Nigeria Consumer Business

Nigeria · Consumer markets

What changed in Nigeria’s consumer price basket after rebasing

Nigeria’s revised consumer price basket gives food and non-alcoholic beverages a 40.0% weight, compared with 51.8% in the former framework. Restaurants and accommodation rose from 1.2% to 12.9%, partly because meals away from home moved into that division.

Sources checked

Nigeria Consumer Business Editorial Team

Consumer basket weightsFormer and rebased CPI spending weights

Former basket

Shared scale · 0% to 51.8%

  • Food and non-alcoholic beverages51.8%
  • Alcoholic beverages, tobacco and narcotics1.1%
  • Clothing and footwear7.7%
  • Housing, water, electricity, gas and other fuels16.7%
  • Furnishings and household equipment5%
  • Health3%
  • Transport6.5%
  • Information and communication0.7%
  • Recreation, sport and culture0.7%
  • Education services3.9%
  • Restaurants and accommodation1.2%
  • Insurance and financial services0%
  • Personal care and other goods and services1.7%

Switch the weight basis to see which categories have more influence on the index calculation.

Source 1

Meals away from home moved between divisions

Under the revised classification, meals eaten away from home are counted in restaurants and accommodation. The National Bureau of Statistics also places students’ accommodation expenditure in that division. Those definition changes account for part of the large shift in the published weights. Source 1

Transport and health carry larger weights

Transport went from 6.5% to 10.7%, while health moved from 3.0% to 6.1%. Housing and utilities fell from 16.7% to 8.4%. The agency notes that imputed rent is excluded under the revised structure. Source 1

The survey weights use monetary expenditure

The agency describes its weighting inputs as household expenditure surveys supplemented by administrative sources. It excludes own production and items received as gifts from the expenditure used for weights. The CPI measures price change against a basket built from those inputs. Source 1

The framework tracks more product varieties

The published comparison goes from 740 to 934 product varieties and from 12 to 13 divisions. The rebasing also replaces the 2009 price reference with 2024. An inflation rate measures changes in price levels, while these percentages describe the weights used to combine categories. Source 1

Sources

Open the data and source notes