Nigerians are actually spending more money to recharge their phones than
they spend on feeding, a recent survey by the National Bureau of
Statistics & the World Bank has indicated.

The result of the General Household Panel Survey conducted by the NBS
in collaboration with the World Bank Living Standard Measurement Study
Group indicated that each household in Nigeria spends an average of
N20,874 on recharge cards, N14,620 on food N33, 373 on house rent,
N13,860 on petrol, N7,748 and N6,660 on kerosene on a monthly basis.

Using the data as a basis to calculate for the entire country showed
that on average monthly, Nigerians spend about N449.73 billion on
recharge cards, N399.65 on food, N143.3 billion on kerosene, and N149.17
billion on house rent.

The data also showed that Nigerians hardly use mortgages facilities
to pay for their homes, but rather purchase houses directly. According
to the data, the amount spent to service mortgages was the least of the
expenditure profile of the average Nigerian family with an average of
N3.09 billon used monthly as against the monthly estimate of N149.17
billion spent on payment of house rents monthly.

According to the NBS, 5000 households were selected from the NBS’
annual general household database (cross-sectional covering the six
geo-political zones) and surveyed to generate the data released in the
GHS Panel report for 2012/2013.

Though the data above indicates average expenditure patterns by per
household in Nigeria, it was enlarged to cover the entire population in
the country.

The NBS estimates that the average Nigerian family had 5.7 people per
household. Using a population of 170 million as at year end 2013, an
estimated 29.8 million households were gotten for the entire country.

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