Market research

Groundnut oil and fractions market in Nigeria

$Groundnut oil and fractions market in Nigeria$

Release date: Mar 28, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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Earlier Report Observations

The Nigerian groundnut oil market grew from 368.5 thousand tonnes in 2018 to 374.8 thousand tonnes in 2019, supported by government policies that encouraged investment and streamlined business registration with the National Agency for Food and Drug Administration and Control. This regulatory framework facilitated new market entrants and boosted production capacity.

Market volume dipped to 361.2 thousand tonnes in 2020 but stabilized around 361.1 thousand tonnes in 2021. During this period, state-owned agricultural bodies in northern Nigeria maintained significant groundnut production, and government investments in processing and storage facilities strengthened the supply chain. Industrial and health-conscious consumer demand remained robust, supporting market stability.

From 2022 to 2023, the market recovered and expanded, reaching 377.3 thousand tonnes and then 388.6 thousand tonnes. This growth was underpinned by continued public investment in processing infrastructure, as highlighted by rising national groundnut output. The Federation of Agricultural Commodity Association of Nigeria played a key role in market development, while consumer preference for nutritious oils like groundnut oil sustained demand, even amid inflationary cost pressures.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2024
    3. 4.1.1.3. Exports, 2018-2024
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Nigeria
  1. 5.1.1. Annual dynamics of production in Nigeria in kind, 2018-2023, K t
  2. 5.1.2. Annual dynamics of production in Nigeria in value, 2018-2023, $ US
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, K t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, K t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Exports
1. 6.1. Exports (Direct Data)
  1. 6.1.1. Exports - Total information
  2. 6.1.2. Exports in kind, t
    1. 6.1.2.1. Annual dynamics of product's exports from Nigeria in kind, 2018-2024, t
    2. 6.1.2.2. Dynamics of product's exports in kind from Nigeria by countries, 2018-2024, t
    3. 6.1.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.1.3. Exports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's exports from Nigeria in value, 2018-2024, K $ US
    2. 6.1.3.2. Dynamics of product's exports in value from Nigeria by countries, 2018-2024, K $ US
    3. 6.1.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.1.4. Average price of product's exports, $ US/kg
    1. 6.1.4.1. Annual dynamics of average price of product's exports from Nigeria, 2018-2024, $ US/kg
    2. 6.1.4.2. Dynamics of average price of product's exports from Nigeria by countries, 2018-2024, $ US/kg
2. 6.2. Exports (Mirror Data)
  1. 6.2.1. Exports - Total information
  2. 6.2.2. Exports in kind, t
    1. 6.2.2.1. Annual dynamics of product's exports from Nigeria in kind, 2018-2024, t
    2. 6.2.2.2. Dynamics of product's exports in kind from Nigeria by countries, 2018-2024, t
    3. 6.2.2.3. Structure of product's exports in kind by countries, 2018-2024
  3. 6.2.3. Exports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's exports from Nigeria in value, 2018-2024, K $ US
    2. 6.2.3.2. Dynamics of product's exports in value from Nigeria by countries, 2018-2024, K $ US
    3. 6.2.3.3. Structure of product's exports in value by countries, 2018-2024
  4. 6.2.4. Average price of product's exports, $ US/kg
    1. 6.2.4.1. Annual dynamics of average price of product's exports from Nigeria, 2018-2024, $ US/kg
    2. 6.2.4.2. Dynamics of average price of product's exports from Nigeria by countries, 2018-2024, $ US/kg
7. Imports
1. 7.1. Imports (Direct Data)
  1. 7.1.1. Imports - Total information
  2. 7.1.2. Imports in kind, t
    1. 7.1.2.1. Annual dynamics of product's imports to Nigeria in kind, 2018-2024, t
    2. 7.1.2.2. Dynamics of product's imports in kind to Nigeria by countries, 2018-2024, t
    3. 7.1.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.1.3. Imports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's imports to Nigeria in value, 2018-2024, K $ US
    2. 7.1.3.2. Dynamics of product's imports in value to Nigeria by countries, 2018-2024, K $ US
    3. 7.1.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.1.4. Average price of product's imports, $ US/kg
    1. 7.1.4.1. Annual dynamics of average price of product's imports to Nigeria, 2018-2024, $ US/kg
    2. 7.1.4.2. Dynamics of average price of product's imports to Nigeria by countries, 2018-2024, $ US/kg
2. 7.2. Imports (Mirror Data)
  1. 7.2.1. Imports - Total information
  2. 7.2.2. Imports in kind, t
    1. 7.2.2.1. Annual dynamics of product's imports to Nigeria in kind, 2018-2024, t
    2. 7.2.2.2. Dynamics of product's imports in kind to Nigeria by countries, 2018-2024, t
    3. 7.2.2.3. Structure of product's imports in kind by countries, 2018-2024
  3. 7.2.3. Imports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's imports to Nigeria in value, 2018-2024, K $ US
    2. 7.2.3.2. Dynamics of product's imports in value to Nigeria by countries, 2018-2024, K $ US
    3. 7.2.3.3. Structure of product's imports in value by countries, 2018-2024
  4. 7.2.4. Average price of product's imports, $ US/kg
    1. 7.2.4.1. Annual dynamics of average price of product's imports to Nigeria, 2018-2024, $ US/kg
    2. 7.2.4.2. Dynamics of average price of product's imports to Nigeria by countries, 2018-2024, $ US/kg
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, t
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, t
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2024
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production groundnut oil and fractions in Nigeria

In kind, 2017-2020, K t

From 2017 to 2020, Nigeria held the third position globally in the production of groundnut oil and fractions.

Top producers of groundnut oil and fractions, 2017-2020

Source: SHEV.io

World map of production of groundnut oil and fractions, 2017-2020

Source: SHEV.io

Following two consecutive years of growth, Nigeria's production of groundnut oil and fractions experienced a decline. In 2020, the country produced 364.1 thousand tonnes, marking a slight decrease of 2.9% compared to the previous year. Over the 2017-2020 period, overall production rose by 6.5%, with an average annual growth rate of 2.1%. The peak production occurred in 2019, reaching 375.1 thousand tonnes, while the most significant year-on-year increase was recorded in 2018 at 7.7%.

Annual dynamics of production in Nigeria in kind, 2017-2020, K t

Parameter		2018	2019	2020	CAGR
1	Change from last year	7.7%	1.8%	(2.9%)	2.1%

Source: SHEV.io

Exports groundnut oil and fractions from Nigeria

Exports in kind, t

In 2020, Nigeria's exports of groundnut oil and fractions totaled 2,909 tonnes, reflecting a dramatic surge of 809.0% from the previous year.

Annual dynamics of product's exports from Nigeria in kind, 2017-2020, t

Parameter		2018	2019	2020	CAGR
1	Change from last year	n/a	n/a	809.0%	-

Source: SHEV.io

Between 2017 and 2020, China was the dominant export partner in volume terms, accounting for 100.0% of total shipments.

Structure of product's exports in kind by countries, 2017-2020

Source: SHEV.io

World map of product's exports from Nigeria in kind, 2017-2020

Source: SHEV.io

Exports in value, K $ US

In 2020, the value of Nigeria's groundnut oil and fractions exports reached 2,973 thousand US dollars, showing a sharp increase of 826.7% compared to 2019.

Annual dynamics of product's exports from Nigeria in value, 2017-2020, K $ US