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Nigeria Suffers Drop in Consumer Confidence Index

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Consumer Confidence Index

A new report by Nielsen Africa has revealed that the Consumer Confidence Index (CCI) of Nigeria has dropped five points to 112, while that of Ghana went down by four points to 114 in the third quarter of 2019 from 118 in the previous quarter.

In a statement made available to Business Post, it was stated that these two sets of results present a fairly stable, albeit a slightly less positive picture of consumer sentiment across West Africa compared to the previous quarter.

“Nigerians are experiencing a subdued confidence level considering that inflation has started to rise again and the proposed VAT increase bill, which is making people cautious.

“Furthermore, the rising sovereign debt and the anxiety around further Naira devaluation, continued to impact consumer sentiment in Nigeria in the third quarter,” Managing Director of Nielsen for Nigeria, Mr Ged Nooy, was quoted as saying.

Looking at the consumer picture, Nigerians immediate-spending intentions has shown a large decline; with only 41 percent of consumers (versus 54 percent in the previous quarter) saying now is a good or excellent time to purchase what they want or need. Their perception around job prospects has also declined, with 55 percent viewing them as excellent or good, a five-point drop from the previous quarter.

In addition, sentiment around the state of personal finances has also shown a decline, with 76 percent Nigerians agreeing their state of personal finances will be excellent or good over the next year, a six-point drop from the previous quarter.

Looking at whether Nigerians have spare cash to spend, 47 percent said yes, versus 51 percent in the previous quarter. In terms of their spending priorities once they meet their essential living expenses, 76 percent would invest in home improvements/decorating, 72 percent would put their spare cash into savings and 62 percent say they will invest in shares/mutual funds.

Looking at the top concerns for Nigerians over the next six months, work/life balance tops the list with 28 percent, a one-point increase compared to the previous quarter. This is followed by concerns around increasing food prices at 22 percent (the same as Q2’19) and tolerance towards different religions (19 percent) superseding the economy, which is now at 16 percent, a four-point decrease compared to the previous quarter.

Elaborating on these results, Mr Nooy stated that, “Nigerian consumer sentiment dropped this quarter, however, it is still quite high compared to the cut off of 100, where anything above 100 reflects a positive consumer confidence. The key for marketers and retailers is to understand these fluctuating consumer sentiments and quickly adapt to the consumer’s needs.”

Looking at Ghana’s overall performance, Nielsen Market Lead for West Africa, Yannick Nkembe, noted that, “The initial optimism experienced at the beginning of the year is waning in Ghana owing to the concerns around the economy. Though inflation levels dropped, these have not shown a meaningful impact at the ground level and Ghanaians continue to feel the pressure. Consumers have become cautious of spending as they are not certain of future prospects.”

This more subdued outlook is reflected by Ghanaian consumers’ curtailed view of their job prospects, with a substantial 12-point decrease to 51 percent saying job prospects will be excellent or good in the next 12 months. In terms of the state of their personal finances over the next 12 months, 72 percent say they are excellent or good, down from 74 percent in the last quarter. The number of Ghanaian consumers who feel now is a good or excellent time to purchase the things they need or want, has also seen an inconsequential drop quarter on quarter, from 46 percent to 45 percent.

Looking at whether Ghanaians have spare cash, only 42 percent say yes, down a substantial 10 points from the previous quarter. Once they meet their essential living expenses, the highest number of consumers (82 percent) still say they will put their spare cash into savings, followed by 66 percent on home improvements/decorating and 59 percent who will invest in stocks and mutual funds.

When looking at the factors that are having a negative impact on Ghanaians outlook, the top concerns over the next six months are increasing food prices (26 percent) followed by work/life balance at 22 percent, the economy and tolerance towards different religions, both at 18 percent, and job security coming in fourth at 16 percent.

In light of their outlook, more than three quarters (72 percent) of Ghanaians have changed their spending to save on household expenses compared to the same time in the previous year.

The top three actions they have taken to save money are delaying the replacement of major household items (55 percent), looking for better deals on loans/insurance/credit cards (54 percent) and spending less on new clothes (53 percent).

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Ibeto Customs Command Officers Undergo Reputation Management Training

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Ibeto Customs Command

By Bon Peters

The Ibeto Seaport and Terminals Area 5 Command of the Nigeria Customs Service (NCS), Port Harcourt, Rivers State, on Friday, January 16, 2026, held a Reputation Management Cascade training for its personnel.

The seminar was aimed at strengthening ethical standards, professional conduct, and the institutional image of the service.

A statement issued by command’s spokesman, Mr Emmanuel Tangwa, a Chief Superintendent of Customs, disclosed that this was part of the service-wide driven programme to entrench integrity, accountability, and public confidence in customs operations.

The Customs Area Controller (CAC) for the command, Comptroller Usman Yahaya, described reputation as “a currency more valuable than money,” noting that “reputation like shadow follows an individual everywhere he goes.”

He said officers must consciously build their reputation with integrity and protect it with courage, as personal conduct ultimately reflects on the entire service.

Another speaker at the event, a Deputy Comptroller of Customs in charge of Revenue, Mr Jacob Onele, outlined the roles and responsibilities of leadership, senior management, public relations officers and officers at the command, zonal and field levels.

