Business & Economy

BREAKING: Nigeria’s Household Expenditure Hits N54.84 Trillion In H1 2021

The National Bureau of Statistics (NBS) through its Expenditure and Income GDP report has revealed that Nigeria’s household expenditure has risen to N54.84 trillion in nominal terms in the first half of 2021.

Brand News Day Nigeria reports that Nigeria’s household expenditure hits N54.84 trillion representing a 13.7% increase as against N48.22 trillion reported in the previous year 2020.

This online news platform noted that this is contained in the recently released Expenditure and Income GDP report, by the National Bureau of Statistics (NBS).

Advertisement

According to the report, the expenses incurred by Nigerian households increased by 13.7% when compared with the corresponding period of 2020 However, in contrast with the second half of last year, there was a 7.45% decline compared to N59.25 trillion.

Household final expenditure consists of expenditure including imputed expenditure incurred by resident households on individual consumption goods and services.

BREAKING: Nigeria’s Household Expenditure Hits N54.84 Trillion In H1 2021

A further breakdown shows that household final consumption expenditure grew by 8.90% in Q1, and 19.08% in Q2 2021. The annual growth rate of -0.57% was recorded in 2020. This growth rate was lower by -10.42% points than the figure recorded in the previous year which stood at 9.85%.

Advertisement

READ: Dollar To Naira CBN Rate, 18 Oct 2021: Dollar To Naira Black Market Rate

Details shortly

Facebook Comments
Advertisement
Brand News Day

Recent Posts

Apple Unveils iPhone 17 Air, Slick, Slimmer Than Previous Models (PHOTOS)

Apple Inc is set to present a slimmer iPhone 17 Air model, marking a potential…

2 weeks ago

Six-Year-Old Ella Shoots, Kills American Police Officer In Mother’s Defense

A six-year-old girl, Ella, fatally shot a 28-year-old American police officer last month after witnessing…

2 weeks ago

LIRS Urges Taxpayers To Meet March 31 Deadline For Annual Tax Return Submission

The Lagos State Internal Revenue Service (LIRS) reminds all individual taxpayers, including self-employed individuals, those…

2 weeks ago

Stanbic IBTC Bank Partners Autochek To Boosts Car Ownership, Disburses N4Bn

Stanbic IBTC Bank, a prominent financial institution in Nigeria, has partnered with Autochek, an innovative…

3 weeks ago

Stanbic IBTC PMI®: Output Growth Accelerates To Fastest In Just Over One Year

The headline figure derived from the survey is the Stanbic IBTC PMI® - Purchasing Managers’…

3 weeks ago

Stanbic IBTC Bank Reintroduces Its Private Banking Offerings To Empower Nigerians Build Lasting Wealth

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings and a leading financial service solutions…

3 weeks ago

This website uses cookies.