Business
‘Household Data, Imperative For Vision 20:2020 Success’
Mr Yemi Kale, the Statistician-General of the Federation, says household survey results will help the country in achieving the vision 20:2020 objective.
Kale made the statement in Abuja last Thursday at the Data Launch of the General Household Panel Survey, organised by the National Bureau of Statistics (NBS) and World Bank.
“Today’s data launch of our first wave of the General Household Panel Survey is another demonstration of the current administration to transform the country.
“It is also the administration’s resolve to inform and involve all Nigerians in the long term decisions that affect their lives regardless of age, gender and ethnic backgrounds, religions and political affiliations, academic and intellectual pursuits,” he said.
The statistician-general said the survey was imperative as it would help policy and decision making within the government and the community to improve the welfare of the households in areas of health, nutrition and education.
He said NBS in collaboration with the Ministry of Agriculture planned to conduct a National Agriculture Sample Survey that would provide evidence of the impact of past policies and interventions in the sector.
He said he was interested in the launch of Computer Assisted Personal Interview Application devices for data capture.
Kale expressed the hope that the gradual use of electronic data capture technologies in efficient ways would increase the accuracy, reliability and timeliness of data produced.
In his speech, Dr Badru Haq, the Acting Director, World Bank, said global research by the bank had shown that better access to health, education, nutrition and education of mothers supported faster economic mobility.
Haq said “the survey results being launched in Nigeria will provide specific information for the country as it reveals what economic activities help households move out of poverty.
“It also reveals how households react to government policies and programmes, how government safety nets protect people when they suffer economic shocks and how the agricultural sector contributes to household welfare.”
Haq said once the survey data was available and analysed, it would be of tremendous value to policy makers, researchers and other stakeholders to design, test and evaluate social and economic policies.
“The survey is of particular relevance now in Nigeria given its Agricultural Transformation Agenda.
“Government of Nigeria will be able to use the data to understand the key factors that serve as bottlenecks to development in the country and those policies and programmes that best increase household welfare.
“This will be critical information for policy makers for planning and programme design,” he said.
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
