Nigeria: Maize Market 2025

Maize Market Size in Nigeria

The Nigerien maize market amounted to $X in 2022, stabilizing at the previous year. Over the period under review, consumption saw a pronounced reduction. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Maize Production in Nigeria

In value terms, maize production reached $X in 2022 estimated in export price. Over the period under review, production continues to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2015 with an increase of 79% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

The average yield of maize (green) in Nigeria was estimated at X tons per ha in 2022, almost unchanged from 2021. In general, the yield, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 0.8% against the previous year. The maize yield peaked at X tons per ha in 2019; however, from 2020 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The maize harvested area in Nigeria dropped modestly to X ha in 2022, almost unchanged from 2021 figures. Over the period under review, the harvested area, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the harvested area increased by 1.4% against the previous year. The maize harvested area peaked at X ha in 2021, and then contracted in the following year.

Maize Exports

Exports from Nigeria

In 2022, overseas shipments of maize (green) decreased by -15.7% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 734%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then reduced dramatically in the following year.

In value terms, maize exports contracted notably to $X in 2022. Overall, exports, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 590% against the previous year. The exports peaked at $X in 2021, and then shrank rapidly in the following year.

Exports by Country

Belgium (X tons), the UK (X tons) and the Netherlands (X tons) were the main destinations of maize exports from Nigeria, with a combined 24% share of total exports. Niger, the United Arab Emirates, France, South Africa, Austria and Oman lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +81.5%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Belgium ($X) and the UK ($X) constituted the largest markets for maize exported from Nigeria worldwide, together comprising 29% of total exports. France, the United Arab Emirates, South Africa, Austria, Niger and Oman lagged somewhat behind, together comprising a further 10%.

France, with a CAGR of +55.8%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average maize export price amounted to $X per ton, dropping by -8.7% against the previous year. Over the period under review, the export price saw a noticeable decline. The most prominent rate of growth was recorded in 2019 when the average export price increased by 134% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+19.7%), while the prices for the other major destinations experienced more modest paces of growth.

Maize Imports

Imports into Nigeria

In 2022, imports of maize (green) into Nigeria soared to X tons, growing by 44% compared with the previous year's figure. In general, imports showed a significant expansion. The growth pace was the most rapid in 2016 when imports increased by 4,814%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, maize imports dropped markedly to $X in 2022. Overall, imports showed a significant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 4,429%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest maize supplier to Nigeria, accounting for a 22% share of total imports. Moreover, maize imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. New Zealand (X tons) ranked third in terms of total imports with a 2.7% share.

From 2015 to 2022, the average annual growth rate of volume from China amounted to +25.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+94.7% per year) and New Zealand (+86.1% per year).

In value terms, China ($X) constituted the largest supplier of maize (green) to Nigeria, comprising 10% of total imports. The second position in the ranking was held by India ($X), with a 4.1% share of total imports. It was followed by New Zealand, with a 1.1% share.

From 2015 to 2022, the average annual growth rate of value from China amounted to -4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+59.3% per year) and New Zealand (+60.8% per year).

Import Prices by Country

The average maize import price stood at $X per ton in 2022, shrinking by -42.8% against the previous year. Over the period under review, the import price showed a abrupt downturn. The growth pace was the most rapid in 2019 an increase of 30% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2015 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (-13.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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