Nigeria Private Consumption Expenditure

2010 - 2023 | Quarterly | USD mn | CEIC Data

Key information about Nigeria Private Consumption Expenditure

  • Nigeria Private Consumption Expenditure was reported at 44.758 USD bn in Dec 2023. This records a decrease from the previous number of 54.731 USD bn for Sep 2023.
  • Nigeria Private Consumption Expenditure data is updated quarterly, averaging 76.161 USD bn from Mar 2010 to Dec 2023, with 56 observations.
  • The data reached an all-time high of 119.809 USD bn in Dec 2014 and a record low of 44.758 USD bn in Dec 2023.
  • Nigeria Private Consumption Expenditure data remains in an active status in CEIC and is reported by CEIC Data.
  • The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Private Consumption Expenditure: USD: Quarterly.

CEIC calculates quarterly Private Consumption Expenditure as the sum of Household and NPISHs Consumption and converts it into USD. The National Bureau of Statistics provides Private Consumption Expenditure in local currency, at basic prices. The Central Bank of Nigeria average market exchange rate is used for currency conversions.

View Nigeria's Private Consumption Expenditure from Mar 2010 to Dec 2023 in the chart:

Nigeria Private Consumption Expenditure

What was Nigeria's Private Consumption Expenditure in Dec 2023?

Nigeria Private Consumption Expenditure was reported at 44.758 USD bn in Dec 2023. This records a decrease from the previous number of 54.731 USD bn for Sep 2023. See the table below for more data.

Last Previous Min Max Unit Frequency Range
44,757.800 Dec 2023 54,731.036 Sep 2023 44,757.800 Dec 2023 119,809.214 Dec 2014 USD mn quarterly Mar 2010 - Dec 2023

