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  • Business - Economy
  • Updated: May 11, 2020

Nigerian Households Spent N4.24trn On Fuel, Electricity, Telecoms, Others - NBS

 

The Nigerian Bureau of Statistics (NBS) has disclosed that in 2019, Nigerian households spent N2.02 trillion powering their homes through fuel and regular electricity. It was also revealed that Nigerian households spent N2.59 trillion on transport and N2.22 trillion on services which include telecoms.

The figures were drawn from the non-food consumption expenditure in 2019, which disclosed that fuel and electricity accounted for 11.57 per cent of the total non-food consumption expenditure last year. It also disclosed that households spent N2.46 trillion on health, while N2.43 trillion was disbursed on education.

According to the NBS report, N2.12 trillion was spent by Nigerian households on rent, while clothing accounted for N1.82 trillion, household goods cost Nigerian households N1.14 trillion, Households spent N428.22 billion on entertainment, and water gulped N192.60 billion.

NBS also opined that transport, health, education and services (which includes information technology and communication equipment, insurance and financial services), rent and fuel and electricity - which accounted for 79.40 per cent of the non-food expenditure - were the focus of the non-food items expenditure.

How much Households spend on food expenditure in 2019

It was further revealed that the total household expenditure on food and non-food for 2019 was N40.21 trillion, compared to N21.62 trillion in 2009/2010, “Of this total, 56.65 per cent (60.2 percent in 2009/10) of total household expenditure in 2019 was spent on food with the balance of about 43.35 per cent (39.8 per cent in 2009/10) spent on non-food items,” NBS explained.

NBS stated that 24.16 per cent of total household expenditure in 2019 represented foods consumed outside the home, followed by transportation costs and starchy roots, tubers and plantains. This makes it the largest proportion of household expenditure.

According to the report, in 2019, starchy roots, tubers and plantains, rice, vegetables, fish and sea food, grains and flours were the top food items consumed outside the homes that households spent on. It was reported that these items combined accounted for 59.19 per cent of food expenditure and 33.53 per cent of total household expenditure on food and 24.8 per cent of total household expenditure.

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Olalekan Fakoyejo
Olalekan Fakoyejo

Fakoyejo Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ)....

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