Household financial situations are still dire, but appear to be less severe in the last 30 days. The proportion of clients who say their household financial situation has gotten “very much worse” or “slightly worse” since the beginning of COVID-19 continues to hold ready around 90%. However, when asked if their situation has changed in the past 30 days, 4 in 5 households say it stayed the same, or improved. This could be early indicators of recovery: while Nigerians are still struggling, their situations appear to be less dire over time.
External support from government: Fewer than 1 in 5 are receiving external support of any kind from anywhere. Of those who do receive support:
Support from friends and family is declining – from 45% in January (7% of all respondents) in round to 37% in March (6% of all respondents) – as a source of support for the most desperate.
Government support has held steady from 28% in January to 29% in March (5% of all respondents), suggesting that schemes such as the Economic Sustainability Plan might be meeting the gap.
Impact on supply by sector: 2 in 3 continue to report lack of demand, while 1 in 3 report lack of supply. We see that retail and agriculture sectors are the most affected by lack of supply, while retail, service and production are most affected by lack of demand.