Number of Bank Branches for Nigeria
DDAI02NGA643NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.45
Year-over-Year Change
-29.06%
Date Range
1/1/2004 - 1/1/2020
Summary
The Number of Bank Branches for Nigeria metric tracks the total number of commercial bank branches operating within the Nigerian economy. This measure provides insights into the accessibility and reach 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 Number of Bank Branches for Nigeria data series represents the total number of physical commercial bank branches located throughout the country. It is a key indicator of the availability and penetration of banking services, which is an important factor in financial inclusion and economic development.
Methodology
This data is collected and reported by the World Bank's World Development Indicators program.
Historical Context
Policymakers and financial analysts use this metric to assess the expansion and accessibility of the Nigerian banking system.
Key Facts
- Nigeria had over 5,600 commercial bank branches as of the latest data.
- Branch density in Nigeria is around 3 branches per 100,000 adults.
- Bank branch growth has slowed in recent years compared to the 2000s.
FAQs
Q: What does this economic trend measure?
A: The Number of Bank Branches for Nigeria metric tracks the total number of physical commercial bank branches operating within the Nigerian economy.
Q: Why is this trend relevant for users or analysts?
A: This measure provides insights into the accessibility and reach of Nigeria's banking infrastructure, which is an important factor in financial inclusion and economic development.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank's World Development Indicators program.
Q: How is this trend used in economic policy?
A: Policymakers and financial analysts use this metric to assess the expansion and accessibility of the Nigerian banking system.
Q: Are there update delays or limitations?
A: The data may have a delay of 1-2 years in reporting the latest figures for Nigeria.
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Citation
U.S. Federal Reserve, Number of Bank Branches for Nigeria (DDAI02NGA643NWDB), retrieved from FRED.