Price for Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Nigeria - 2023
Contents:
- Price for Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Nigeria (FOB) - 2022
- Price for Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Nigeria (CIF) - 2022
- Exports of Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Nigeria
- Imports of Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Nigeria
Price for Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Nigeria (FOB) - 2022
In 2022, the average export price for cigars, cheroots, cigarillos and cigarettes; of tobacco or of tobacco substituteses amounted to $10 per thousand units, stabilizing at the previous year. Overall, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for cigars, cheroots, cigarillos and cigarettes; of tobacco or of tobacco substituteses increased by +23.6% against 2019 indices. The most prominent rate of growth was recorded in 2014 an increase of 32% against the previous year. Over the period under review, the average export prices reached the maximum at $15 per thousand units in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Niger ($14 per thousand units), while the average price for exports to Ghana ($5.9 per thousand units) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cameroon (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Nigeria (CIF) - 2022
In 2022, the average import price for cigars, cheroots, cigarillos and cigarettes; of tobacco or of tobacco substituteses amounted to $2.2 per thousand units, with an increase of 2.3% against the previous year. In general, the import price, however, saw a deep reduction. The most prominent rate of growth was recorded in 2013 an increase of 94%. Over the period under review, average import prices attained the maximum at $18 per thousand units in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United Arab Emirates ($2.3 per thousand units) and Vietnam ($2.3 per thousand units), while the price for China ($2 per thousand units) and South Korea ($2 per thousand units) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (+28.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Nigeria
In 2022, approx. 13B units of cigars, cheroots, cigarillos and cigarettes; of tobacco or of tobacco substituteses were exported from Nigeria; jumping by 23% on the previous year's figure. Over the period under review, total exports indicated a slight increase from 2019 to 2022: its volume increased at an average annual rate of +1.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +89.7% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 54%. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in the near future.
In value terms, exports of cigars, cheroots, cigarillos and cigarettes; of tobacco or of tobacco substituteses surged to $135M in 2022. In general, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +9.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +99.3% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 63% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the near future.
| Export of Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Niger | 21.2 | 1.1 | 38.6 | 53.9 | 36.5% |
| Cameroon | 8.9 | 7.0 | 12.8 | 17.3 | 24.8% |
| Ghana | 10.2 | 7.7 | 12.3 | 16.0 | 16.2% |
| Guinea | 7.4 | 1.9 | 7.8 | 11.0 | 14.1% |
| Burkina Faso | 2.4 | N/A | 7.4 | 10.0 | 60.9% |
| Cote d'Ivoire | 10.4 | 10.8 | 4.0 | 8.3 | -7.2% |
| Togo | 25.1 | 25.5 | 8.9 | 6.3 | -36.9% |
| Others | 17.6 | 13.9 | 18.7 | 12.3 | -11.3% |
| Total | 103 | 67.8 | 111 | 135 | 9.4% |
Top Export Markets for Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes from Nigeria in 2022:
- Niger (3.9B units)
- Ghana (2.7B units)
- Cameroon (1.4B units)
- Burkina Faso (1.3B units)
- Guinea (1.0B units)
- Cote d'Ivoire (1.0B units)
- Togo (0.8B units)
Imports of Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Nigeria
For the fourth year in a row, Nigeria recorded growth in purchases abroad of cigars, cheroots, cigarillos and cigarettes; of tobacco or of tobacco substituteses, which increased by 26% to 7.9B units in 2022. Over the period under review, imports continue to indicate significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 65% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in the near future.
In value terms, imports of cigars, cheroots, cigarillos and cigarettes; of tobacco or of tobacco substituteses surged to $17M in 2022. The total import value increased at an average annual rate of +12.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes in Nigeria (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| South Korea | 0.1 | 1.2 | 4.1 | 7.3 | 317.9% |
| Vietnam | 9.4 | 11.8 | 7.9 | 6.3 | -12.5% |
| United Arab Emirates | 0.3 | N/A | 0.5 | 1.6 | 74.7% |
| China | N/A | N/A | 0.3 | 1.4 | 366.7% |
| Others | 2.3 | 0.7 | 0.4 | 0.5 | -39.9% |
| Total | 12.0 | 13.8 | 13.2 | 17.1 | 12.5% |
Top Suppliers of Cigars, Cheroots, Cigarillos and Cigarettes; of Tobacco or of Tobacco Substitutes to Nigeria in 2022:
- South Korea (3.6B units)
- Vietnam (2.8B units)
- United Arab Emirates (0.7B units)
- China (0.7B units)
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