July 4, 2016
CSEA Annual Report
Recently released survey report by the CBN shows an improvement in the availability of secured and unsecured banks credit and loans to households, corporate and small businesses in 2017Q3, and an optimistic outlook in 2017Q4. Among other indices, availability of overall secured and unsecured lending to households improved from -6.2 and -19.2 to -0.9 and -15.0 index points respectively; although still in the negative territory. Index for availability of credit to small businesses improved from -20.1 to -6.7. Lenders and respondents noted that anticipation of a brighter economic outlook, favorable liquidity positions, market share objectives and higher appetite for risk were major factors behind the increase.
On a Month-on-Month basis, average growth rate of selected food prices decreased in October 2017. Precisely, contracting by 1.24 percent in October, average growth rate fell from 0.08 percent recorded in September 2017. Notably, the contraction reflected in the food sub-index of the headline inflation for October 2017. The marginal decrease in the prices of selected food items may be in line with seasonal levels, as the harvest season reaches its peak, thus making food items relatively available at various demand levels. Going forward, investment towards the provision of better farming inputs, technology, financing, and value addition across the agricultural value chain could help improve yield output and food security all through the year.