Speaking on Crisis and Reputational Risk Management, the Acting Deputy Comptroller for Administration of the command, Assistant Comptroller OE Ita, cited instances where officers’ actions negatively affected the image of the agency and explained practical steps for managing such situations to prevent reputational damage and restore public confidence.

The other speakers, including the chief examiner of the command, Assistant Comptroller MS Abdullahi; the team manager of the Customs Intelligence Unit, Deputy Comptroller HA Barka; and Deputy Comptroller BA Lawson Wadike, also aired their views on the topic of discussion, with the training providing an opportunity to a question-and-answer segment.

The participants commended the initiative and acknowledged its positive impact on their understanding of what reputation management is all about as officers noted that a single act of misconduct could stain the uniform of a thousand honest others reinforcing the lesson that reputation management begins with individual accountability.

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Discos Restore Power Supply After First National Grid Collapse of 2026

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Ikeja Electric

By Adedapo Adesanya

Gradual electricity restoration has began across the nation after the country’s national grid recorded its first collapse in 2026 on Friday.

The first collapse in 2026 on January 23 came after a similar incident on December 29, 2025, which had caused widespread power outages across the country.

The prevalent grid collapse in the country has been attributed to a combination of technical faults, inadequate maintenance of transmission lines, and fluctuations in generation capacity.

Earlier today, electricity generation dropped sharply from over 4,500 megawatts to as low as 24 megawatts as of 1:30 pm.

Checks showed that all 23 power generation plants connected to the grid reportedly lost output during the incident, resulting in zero power allocation to each of the 11 electricity distribution companies from Lagos to Kano to Abuja.

Officials of the Transmission Company of Nigeria (TCN) had yet to issue a detailed statement at the time of filing this report by 4:40 p.m.

However, a notice from Abuja Electric Distribution Company (AEDC) to customers noted that “gradual restoration of supply” has commenced.

In Lagos State, several streets in the Orelope area of Alimosho Local Government also reported power restoration.

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Google Search Shows Nigerians Prioritizing Ambition, Self-Growth in 2026

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google search Nigeria

By Aduragbemi Omiyale

A Google Search report has revealed that Nigerians are deploying the platform to make findings on how to get better in 2026 so as to navigate the year seamlessly.

Data showed that in the first two weeks of January, there has been a 40 per cent spike in searches related to self-improvement, entrepreneurial growth and “becoming better” as they search for the tools needed to succeed in every area of life.

A few of the most searches on Google by Nigerians this year have been Starting a blog, Launching a podcast, How to start a business, and Opening a YouTube channel, among others.

For example, How to start a business emerged as the top-searched how to start query this month, seeing a significant 80 per cent increase as Nigerians look to build new ventures and drive economic opportunity.

Investing in the Better Me

Personal growth is a top priority for Nigerians this year, with searches for how to be a good/better person increasing by 20 per cent. This desire for improvement extends into the heart of the home and community, with people searching for ways to be better partners, husbands, wives, and listeners.

A Healthy Start to 2026

Well-being is at the forefront of the national conversation. Nigerians are forming new habits to stay energized, with searches for how to eat healthy and healthy diet rising by 40 per cent. Mental wellness is also gaining momentum, as searches for “how to meditate” spiked by 40 per cent during the same period.

The Quest for Mastery

Whether it is professional development or personal hobbies, the quest for mastery is on. Top mind for many are searches on how to improve communication skills, memory, and even English proficiency. In the world of leisure and skill-based learning, Nigerians are looking to get better at everything from chess and running to singing and even Fortnite.

“These trends are a powerful reflection of Nigeria’s collective ambition and our shared desire to grow.

“We see Search as a cultural mirror that captures the pulse of the nation, and remain committed to ensuring our tools, from Search to Gemini, provide the relevant and helpful insights Nigerians need to navigate their daily journeys and build a more prosperous future,” the Communications and Public Affairs Manager for Google West Africa, Mr Taiwo Kola-Ogunlade, said.

The full list of Searches is below.

Top “how to be a better…” searches

Top “how to improve…” searches

1. How to be a better person

2. How to be a better lover

3. How to be a better girlfriend

4. How to be a better boyfriend

5. How to be a better husband

6. How to become a better writer

7. How to become a better singer

8. How to be a better wife

9. How to be a better kisser

10. How to be a better listener

1. How to improve English

2. How to improve memory

3. How to improve credit score

4. How to improve communication skills

5. How to improve handwriting

6. How to improve eyesight

7. How to improve posture

8. How to improve gut health

9. How to improve concentration

10. How to improve circulation

Top “how to get better at…” searches

Top “how to start…” searches

1. How to get better at Fortnite

2. How to get better at chess

3. How to get better at basketball

4. How to get better at warding League

5. How to get better at singing

6. How to get better at drawing

7. How to get better at pull ups

8. How to get better at math

9. How to get better at running

10. How to get better at soccer

1. How to start a business

2. How to start a blog

3. How to start a conversation

4. How to start a podcast

5. How to start a YouTube channel

6. How to start running

7. How to start an essay

8. How to start a speech

9. How to stop worrying and start living

10. How to start a letter

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