Did Household Consumption Expenditure Improve During Covid-19 in Nigeria: an Overview of Pre and Post Era
Author(s)
Charles O. Manasseh , Ifeoma C. Nwakoby , Kenechukwu K. Ede ,
Download Full PDF Pages: 36-42 | Views: 488 | Downloads: 130 | DOI: 10.5281/zenodo.5179926
Abstract
This study reviews the effect of covid-19 on household consumption expenditure during pre and post covid-19 era. In order to examine if household consumption expenditure improved or not, we examined measures such as household consumption expenditure, purchasing power parity (PPP), foreign remittances, household disposable income, and household consumer confidence was assessed from 2015 to 2021 and the findings shows that covid-19 contributed to fall in Nigerian household consumption expenditure. We captured the growth in consumption in real and nominal terms, consumptions made by households, government, individual and non-profit institutions serving households (NPISH) was assessed and it was discovered that growth on consumption occurred in the aforesaid economic agents. Again, the well-being of the households examined using poverty headcounts, level of happiness, hunger index, and prosperity index and it was discovered that due to outbreak of covid-19 pandemic in Nigeria, the rate of poverty headcounts increased during and post covid-19 era was high; the level of happiness diminished and rate of hunger increased. Policies such are government improvement of agricultural sector and economic diversification was suggested since the study concludes that covid-19 pandemic have great negative impact in household consumption expenditure.
Keywords
Household Consumption, Expenditure, Covid-19
References
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