Nigerian households are increasingly putting off purchases of houses, cars and other high-value assets as persistent inflation continues to erode purchasing power, despite signs that consumer confidence is gradually improving.
The latest June 2026 Household Expectations Survey by the Central Bank of Nigeria (CBN) shows that consumers remain focused on essential spending while avoiding discretionary and capital-intensive purchases, highlighting the lingering impact of elevated living costs on household finances.
According to the survey, households recorded negative outlook indices for the purchase of houses (-63.8), cars or motor vehicles (-62.9), investments (-43.7), household appliances and consumer durables (-42.9), and rent (-28.1) in the current month, underscoring widespread reluctance to commit income to expensive assets.
The CBN noted that while modest improvements are expected over the next six months, sentiment across these categories remains firmly negative.
The survey also found that the buying conditions for major purchases remain unfavourable. The Buying Conditions
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