consumption and price trends on key commodities markets. The commodities overview in Nigeria covers production and consumption trends in agricultural commodities, energy products, electricity, metal products as well as an overview of key economic and business environment trends.

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Overview:

The Country Briefings series examine market potential, economic and consumer trends impacting each country and how they are set to change.

Each Country Briefing covers one of these topics:

Economy, Finance and Trade: Understanding the structure, health and potential risks of an economy are important for decision-making within an existing operating environment as well as for expansion strategies. Real GDP growth, inflation and exchange rate fluctuations will directly impact consumer market potential. Import and export trade profiles help gauge how open an economy is to trade and investment, while analysis of government finances can be used to explore macroeconomic stability and susceptibility to economic shocks.

Income and Expenditure: Insights into income, wealth and expenditure of consumers are vital in helping businesses make strategic decisions with regards to which country (or even which region within a country) to enter, which consumer segment to target, which products or services to market, and at which price point. Other factors such as the size and expansion of the middle class and income inequality are also important in helping companies gauge the potential of a country market.

Households: Global shifts in gender, ageing, migration and housing are transforming the size, location,  general make-up as well as income and expenditure of households around the globe, with diverse implications for governments and companies. Households insights can help identify the decision-making processes and consumption tastes of different household groups and types within a country, and assess household appliance and digital readiness that is key for formulating market technology and internet strategies.

Business Dynamics: A stable and competitive business environment is vital to operate efficiently and attract inward investment. Businesses can assess these factors alongside challenges such as corruption, political instability and terrorism, also gain insight into business operating environment and make strategic investment decisions. Transport infrastructure, ICT readiness and labour force dynamics will also identify potential issues with a supply chain and the level of workforce skills.

Commodities: Insights on key sectors directly related to the environmental commodities of a country such as energy, water, pollution, environmental resilience, forest and biodiversity and food and agriculture help businesses to make strategic decisions in relation to environmental and commodities trends, improve brand reputation and ensure long-term operations while ultimately growing the bottom line.

The briefings cover 103 countries and identify topics of crucial interest to planners, marketers and researchers.

Commodities: Nigeria

HEADLINES

PRODUCTION OF AGRICULTURAL MATERIALS

Production and Prices of Agricultural Commodities
Chart 1 Production Indices of Agricultural Commodities in Nigeria 2017-2022
Chart 2 Total Area Harvested in Nigeria 2017-2022
Chart 3 Area Harvested by Commodity in Nigeria, Hectares, 2022
Chart 4 Price Indices of Agricultural Commodities 2017-2024
Crops and Cereals
Chart 5 Production of Selected Crops and Cereals in Nigeria and Global Prices 2017-2024
Chart 6 Production of Maize in Nigeria and Global Prices 2017-2024
Chart 7 Production of Rice in Nigeria and Global Prices 2017-2024
Chart 8 Production of Palm Oil in Nigeria and Global Prices 2017-2024
Meat and Poultry
Chart 9 Production of Meat and Poultry in Nigeria and Global Prices 2017-2024
Chart 10 Production of Beef and Veal in Nigeria and Global Prices 2017-2024
Chart 11 Production of Pig Meat in Nigeria and Global Prices 2017-2024
Chart 12 Production of Poultry in Nigeria and Global Prices 2017-2024
Milk
Chart 13 Production of Milk in Nigeria and Global Prices 2017-2024
Chart 14 Production of Milk in Nigeria and Global Prices 2017-2024
Wood
Chart 15 Production of Wood Products in Nigeria and Global Prices 2017-2024
Chart 16 Production of Roundwood in Nigeria and Global Prices 2017-2024
Chart 17 Production of Sawnwood and Sleepers in Nigeria and Global Prices 2017-2024
Paper
Chart 18 Production of Pulp and Paper Products in Nigeria 2017-2022
Chart 19 Production of Wood Pulp in Nigeria 2017-2022
Chart 20 Production of Paper and Paperboard in Nigeria 2017-2022
Textile Materials
Chart 21 Production of Cotton Lint in Nigeria and Global Prices 2017-2024
Chart 22 Production of Cotton Lint in Nigeria and Global Prices 2017-2024
Consumption
Chart 23 Demand Drivers for Agricultural Products
Chart 24 Consumption of Agricultural Products in Nigeria 2017-2022
Summary 1 Overview of Key Buyers of Agricultural Products in Nigeria 2017-2027
Production of Fossil Fuels
Chart 25 Primary Production of Fossil Fuels in Nigeria 2017-2022
Chart 26 Production of Crude Oil and Natural Gas Liquids (NGL) in Nigeria and Global Prices 2017-2024
Chart 27 Production of Natural Gas in Nigeria and Global Prices 2017-2024
Chart 28 Production of Coal, Peat and Oil Shale in Nigeria and Global Prices 2017-2024
Chart 29 Ratio of Proven Natural Gas and Oil Reserves to Production in Nigeria 2017-2023
Prices of Fossil Fuels
Chart 30 Energy Price Index 2017-2024
Chart 31 Global Crude Oil and Coal Prices 2017-2024
Chart 32 Global Natural Gas Prices 2017-2024
Consumption of Fossil Fuels
Chart 33 Demand Drivers for Crude Oil and Natural Gas
Chart 34 Consumption of Crude Oil and Natural Gas in Nigeria 2017-2022
Summary 2 Overview of Key Buyers of Crude Oil and Natural Gas in Nigeria 2017-2027
Production and Consumption of Electricity
Chart 35 Electricity Production by Source in Nigeria 2017-2022
Chart 36 Production of Electricity in Nigeria 2017-2022
Chart 37 Final Consumption of Electricity in Nigeria 2017-2022
Chart 38 Demand Drivers for Electricity
Summary 3 Overview of Key Buyers of Electricity in Nigeria 2017-2027
Steel
Chart 39 Production of Steel in Nigeria and Global Prices 2017-2024
Chart 40 Production of Crude Steel in Nigeria and Global Prices 2017-2024
Iron Ore
Chart 41 Production of Iron Ore in Nigeria and Global Prices 2017-2024
Chart 42 Production of Iron Ore in Nigeria and Global Prices 2017-2024
Non-Ferrous Metals
Chart 43 Production of Non-Ferrous Metals in Nigeria and Global Prices 2017-2024
Chart 44 Production of Lead Ore in Nigeria and Global Prices 2017-2024
Chart 45 Production of Zinc Ore in Nigeria and Global Prices 2017-2024
Chart 46 Production of Tin Ore in Nigeria and Global Prices 2017-2024
Precious Metals
Chart 47 Production of Precious Metals in Nigeria and Global Prices 2017-2024
Chart 48 Production of Gold in Nigeria and Global Prices 2017-2024
Consumption
Chart 49 Demand Drivers for Metals
Chart 50 Consumption of Metals in Nigeria 2017-2022
Summary 4 Overview of Key Buyers of Metals in Nigeria 2017-2027
Summary 5 Economic and Business Environment 2020-2025
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