Consumers’ confidence index rises by 8.7 points

The consumers’ overall confidence index rose by 8.7 points to 9.7 in the fourth quarter of 2018 compared to 1.0 points in the corresponding period of 2017.

The Central Bank of Nigeria (CBN) on Friday, released Consumer Expectations Survey (CES) for Q4 2018, which was conducted during the period November 24 – December 7, 2018, covering a sample size of 1,770 households drawn from 207 Enumeration Areas (EAs) across the country, with a response rate of 99.2 percent.

The report shows that the consumers’ overall confidence outlook improved in Q4 2018, as more consumers were optimistic in their outlook.

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Respondents attributed this favourable outlook to improved family income, family financial situation and economic condition. The consumer outlooks for the next quarter and next 12 months were positive at 33.2 and 28.4 points, respectively.

The outlook could be attributed to the expected increase in net household income, the anticipated improvement in Nigeria’s economic conditions and expectations to save a bit and/or have plenty over savings in the next 12 months.

HOPE MOSES-ASHIKE

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.