Nigeria TV Info 

Nigerians Slash Household Spending by N14tn Amid Rising Inflation

Nigerian households have reduced their spending by N14 trillion as soaring inflation continues to erode purchasing power. Analysts attribute the drop to rising food, fuel, and utility costs, forcing families to prioritize essential expenses. The Central Bank of Nigeria (CBN) reported that discretionary spending, including leisure, travel, and non-essential goods, has sharply declined. Economists warn that sustained high inflation could further suppress consumer demand, slow economic growth, and impact businesses reliant on household consumption. Government officials are being urged to implement targeted interventions to cushion citizens from the worst effects of the price surge.