Nigeria: Wire And Cable Market 2025

Wire And Cable Market Size in Nigeria

The Nigerien wire and cable market soared to $X in 2021, rising by 28% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a notable increase. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Wire And Cable Exports

Exports from Nigeria

In 2021, the amount of insulated wire and cable exported from Nigeria shrank dramatically to X tons, declining by -75.7% on the year before. Overall, exports showed a abrupt decrease. The most prominent rate of growth was recorded in 2014 with an increase of 330%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, wire and cable exports dropped rapidly to $X in 2021. In general, exports showed a deep setback. The most prominent rate of growth was recorded in 2014 with an increase of 252% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

The UK (X tons), Niger (X tons) and Cote d'Ivoire (X tons) were the main destinations of wire and cable exports from Nigeria, together accounting for 58% of total exports. The United States, India, Norway, Uganda, Benin, Ghana, Sierra Leone and China lagged somewhat behind, together comprising a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +52.6%), while the other leaders experienced more modest paces of growth.

In value terms, Norway ($X) emerged as the key foreign market for insulated wire and cable exports from Nigeria, comprising 48% of total exports. The second position in the ranking was taken by the United States ($X), with a 21% share of total exports. It was followed by Cote d'Ivoire, with a 7.2% share.

From 2012 to 2021, the average annual growth rate of value to Norway amounted to +26.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-15.1% per year) and Cote d'Ivoire (-9.5% per year).

Export Prices by Country

In 2021, the average wire and cable export price amounted to $X per ton, growing by 47% against the previous year. In general, the export price posted a measured increase. The growth pace was the most rapid in 2015 when the average export price increased by 115% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Niger ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Wire And Cable Imports

Imports into Nigeria

Wire and cable imports into Nigeria skyrocketed to X tons in 2021, jumping by 24% on 2020 figures. Overall, imports continue to indicate notable growth. The most prominent rate of growth was recorded in 2019 when imports increased by 187% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, wire and cable imports skyrocketed to $X in 2021. Over the period under review, imports recorded notable growth. The growth pace was the most rapid in 2019 when imports increased by 123%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), India (X tons) and the United Arab Emirates (X tons) were the main suppliers of wire and cable imports to Nigeria, with a combined 86% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +64.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest wire and cable suppliers to Nigeria were China ($X), the United Arab Emirates ($X) and India ($X), with a combined 77% share of total imports.

The United Arab Emirates, with a CAGR of +72.5%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average wire and cable import price stood at $X per ton in 2021, surging by 5.3% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by 23%. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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