Nigerians spent over ₦22.7 trillion on food in 2019 – NBS

Must Read

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

15 Wool Braid Hairstyles You Should Try

Wool braid hairstyles have been popular for years and show no signs of slowing down. Wool braids allow you...
Nigerians spent over ₦22.7 trillion on food in 2019 - NBSNigerians spent over ₦22.7 trillion on food in 2019 - NBS

The 2019 consumption expenditure report published by the National Bureau of Statistics (NBS), revealed that non-food consumption makes up 43% of total spending. Transportation, health and education were the leading categories – each making up 6% of total expenditure.

Nigerians’ spending on food rose to N22.78 trillion in 2019, up from the N12.77 trillion recorded in 2010 when the survey was last conducted.

The states with the highest consumption levels were Lagos, Oyo and Delta. In Lagos, non-food expenditure was the highest at 62%, compared with 48% in 2010.

Transportation (10.5%), rent (8%) and telecoms (7.5%) made up the highest non-food consumption components in the megacity.

- Advertisement -

Households spent N2.59tn on transport; N2.46tn on health; N2.43tn on education; N2.22tn on services including telecoms and N2.12tn on rent.

Clothing, household goods, entertainment and water gulped N1.82tn, N1.14tn, N428.22bn and N192.60bn respectively, the report showed.

It said the total household expenditure on food and non-food for 2019 was N40.21tn, compared to N21.62tn in 2009/2010.

“Of this total, 56.65 per cent (60.2 per cent 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,” the bureau said.

Read Also:  Heineken Releases New Bottle Label Highlighting Presence in 192 countries
- Advertisement -

According to the NBS, foods consumed outside the home, followed by transportation costs and starchy roots, tubers and plantains were responsible for the largest proportion of household expenditure, representing a combined 24.16 per cent of total household expenditure in 2019.

It said various foods consumed outside the home, starchy roots, tubers and plantains, rice, vegetables, fish and seafood, grains and flours were the top food items households spent on in 2019.

They accounted for a combined 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, according to the NBS.

It said expenditure on non-food items was mostly on transport, health, education and services (which includes information technology and communication equipment, insurance and financial services), rent and fuel and light, which accounted for 79.40 per cent of the non-food expenditure.

- Advertisement -

Analysis of the report showed that food consumed outside homes, transport fares, starchy roots, tubers and plantains were responsible for the largest proportion of household expenditures, representing a combined 24.16 per cent of total household expenditure in 2019.

Read Also:  P&G launches reusable packaging, joins new e-commerce site

The state-by-state analysis showed that Lagos accounted for the largest share of the consumption expenditure at N5.07 trillion.

- Advertisement -
Nigerians spent over ₦22.7 trillion on food in 2019 - NBSNigerians spent over ₦22.7 trillion on food in 2019 - NBS

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Nigerians spent over ₦22.7 trillion on food in 2019 - NBSNigerians spent over ₦22.7 trillion on food in 2019 - NBS

Latest News

Nike Releases New Film “For Once, Don’t Do It” in a message about racism in America

In a bold move, Nike opens the tough conversation that so many corporations turn blind eyes, deaf ears and...

MPC Maintains Accommodative Stance…Cuts MPR to 12.50%

In a shocking turn of events, the Monetary Policy Committee (MPC) cut its key policy rate MPR by 100bps to 12.50%, having maintained the...

History Of Coca-Cola Advertising Slogans

Red, White & You (1986) Throughout the years, the slogans used in advertising for Coca-Cola have reflected not only the brand but the times. Slogans...

Dangote Cement Plc – Resilient Q1 2020 results amid early impacts of COVID-19

Dangote Cement Plc grew revenue YoY by 4% in its Q1 2020 result. Gross profit rose YoY by 3% on account of faster growth...

Q1’2020 GDP Growth Slows – Underlying economic weaknesses reflect in GDP performance

The Nigerian economy grew by 1.87% on a year-on-year (YoY) basis in Q1’20. The GDP performance represented a 23 basis points decline from the...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Nigerians spent over ₦22.7 trillion on food in 2019 - NBSNigerians spent over ₦22.7 trillion on food in 2019 - NBS