High prices squeeze Nigerians as household expenditure rises 12% in H1

For the past eleven months, it has been difficult for Nigerians as prices of all items have more than doubled, causing household expenditure to rise by 12 percent in the first half of the year, according to the country’s GDP expenditure and income approach report.

Nigeria’s household consumption expenditure in real terms hit N27.3 trillion in the first half of 2022 as against N24.3 trillion in the corresponding period in 2021, an indication of a 12 percent increase.

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