Household consumption expenditure of Nigerians hit N13.92 trillion

The National Bureau of Statistics (NBS) has said that bousehold consumption expenditure of Nigerians rose by 16.59% in Q4 2020 to stand at N13.92 trillion
Acccording to the report, the final consumption expenditure of households in Nigeria rose to N13.92 trillion in the fourth quarter of 2020.
The information  cones from Nigerian Gross Domestic Product report of NBS
The report states thatNigeria’s household consumption rose by 16.59% in Q4 2020 to stand at N13.92 trillion, compared to N11.94 trillion recorded in the corresponding quarter of 2019. It also represents a 20.76% increase compared to N11.52 trillion recorded in the preceding quarter.
The analysis of the report shows that ohusehold consumption expenditure in Q3 and Q4 2020 grew by 6.1% and 16.59% year-on-year in real terms.
The yearly  growth rate in real household consumption expenditure is now 0.81% against a decline of 1.06% recorded in 2019.

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