The Central Bank of Nigeria released its March 2025 Household Expectations Survey, reporting a decrease in consumer pessimism compared with the prior month, mainly driven by a more optimistic view of expected family income. The survey also indicates a shift towards optimism on macroeconomic conditions over the coming months. On the outlook indices, the report shows 1.2 index points for the next month, 9.3 index points for the next three months and 18.3 index points for the next six months, with confidence anticipated to rise steadily through September 2025. On prices, current-month sentiment remains negative but respondents reported that prices are slowly moderating relative to the previous month; item-level indices for the current month were highest for telecommunications (54.8), purchase of a house (51.7) and purchase of a car or vehicle (49.3), with an overall index of 36.4. Over the next three and six months, the indices rise for purchase of a house (55.4 and 58.2) and purchase of a car or vehicle (53.4 and 57.2), with an overall index of 44.1 for the next three months and 48.0 for the next six months.
Central Bank of Nigeria 2025-04-09
Central Bank of Nigeria publishes March 2025 Household Expectations Survey showing lower pessimism and moderating price perceptions
The Central Bank of Nigeria's March 2025 Household Expectations Survey indicates reduced consumer pessimism, driven by optimism in expected family income and macroeconomic conditions. Confidence indices are projected to rise steadily through September 2025. While current sentiment on prices remains negative, there is a noted moderation, with item-level indices highest for telecommunications, house purchases, and vehicle purchases.