Nigeria: Groundnuts Market 2025

Groundnuts Market Size in Nigeria

After two years of growth, the Nigerien groundnuts market decreased by -40.8% to $X in 2022. In general, consumption recorded a deep slump. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Groundnuts Production in Nigeria

In value terms, groundnuts production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2014 with an increase of 73%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

In 2022, the average groundnuts yield in Nigeria reached X tons per ha, approximately mirroring 2021. Overall, the yield, however, saw a slight descent. The pace of growth appeared the most rapid in 2014 with an increase of 34% against the previous year. Over the period under review, the average groundnuts yield attained the peak level at X tons per ha in 2016; however, from 2017 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The groundnuts harvested area in Nigeria reduced slightly to X ha in 2022, which is down by -1.8% against the previous year. Over the period under review, the total harvested area indicated a tangible increase from 2012 to 2022: its figure increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, groundnuts harvested area increased by +57.7% against 2012 indices. The pace of growth appeared the most rapid in 2016 when the harvested area increased by 23%. Over the period under review, the harvested area dedicated to groundnuts production reached the peak figure at X ha in 2021, and then contracted in the following year.

Groundnuts Exports

Exports from Nigeria

In 2022, overseas shipments of ground-nut (in-shell) increased by 103% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports saw resilient growth. The most prominent rate of growth was recorded in 2018 when exports increased by 353%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, groundnuts exports soared to $X in 2022. Overall, exports, however, saw a pronounced downturn. The pace of growth was the most pronounced in 2017 with an increase of 620% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Niger (X tons) was the main destination for groundnuts exports from Nigeria, with a 71% share of total exports. Moreover, groundnuts exports to Niger exceeded the volume sent to the second major destination, the UK (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to Niger totaled +4.7%.

In value terms, the UK ($X) remains the key foreign market for ground-nut (in-shell) exports from Nigeria, comprising 72% of total exports. The second position in the ranking was held by Niger ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the UK totaled +13.1%.

Export Prices by Country

In 2022, the average groundnuts export price amounted to $X per ton, which is down by -40.2% against the previous year. Over the period under review, the export price showed a abrupt decline. The most prominent rate of growth was recorded in 2017 an increase of 153% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Niger stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Niger (-16.9%), while the prices for the other major destinations experienced a decline.

Groundnuts Imports

Imports into Nigeria

For the fourth consecutive year, Nigeria recorded growth in purchases abroad of ground-nut (in-shell), which increased by 19% to X tons in 2022. In general, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 287%. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, groundnuts imports expanded notably to $X in 2022. Over the period under review, imports continue to indicate a significant increase. The pace of growth was the most pronounced in 2017 with an increase of 214%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Niger (X tons) was the main supplier of groundnuts to Nigeria, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Niger totaled +80.7%.

In value terms, Niger ($X) constituted the largest supplier of ground-nut (in-shell) to Nigeria.

From 2012 to 2022, the average annual rate of growth in terms of value from Niger totaled +64.8%.

Import Prices by Country

The average groundnuts import price stood at $X per ton in 2022, falling by -3.7% against the previous year. Overall, the import price showed a drastic downturn. The most prominent rate of growth was recorded in 2013 an increase of 26%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Niger.

From 2012 to 2022, the rate of growth in terms of prices for Niger amounted to -8.8% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :