The Central Bank of Nigeria released its April 2025 Household Expectations Survey, indicating pessimistic consumer sentiment, with the overall Consumer Outlook at -15.3 index points. Respondents also perceived prices to be relatively high, with a price-change sentiment reading of -22.8 index points, and the report notes that the views expressed are solely those of survey respondents. Pessimism was driven mainly by households’ assessments of their family financial situation and the broader economic condition. Expectations for the macroeconomy improved over the forecast horizon, shifting from -5.8 index points for the next month to positive readings of 2.5 over the next three months and 10.0 over the next six months (October 2025). Price perceptions remained negative for the next month (May 2025: -29.5 index points), while item-level measures pointed to the strongest pressure in housing-related costs, with index points of 56.3 for house purchases and 54.9 for rents in the current month and elevated readings over the next three and six months (house purchases: 57.7 and 58.6; rents: 57.0 and 60.3).
Central Bank of Nigeria 2025-05-09
Central Bank of Nigeria publishes April 2025 Household Expectations Survey with consumer outlook at -15.3 index points
The Central Bank of Nigeria's April 2025 Household Expectations Survey shows pessimistic consumer sentiment, with a Consumer Outlook of -15.3 and a price-change sentiment of -22.8. Despite negative perceptions of current financial situations and economic conditions, macroeconomic expectations improve, reaching 10.0 by October 2025. Housing-related costs show significant pressure, with high index points for house purchases and rents both currently and in future projections.