Nigerian households more pessimistic, cut big purchases Sept 2026 CBN
Nigerian households became more pessimistic about economic and family financial conditions in September 2026, according to the Central Bank of Nigeria’s Household Expectations Survey. The overall consumer sentiment index dropped to –18.7 points from –9.9 in August, with economic conditions at –21.5, family finances at –23.9 and family income at –10.5.
Households showed strong reluctance to make major purchases, recording negative sentiment for houses (‑68.2), motor vehicles (‑67.3), investments (‑50.7), consumer durables (‑49.5) and rent (‑32.0). The Buying Conditions Index for big‑ticket items stayed below the 50‑point threshold across all survey horizons. Instead, spending focused on essentials—food, transportation, education, electricity and water—as inflation perception rose; 77.2% of Nigerians now see inflation as high, up from 67.2% in August, while the NBS reported headline inflation eased marginally to 15.39% in August.
Although the CBN projects sentiment to improve gradually, turning positive at 7.1 points over the six‑month horizon, households should consider postponing non‑essential big purchases, prioritise essential spending, watch price trends and look for cheaper alternatives or ways to boost income.