Geographical Outreach: Key Indicators Commercial Bank Branches Per 100,000 Adults for Nigeria
NGAFCBODCANUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.57
Year-over-Year Change
-43.61%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the number of commercial bank branches per 100,000 adults in Nigeria, providing insights into the geographical outreach and accessibility of the country's banking infrastructure.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The 'Geographical Outreach: Key Indicators Commercial Bank Branches Per 100,000 Adults for Nigeria' metric serves as an important indicator of financial inclusion and the banking sector's presence across the Nigerian population.
Methodology
The data is collected by the Central Bank of Nigeria and calculated as the number of commercial bank branches divided by the total adult population.
Historical Context
This trend is closely monitored by policymakers, economists, and financial institutions to assess the development and accessibility of Nigeria's banking system.
Key Facts
- Nigeria has a population of over 200 million people.
- The number of commercial bank branches per 100,000 adults in Nigeria was 5.4 in 2020.
- Financial inclusion is a key priority for the Nigerian government and central bank.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of commercial bank branches per 100,000 adults in Nigeria, providing insights into the geographical outreach and accessibility of the country's banking infrastructure.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of financial inclusion and the development of Nigeria's banking sector, which is crucial for economic growth and poverty alleviation.
Q: How is this data collected or calculated?
A: The data is collected by the Central Bank of Nigeria and calculated as the number of commercial bank branches divided by the total adult population.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and financial institutions closely monitor this trend to assess the accessibility and development of Nigeria's banking system, which is a key focus area for economic and social policies.
Q: Are there update delays or limitations?
A: The data is published regularly by the Central Bank of Nigeria, but there may be occasional delays or limitations in data collection and reporting.
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Citation
U.S. Federal Reserve, Geographical Outreach: Key Indicators Commercial Bank Branches Per 100,000 Adults for Nigeria (NGAFCBODCANUM), retrieved from FRED.