Nigerian households sharply reduced real consumption in 2024 as accelerating inflation severely weakened purchasing power, according to expenditure-side data from the Central Bank of Nigeria’s latest statistical bulletin. Provisional GDP figures show that household final consumption expenditure, measured at 2010 constant purchasers’ prices, declined from ₦45.41 trillion in 2023 to ₦31.12 trillion in 2024. This … Continue reading Nigerian Households Cut Real Spending By ₦14tn As Inflation Erodes Purchasing Power