Private Consumption Expenditure by Country Comparison

country/region Last Frequency Range
Albania (USD mn) 4,986.058 Jun 2024 quarterly Mar 2008 - Jun 2024
Algeria (USD mn) 98,825.666 2023 yearly 1957 - 2023
Argentina (USD mn) 107,405.939 Jun 2024 quarterly Mar 1993 - Jun 2024
Armenia (USD mn) 4,336.449 Jun 2024 quarterly Dec 1994 - Jun 2024
Australia (USD mn) 227,436.303 Jun 2024 quarterly Sep 1959 - Jun 2024
Austria (USD mn) 67,805.066 Jun 2024 quarterly Mar 1988 - Jun 2024
Azerbaijan (USD mn) 10,069.647 Jun 2024 quarterly Mar 2001 - Jun 2024
Bahrain (USD mn) 16,951.449 2022 yearly 1975 - 2022
Bangladesh (USD mn) 303,536.168 2024 yearly 1981 - 2024
Belarus (USD mn) 10,094.011 Jun 2024 quarterly Mar 2000 - Jun 2024
Belgium (USD mn) 82,627.764 Jun 2024 quarterly Mar 1980 - Jun 2024
Bolivia (USD mn) 6,822.407 Jun 2024 quarterly Mar 1990 - Jun 2024
Bosnia and Herzegovina (USD mn) 4,922.681 Jun 2024 quarterly Mar 2008 - Jun 2024
Botswana (USD mn) 2,148.633 Jun 2024 quarterly Mar 2006 - Jun 2024
Brazil (USD mn) 348,481.350 Jun 2024 quarterly Mar 1996 - Jun 2024
Brunei (USD mn) 928.403 Jun 2024 quarterly Mar 2013 - Jun 2024
Bulgaria (USD mn) 15,193.052 Jun 2024 quarterly Mar 1995 - Jun 2024
Cambodia (USD mn) 24,090.182 2022 yearly 1993 - 2022
Canada (USD mn) 304,467.183 Jun 2024 quarterly Mar 1961 - Jun 2024
Chile (USD mn) 47,272.742 Jun 2024 quarterly Mar 1996 - Jun 2024
China (USD mn) 6,967,063.052 2023 yearly 1957 - 2023
Colombia (USD mn) 78,401.225 Mar 2024 quarterly Mar 2000 - Mar 2024
Croatia (USD mn) 13,126.900 Jun 2024 quarterly Mar 1995 - Jun 2024
Cyprus (USD mn) 5,254.604 Jun 2024 quarterly Mar 1995 - Jun 2024
Czech Republic (USD mn) 40,399.157 Jun 2024 quarterly Mar 1995 - Jun 2024
Denmark (USD mn) 47,508.790 Jun 2024 quarterly Mar 1990 - Jun 2024
Ecuador (USD mn) 19,199.427 Jun 2024 quarterly Mar 1991 - Jun 2024
Egypt (USD mn) 64,338.957 Jun 2024 quarterly Sep 2001 - Jun 2024
Estonia (USD mn) 5,629.986 Jun 2024 quarterly Mar 1995 - Jun 2024
European Union (USD mn) 2,533,967.281 Jun 2024 quarterly Mar 1999 - Jun 2024
Finland (USD mn) 38,120.819 Jun 2024 quarterly Mar 1990 - Jun 2024
France (USD mn) 441,115.501 Sep 2024 quarterly Mar 1957 - Sep 2024
Georgia (USD mn) 5,948.583 Jun 2024 quarterly Mar 1996 - Jun 2024
Germany (USD mn) 610,750.211 Jun 2024 quarterly Mar 1960 - Jun 2024
Ghana (USD mn) 64,338.281 2023 yearly 2006 - 2023
Greece (USD mn) 42,412.387 Jun 2024 quarterly Mar 1995 - Jun 2024
Hong Kong SAR, China (USD mn) 69,446.283 Jun 2024 quarterly Mar 1973 - Jun 2024
Hungary (USD mn) 27,956.493 Jun 2024 quarterly Mar 1995 - Jun 2024
Iceland (USD mn) 4,012.422 Jun 2024 quarterly Mar 1995 - Jun 2024
India (USD mn) 559,662.883 Jun 2024 quarterly Jun 1996 - Jun 2024
Indonesia (USD mn) 194,077.647 Sep 2024 quarterly Mar 1993 - Sep 2024
Iran (USD mn) 494,594.369 Mar 2024 quarterly Jun 1988 - Mar 2024
Ireland (USD mn) 43,571.418 Jun 2024 quarterly Mar 1995 - Jun 2024
Israel (USD mn) 62,837.082 Jun 2024 quarterly Mar 1995 - Jun 2024
Italy (USD mn) 336,418.220 Jun 2024 quarterly Mar 1995 - Jun 2024
Ivory Coast (USD mn) 51,849.173 2023 yearly 1960 - 2023
Japan (USD mn) 526,832.469 Jun 2024 quarterly Mar 1980 - Jun 2024
Jordan (USD mn) 40,150.278 2023 yearly 1962 - 2023
Kazakhstan (USD mn) 25,029.867 Jun 2024 quarterly Mar 2007 - Jun 2024
