• Business - Economy
  • Updated: November 30, 2020

Nigerian Govt’s Consumption Rises Significantly As Households Consumption Drops

Nigerian Govt’s Consumption Rises Significantly As Househo

The Nigerian Bureau of Statistics (NBS) has disclosed that while consumption in Nigerian households dropped between April to June 2020, the consumption level of the Nigerian government rose 152.05% - this shows the disparity of living between the citizens and the government.

NBS, in its second quarter 2020 GDP by Income and Expenditure, stated that Household consumption contracted by -0.08% in Q2 2020 compared to -4.03% in Q1 2020 and 0.75% in the corresponding period of Q2 2019.

AllNews gathered from the report that Government consumption grew 152.05% in Q2 2020 compared to -6.80% in first quarter 2020 and 0.14% recorded in the corresponding period of last year's Q2.

Surprisingly, the increase in government's consumption happened at the thick of COVID-19 pandemic, at a time many poor and vulnerable households in Nigeria were struggling to survive and living on few palliatives, many of which the government allegedly hoarded in stores - palliatives were hidden and discovered after the EndSARS protest.

During the Q2 2020, the GDP by Income and Expenditure report also disclosed that Compensation of Employees contracted -6.47% in Q2 2020, compared to 6.7% in the first quarter 2020, and 10.71% during the same period last year. 

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