Nigerians Prioritise Food, Shelve Investments, House Purchases - CBN Survey

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

The survey found that food remained the dominant expenditure priority in September, followed by transportation, other household goods, education, and electricity and water. The CBN said food, transport, household goods and education were also expected to remain the main spending areas over the next three to six months.

Food recorded an expenditure index of 56.1 points in September, well ahead of other household goods at 28.3 points, education at 27.6 points, electricity and water at 17.1 points, and telecommunications at 9.3 points. The food expenditure index was projected at 54.7 points over the next three months and 54.9 points over the next six months, indicating that essential consumption would remain central to household budgets.