Kenya (USD mn) 86,626.716 2022 yearly 1960 - 2022
South Korea (USD mn) 224,283.704 Jun 2024 quarterly Mar 1960 - Jun 2024
Kosovo (USD mn) 2,377.699 Jun 2024 quarterly Mar 2010 - Jun 2024
Kuwait (USD mn) 59,798.150 2022 yearly 1962 - 2022
Kyrgyzstan (USD mn) 3,376.283 Sep 2023 quarterly Mar 2008 - Sep 2023
Laos (USD mn) 10,453.639 2016 yearly 2000 - 2016
Latvia (USD mn) 6,411.295 Jun 2024 quarterly Mar 1995 - Jun 2024
Lebanon (USD mn) 67,290.874 2020 yearly 1990 - 2020
Lithuania (USD mn) 11,566.940 Jun 2024 quarterly Mar 1995 - Jun 2024
Luxembourg (USD mn) 7,129.531 Jun 2024 quarterly Mar 1995 - Jun 2024
Macau SAR, China (USD mn) 3,590.425 Jun 2024 quarterly Mar 2001 - Jun 2024
North Macedonia (USD mn) 2,803.008 Jun 2024 quarterly Mar 2000 - Jun 2024
Malawi (USD mn) 6,072.721 2019 yearly 1960 - 2019
Malaysia (USD mn) 59,531.296 Jun 2024 quarterly Mar 1991 - Jun 2024
Malta (USD mn) 2,665.987 Jun 2024 quarterly Mar 1992 - Jun 2024
Mauritius (USD mn) 2,249.144 Jun 2024 quarterly Mar 1999 - Jun 2024
Mexico (USD mn) 340,926.224 Jun 2024 quarterly Mar 1993 - Jun 2024
Moldova (USD mn) 3,477.946 Jun 2024 quarterly Mar 1995 - Jun 2024
Mongolia (USD mn) 2,943.045 Jun 2024 quarterly Mar 2010 - Jun 2024
Montenegro (USD mn) 1,533.793 Jun 2024 quarterly Mar 2010 - Jun 2024
Morocco (USD mn) 20,776.427 Jun 2024 quarterly Mar 2007 - Jun 2024
Mozambique (USD mn) 16,345.184 2023 yearly 1969 - 2023
Nepal (USD mn) 35,007.033 2022 yearly 1975 - 2022
Netherlands (USD mn) 130,463.417 Jun 2024 quarterly Mar 1988 - Jun 2024
New Zealand (USD mn) 36,858.375 Jun 2024 quarterly Jun 1987 - Jun 2024
Nigeria (USD mn) 44,757.800 Dec 2023 quarterly Mar 2010 - Dec 2023
Norway (USD mn) 46,573.988 Jun 2024 quarterly Mar 1978 - Jun 2024
Oman (USD mn) 38,442.752 2022 yearly 1980 - 2022
Pakistan (USD mn) 316,255.302 2024 yearly 1960 - 2024
Palestinian Territory (USD mn) 3,065.600 Jun 2024 quarterly Mar 2011 - Jun 2024
Panama (USD mn) 37,153.342 2022 yearly 1969 - 2022
Paraguay (USD mn) 7,463.267 Jun 2024 quarterly Mar 1994 - Jun 2024
Peru (USD mn) 47,085.354 Jun 2024 quarterly Mar 1990 - Jun 2024
Philippines (USD mn) 85,850.536 Sep 2024 quarterly Mar 1981 - Sep 2024
Poland (USD mn) 129,981.853 Jun 2024 quarterly Mar 1995 - Jun 2024
Portugal (USD mn) 46,352.957 Mar 2024 quarterly Mar 1995 - Mar 2024
Qatar (USD mn) 12,296.333 Dec 2022 quarterly Mar 2013 - Dec 2022
Romania (USD mn) 60,112.678 Jun 2024 quarterly Mar 1995 - Jun 2024
Russia (USD mn) 259,971.693 Jun 2024 quarterly Mar 1993 - Jun 2024
Saudi Arabia (USD mn) 109,754.070 Jun 2024 quarterly Mar 2003 - Jun 2024
Serbia (USD mn) 14,068.310 Jun 2024 quarterly Mar 1995 - Jun 2024
Singapore (USD mn) 41,861.211 Jun 2024 quarterly Mar 1975 - Jun 2024
Slovakia (USD mn) 20,356.474 Jun 2024 quarterly Mar 1995 - Jun 2024
Slovenia (USD mn) 9,215.200 Jun 2024 quarterly Mar 1995 - Jun 2024
South Africa (USD mn) 63,849.859 Jun 2024 quarterly Mar 1960 - Jun 2024
Spain (USD mn) 245,479.807 Sep 2024 quarterly Mar 1995 - Sep 2024
Sri Lanka (USD mn) 14,886.452 Jun 2024 quarterly Mar 2010 - Jun 2024
Sudan (USD mn) 89,303.523 2023 yearly 1960 - 2023
Sweden (USD mn) 68,901.847 Jun 2024 quarterly Mar 1980 - Jun 2024
Switzerland (USD mn) 115,906.886 Jun 2024 quarterly Mar 1980 - Jun 2024
Syria (USD mn) 36,535.969 2022 yearly 1990 - 2022

