Nigerians Spending Most On Food As Investments, Others Take Backseat

Nigerians Spending Most On Food As Investments, Others Take Backseat

Nigerian households are prioritizing food over investments and other major purchases as concerns over household finances and rising prices continue to shape spending decisions, the Central Bank of Nigeria's (CBN) September 2026 Household Expectations Survey has revealed.

Consumers’ confidence plummets in Sept as inflation concerns deepen

By Elizabeth Adegbesan Consumers’ sentiment plunged sharply in September 2026 as households grappled with intensifying price pressures. The Central Bank of Nigeria, CBN, in its latest Household Expectation Survey Report said that the overall Consumer Sentiments Index, CSI, dropped steeply to -18.7 points, down from -9.9 points in August.  The decline reflects a cautious public, increasingly squeezed by cost of living.  CBN noted that perceptions…

CBN: Nigerians suspend investments, house purchases as living costs bite harder

Nigerian households became more pessimistic about economic and family financial conditions in September 2026, while their appetite for major purchases weakened.