Nigerians still not sure about economic conditions

The June 2025 Household Expectations survey report from the Central Bank of Nigeria (CBN) indicated a slight rise in consumer pessimism during June 2025, with the overall index declining from -12.9 in the previous month to -13.2 index points for the month in question, reflecting an increase in pessimism among Nigerian households.

The survey highlighted a consistently negative outlook across all three primary dimensions evaluated: economic conditions (-11.6 index points), family financial situation (-22.3 index points), and family income (-5.9 index points).

Nevertheless, while pessimism persisted into July (-3.6 index points), the forecasts for September (3.8 index points) and December (12.2 index points) suggest a cautious optimism, indicating expectations of gradual improvement as the year advances.

The household perception index regarding prices showed improvement in June (-23.0 index points) compared to May 2025 (-26.7 index points), signifying a widespread belief that prices are beginning to ease; however, they still remain relatively elevated.

The report underscored the necessity for targeted interventions to stabilize the economy and restore consumer confidence, including effective management of inflation, which has significant implications for business expectations, operational costs, and employment.

Additionally, strategic support is essential for micro, small, and medium enterprises (MSMEs) to reduce production costs, improve supply chain efficiency, and ultimately alleviate inflationary pressures.