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Nigeria Key Series

Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -5.7 Jun 2024 quarterly Dec 2010 - Jun 2024
Consolidated Fiscal Balance (USD mn) -3,274.101 Jun 2024 quarterly Mar 2005 - Jun 2024
National Government Debt (USD mn) 101,710.7 Dec 2023 quarterly Dec 2006 - Dec 2023
Government Debt: % of GDP (%) 49.5 Mar 2024 quarterly Dec 2010 - Mar 2024
Forecast: Government Expenditure (NGN bn) 100,505.650 2029 yearly 1990 - 2029
Forecast: Government Net Debt (NGN bn) 285,181.495 2029 yearly 1990 - 2029
Forecast: Government Revenue (NGN bn) 72,588.069 2029 yearly 1990 - 2029
Federal Govt Revenue (NGN bn) 2,305.540 Jun 2024 quarterly Mar 2005 - Jun 2024
Gross Federation Account Revenue: Oil (NGN bn) 1,733.500 Jun 2024 quarterly Mar 2005 - Jun 2024
Gross Federation Account Revenue (NGN bn) 6,285.040 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Expenditure: Recurrent (NGN bn) 6,152.970 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Expenditure (NGN bn) 6,838.960 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Balance (NGN bn) -4,533.420 Jun 2024 quarterly Mar 2005 - Jun 2024
Federal Govt Expenditure: Capital (NGN bn) 250.290 Jun 2024 quarterly Mar 2005 - Jun 2024
Government Debt: Domestic (NGN bn) 53,258.012 Dec 2023 quarterly Dec 2005 - Dec 2023
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) -1.879 2028 yearly 1991 - 2028
Trade Balance (USD mn) 2,786.0 Jun 2024 monthly Jan 2003 - Jun 2024
Total Exports (USD mn) 4,913.5 Jun 2024 monthly Jan 2003 - Jun 2024
Total Exports Growth (%) 163.7 Jun 2024 monthly Jan 2004 - Jun 2024
Aluminum: Exports (USD th) 187,832.450 2023 yearly 1995 - 2023
Exports: Medicament (USD th) 2,876.353 2022 yearly 1995 - 2022
Exports: Medicinal and Pharmaceutical Product (USD th) 480.530 2022 yearly 1995 - 2022
Total Imports (USD mn) 2,989.3 Mar 2023 monthly Jan 2003 - Mar 2023
Total Imports Growth (%) 83.0 Jun 2024 monthly Jan 2004 - Jun 2024
Imports: Medicament (USD th) 755,360.705 2022 yearly 1995 - 2022
Imports: Medicinal and Pharmaceutical Product (USD th) 508,406.689 2022 yearly 1995 - 2022
Total Exports to USA (USD mn) 658.371 Jun 2024 monthly Jan 2003 - Jun 2024
Total Imports from USA (USD mn) 177.707 Jun 2024 monthly Dec 2009 - Jun 2024
Total Exports to China (USD mn) 160.464 Jun 2024 monthly Jan 2007 - Jun 2024
Total Imports from China (USD mn) 737.510 Jun 2024 monthly Jan 2007 - Jun 2024
Exports: Crude Oil (NGN mn) 5,457,219.231 Jun 2024 monthly Jan 2003 - Jun 2024
Total Trade (NGN mn) 10,433,069.822 Jun 2024 monthly Jan 2003 - Jun 2024
Exports: Growth Rate: MoM (%) 10.446 Jun 2024 monthly Jan 2019 - Jun 2024
Imports: Growth Rate: MoM (%) -35.341 Jun 2024 monthly Jan 2019 - Jun 2024
Exports (NGN mn) 7,280,672.000 Jun 2024 monthly Jan 2003 - Jun 2024
Exports: Europe: ow UK (NGN mn) 4,761.874 Jun 2024 monthly Jan 2003 - Jun 2024
Exports: America: ow USA (NGN mn) 975,552.174 Jun 2024 monthly Jan 2003 - Jun 2024
Exports: Europe: ow Netherlands (NGN mn) 434,520.151 Jun 2024 monthly Jan 2003 - Jun 2024
Exports: Vegetable Products (NGN mn) 786,963.687 2023 yearly 2003 - 2023
Exports: Mineral Products (NGN mn) 33,075,147.443 2023 yearly 2003 - 2023
Exports: Plastic and Articles Thereof, Rubber and Articles Thereof (NGN mn) 53,170.162 2023 yearly 2003 - 2023
Imports: Europe: ow Netherlands (NGN mn) 89,695.701 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Europe: ow UK (NGN mn) 39,682.510 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Asia: ow China (NGN mn) 1,092,816.851 Jun 2024 monthly Jan 2007 - Jun 2024
Imports: America: ow USA (NGN mn) 263,320.371 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Europe: ow Germany (NGN mn) 91,725.002 Jun 2024 monthly Jan 2003 - Jun 2024
