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BREAKING!! Nigerians To Shun Purchase Of High-Costing Items, Like Vehicles & Houses In 2021 — CBN

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BREAKING!! Nigerians To Shun Purchase Of High-Costing Items, Like Vehicles & Houses In 2021 — CBN
BREAKING!! Nigerians To Shun Purchase Of High-Costing Items, Like Vehicles & Houses In 2021 — CBN

 

Most Nigerian consumers are not likely to purchase expensive or luxury items in 2021., according to Central Bank of Nigeria (CBN) Consumer Expectations Survey (CES).

The report for December 2020 was released by the Statistics Department of the apex bank on Tuesday in Abuja.

According to the report, most consumers believed that the next one year would not be ideal for the purchase of high-costing items like vehicles and houses.

CBN said that most respondents to the survey expected the Naira to appreciate, while inflation rate would rise. Borrowing rate will also rise in the next 12 months, in the expectation of people surveyed.

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According to the report, the overall buying intention index in the next 12 months stood at 29.9 index points, indicating that most consumers do not intend to buy big-ticket items in the next 12 months.

 

 

BREAKING!! Nigerians To Shun Purchase Of High-Costing Items, Like Vehicles & Houses In 2021 — CBN




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Jake Clifford

Jake Clifford is a Nigerian Born blogger and a fast growing Journalist, whose aim is to inform Nigerians with happening across Nigeria. Send story tips to him via [email protected] or

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