Culled Proshare

Wednesday, April 13, 2016 8:25AM /NBS

NBS publishes break down of banks credits and deposits by states for 2010-2015. Total bank credits rose from N8.6tr in 2010 to N12.9tn in 2015 while total bank deposits stood at N17.1tn in 2015 from N9.9tn in 2010.

Top three states for bank credits for 2015 were Lagos (10.1tn or 78% of total bank credit), Rivers (0.65tn or 5%) and FCT (0.402tn or 3.1%). Top three states where bank deposits were held in 2015 were Lagos (N8.7tn or 50.7% of total deposits), FCT (2.3tr or 13.4%), Rivers (1.0tn or 5.8%).

Yobe State had the lowest value of bank credits issues (N4.09bn) and bank deposits (N23.3bn) in 2015.

Monitoring bank credit/deposits in each state may be used as an indicator of the level of economic activity and wellbeing of operators (households and businesses) in a particular state as it shows what residents are borrowing and amount they deposit in banks.

Click here to read full article

The post Total Banks’ Credits Rise from N8.6tr in 2010 to N12.9tr in 2015 – NBS appeared first on Investadvocate.

By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Nigeria’s inflation climbed up 12.8 percent in March (highest since July 2012), dwarfing consensus estimate of 11.8 percent, according to the National Bureau of Statistics (NBS) latest report.

Cordros in its report said this month’s Consumer price Index (CPI) exhibited similar strains to that of February, with the impact of the exchange rate pass rate through, electricity tariff increases and the lingering fuel scarcity reflected in sustained increases in the” Imported Food”,

“Utilities (Housing Water, Electricity, Gas and Other Fuel),” and “Transport” segments. On a m/m basis, headline inflation was 2.2 percent, slightly lower than the 2.3 percent recorded in the previous month,” the NBS report affirmed.

Also, food inflation increased to 12.7 percent from 11.3 percent in the previous month, driven by continued pressure in imported inflation (+15.13 percent). Core inflation increased to 12.2 percent from 11.0 percent in the previous month, after a 1.9 percent month-on-month (m/m) increase driven by increased acceleration in all segments, with the exception of hotels and restaurants which increased at a slower pace.

The post Nigeria’s Inflation Soars 12.8% in March, Highest since July 2012 appeared first on Investadvocate.

By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)- Nigeria’s inflation rose to 11.4 percent in February 2016, as the Consumer Price Index (CPI) which measures inflation recorded a significant uptick and soaring to a Three-Year High, according to the National Bureau of Statistics (NBS) latest report.

Africa’s largest oil producer’s inflation rate rose above 10 percent in February for the first time since December 2012 as the costs of food climbed up.

According to the NBS, this increase by 11.4 percent (year-on-year) in February is roughly 1.76 percent higher from rates recorded in January (9.6 percent). “The faster pace of increases which led to the overall increase in the headline index were recorded across almost all major divisions which contribute to the Headline index with the exception of the Restaurants and Hotels division which increased, albeit at a slower pace,” NBS reported.

The nation’s statistics office said after increasing at the same pace for two (2) months, the pace of increases of food prices as recorded by the Food sub-index increased at faster pace in February.

It reported the Food index increased by 11.3 percent, up by 0.71 percent from rates recorded in January. “During the month, all major food groups which contribute to the Food sub-index increased at a faster pace during the month with the exception of the Potatoes, Yams and Other Tubers; and Sugar, jam, honey, chocolate and confectionery groups,” the NBS added.

The NBS said the index increased by 11.0 percent in February, roughly 2.2 percent from rates recorded in January. “On a month-on-month basis, the Headline Index increased at a faster pace in February relative to January. The index increased by 2.3 percent, in February, roughly 1.4 percent from rates recorded in January, as all divisions that contribute to the index increased with the exception of the imported food items as well as other necessary inputs to producing key local staples such as bread continue to drive the food index higher.

The Food index increased by 11.3 percent, up by 0.71 percent from rates recorded in January. In January, both the Urban and Rural indices recorded marked increases. The Urban index rose by 12.3 percent (year-on- year) from 9.7 percent recorded the month earlier, and the Rural index increased by 10.7 percent in February from 9.5 percent in January. On a month-on-month basis, both the Urban and Rural indices increased at a faster pace, as the Urban index increased by 3.0 percent in February from 0.9 percent in January, while the Rural index increased by 1.8 percent from 0.9 percent in January, according to the NBS report.

The nation’s statistics office said the percentage change in the average composite CPI for the twelve-month period ending in February 2016 over the average of the CPI for the previous twelve-month period was 9.4 percent, higher from 9.1 percent recorded in January.

It further affirmed that the corresponding twelve-month year-on-year average percentage change for the urban index increased from 9.2 percent in January to 9.5 percent in February, while the corresponding rural index also increased from 9.0 percent in January to 9.2 percent in February.

Click here to vieww Consumer Price Index (CPI) february 2016-NBS

The post Nigeria’s Inflation Rises to 11.4% in February 2016 appeared first on Investadvocate.