Imports (NGN mn) 3,152,397.822 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Mineral Fuels, Lubricants and Related Materials (NGN mn) 564,023.272 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Food and Live Animals (NGN mn) 464,465.517 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Manufactured Goods (NGN mn) 415,104.163 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Machinery and Transport Equipment (NGN mn) 939,658.575 Jun 2024 monthly Jan 2003 - Jun 2024
Imports: Chemicals and Chemical Products (NGN mn) 531,688.790 Jun 2024 monthly Jan 2003 - Jun 2024
Import Value Index (2015=100) 116.198 2021 yearly 1980 - 2021
Export Value Index (2015=100) 93.461 2021 yearly 1980 - 2021
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) -831.3 Jun 2024 quarterly Mar 2008 - Jun 2024
Current Account Balance (USD mn) 5,142.5 Jun 2024 quarterly Mar 2014 - Jun 2024
Current Account Balance: % of GDP (%) 11.5 Jun 2024 quarterly Mar 2014 - Jun 2024
Foreign Direct Investment (USD mn) 1,197.6 Mar 2023 quarterly Mar 2014 - Mar 2023
Foreign Direct Investment: % of GDP (%) 1.3 Jun 2024 quarterly Mar 2010 - Jun 2024
Foreign Portfolio Investment (USD mn) 4,416.719 Jun 2024 quarterly Mar 2008 - Jun 2024
Foreign Portfolio Investment: % of GDP (%) 10.0 Jun 2024 quarterly Mar 2010 - Jun 2024
Foreign Portfolio Investment: Equity Securities (USD mn) -309.3 Jun 2024 quarterly Mar 2008 - Jun 2024
Foreign Portfolio Investment: Debt Securities (USD mn) 4,726.039 Jun 2024 quarterly Mar 2008 - Jun 2024
External Debt (USD mn) 42,495.2 Dec 2023 quarterly Dec 2006 - Dec 2023
External Debt: % of GDP (%) 11.9 2023 yearly 1985 - 2023
External Debt: Short Term (USD mn) 1,005.6 2020 yearly 2008 - 2020
External Debt: Short Term: % of GDP (%) 0.2 2020 yearly 2008 - 2020
Forecast: Current Account Balance (USD bn) -5.481 2029 yearly 1980 - 2029
Net International Investment Position (USD mn) -86,263.760 2023 yearly 2005 - 2023
External Debt: Service Payments (USD mn) 194.440 Dec 2018 quarterly Mar 2008 - Dec 2018
External Debt: Government: International Capital Market (USD mn) 15,118.350 Mar 2024 quarterly Mar 2011 - Mar 2024
External Debt: Government (USD mn) 42,495.160 Dec 2023 quarterly Dec 2006 - Dec 2023
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 6.1 2019 yearly 2003 - 2019
Non-Performing Loans (USD mn) 3,315.011 Mar 2021 quarterly Mar 2007 - Mar 2021
Money Supply M1 (USD mn) 21,896.535 Aug 2024 monthly Nov 1992 - Aug 2024
Money Supply M2 (USD mn) 67,150.889 Aug 2024 monthly Nov 1992 - Aug 2024
M2 Growth (%) 63.3 Aug 2024 monthly Nov 1993 - Aug 2024
Reserve Requirement Ratio (%) 50.0 Oct 2024 monthly Nov 2005 - Oct 2024
Foreign Exchange Reserves (USD mn) 34,762.2 Jun 2024 monthly Jan 1960 - Jun 2024
Foreign Exchange Reserves: % of GDP (%) 14.124 Jun 2024 quarterly Dec 2010 - Jun 2024
Foreign Exchange Reserves: Months of Import (NA) 16.3 Jun 2024 monthly Jan 2003 - Jun 2024
Gold Reserves (USD mn) 1,599.957 Jun 2024 monthly Dec 1950 - Jun 2024
Total Deposits (USD mn) 84,213.801 Dec 2019 monthly Nov 1992 - Dec 2019
Total Deposits Growth (%) 2.6 Dec 2019 monthly Nov 1993 - Dec 2019
Domestic Credit (USD mn) 73,616.6 Sep 2024 monthly Nov 1992 - Sep 2024
Domestic Credit Growth (%) 33.3 Aug 2024 monthly Nov 1993 - Aug 2024
Private Debt: % of Nominal GDP (%) 20.83 Jun 2024 quarterly Dec 2010 - Jun 2024
Monetary Survey: Liabilities: M2: M1 (NGN mn) 34,949,935.480 Aug 2024 monthly Nov 1992 - Aug 2024
Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) 72,232,284.010 Aug 2024 monthly Nov 1992 - Aug 2024
Monetary Survey: Liabilities: M2 (NGN mn) 107,182,219.490 Aug 2024 monthly Nov 1992 - Aug 2024
Monetary Survey: Liabilities: Base Money (NGN mn) 26,891,229.280 Aug 2024 monthly Jan 1993 - Aug 2024
Monetary Survey: Liabilities: M3 (NGN mn) 35,345,802.020 Jun 2020 monthly Nov 1992 - Jun 2020
Non Performing Loans to Gross Loans (%) 4.140 Jun 2023 semiannually Dec 2003 - Jun 2023
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) 13.8 Sep 2024 monthly Jul 2015 - Sep 2024

More Indicators for Nigeria

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