Micro Estimates of Nigerian Household Wealth: Evidence from Household Finance and Consumption Survey 2022Q2
64th ISI World Statistics Congress - Ottawa, Canada
Format: CPS Abstract
Session: CPS 32 - Survey statistics III
Monday 17 July 5:30 p.m. - 6:30 a.m. (Canada/Eastern)
Even though, Nigeria is rated Africa’s largest economy with a population of over 200 million people, the country is in recent times grappling with deteriorating standard of living as evidenced from some economic indicators. These indicators such as, rising inflation , high level of poverty , etc. have in many ways affected the household income, wealth, finance, and consumption patterns as well as their quality of life (a declining per capita GDP, 5.95% from 2019 and 0.58% from 2020 ). Thus, obtaining information on household wealth is among the key indicators to understanding the economic conditions of the country’s population as well as the distribution of wealth among the cohort of the population, be it gender, age group, or region etc. Therefore, the study of household wealth in Nigeria becomes imperative because of these ensuing economic conditions bedeviling the economy. This study attempts to examine at micro level, the estimates of household wealth in Nigeria using descriptive statistics from the household survey of 2022Q2. The Central Bank of Nigeria started conducting household survey from the fourth quarter of 2017.