The National Bureau of Statistics (NBS) says N62.28 trillion was the total amount of credit given to the private sector in the first quarter of 2021.
According to its report entitled: “Selected Banking Sector Data (Q1- Q4 2021), the top three credit allocations went into the oil and gas industrial sector, manufacturing sector, and the general service sector with N11.97 trillion (19.22 per cent ), N9.82trillion (15.77 per cent ), and N5.55trillion (8.92 percent).
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The report said in Q2 2021, total credit allocation increased by 5.64 per cent to N65.79trillion, with the top three allocations to the oil and gas industrial sector, manufacturing sector, and general service sector recorded at N12.34 trillion (18.75 percent ), N10.83 trillion (16.46 per cent ) and N6.24trillion (9.48 per cent).
The NBS reported that the credit allocations to the private sector in Q3 2021 increased by a total of N67.33 trillion, or 2.33 percent, over the level recorded in Q2 2021.
The largest portion of this sum, N12.32 trillion (18.29 percent), went to the oil and gas industrial sector. N11.14 trillion (16.55 percent) went to manufacturing, and N6.49 trillion went to general services (9.64 per cent ).
A credit to the private sector worth N71.71 trillion was also recorded in Q4 2021, representing an increase of 6.52 percent from Q3 2021.
The NBS report said in “Q1 2021, 1.96billion volumes of e-payment transactions were recorded through ATM, POS, Internet, NEFT, RTGS, USSD, Mobile, and Direct Channels. The volume of e-payment transactions in Q2 2021 increased by 13.11 per cent to N2.22billion, while 2.43billion was recorded in Q3 2021 showing a growth rate of 9.49 per cent .”
The NBS said, however, the volume of e-payment transactions decreased by 2.16 percent to N2.38billion in Q4 2021.
In terms of values of e-payment transactions made, according to the document, N238.87 trillion was recorded in Q1 2021 and N269.73trn in Q2 2021.
It added that in Q3 2021, the value of e-payment transactions was N269.82trillion, indicating an increase of 0.03 per cent, while N285.95 trillion was recorded in Q4 2021, showing a growth rate of 5.98 per cent.
NBS said the staff strength of deposit money banks in Q1 2021 stood at 94,681, inclusive of executive, senior, junior, and contract staff.
It further noted that in Q2 2021, this decreased to 92,780 and further decreased to 92,699 in Q3 2021.
NBS said, however, Q4 2021 recorded a staff of 93,090, indicating an increase of 0.42 per cent.
