Browsing by Author "Statistical Surveys Office, Statistical Services Division, Research Department"

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    Developments in the insurance industry in Nigeria in 1991
    (Central Bank of Nigeria, Research Department., 1993-06) Statistical Surveys Office, Statistical Services Division, Research Department
    Nigeria's insurance industry expanded marginally in 1991. While some companies in the industry diversified their activities from wholly life to join life and non-life, the number of companies formerly in the life business remained unchanged. Amidst general price increases, the aggregate industry income rose although expenditures increased faster. The industry continued to show preference for investments in "miscellaneous" activities rather than comply with statutory requirements in the allocation of their resources. The year ended on a promising note with the promulgation of the much awaited Insurance Decree No. 58 in December to replace the 1976 Insurance Decree generally believed to be inadequate and obsolete. The aim of the new decree is to regulate and guide the practice of insurance business in the country.
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    Developments in the insurance industry in Nigeria in 1992
    (Central Bank of Nigeria, Research Department., 1992-12) Statistical Surveys Office, Statistical Services Division, Research Department
    The developments in the insurance industry in Nigeria in 1992 are presented in this report. Developments in the insurance industry in Nigeria in 1992 showed that the industry expanded from 107 companies in 1991 to 121 in 1992. The paid up capital, income and expenditure recorded an increase in the year under review. Similarly, both the income and expenditure profiles in the industry increased during the year under review. In all the sub-sectors of the industry, management expenses escalated. The investment pattern showed that the overall compliance with government regulations was mixed in 1992. However, as in the previous year, equity and loan investments were the major investment outlets.
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    Developments in the insurance industry in Nigeria in 1994
    (Central Bank of Nigeria, Research Department., 1996-06) Statistical Surveys Office, Statistical Services Division, Research Department
    The number of insurance companies operating in Nigeria during the review period increased to 136 with the commencement of business of eleven new entrants. While the income of all the companies increased substantially, expenditure declined. The report revealed that the growth rate income in the industry exceeded the expenditure rate, as income to expenditure ratio rose from 1.04 to 2.90 between 1993 and 1994. The assets of the insurance companies also increased by 14.2 per cent from its 1993 level, while the investment of the assets was mixed in I 994. However, the industry complied with government regulations on investment in government securities in the review period.
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    Developments in the insurance industry in Nigeria in 1996
    (Central Bank of Nigeria, Research Department., 1998-03) Statistical Surveys Office, Statistical Services Division, Research Department
    This report reviews the performance of the insurance industry in Nigeria in 1996 on the basis of the survey conducted by the Central Bank of Nigeria, which covered 134 Insurance Companies that had full calendar year operations in Nigeria. Out of this, 68 responded indicating a response rate of 50.7 per cent. The report is divided into five parts. In part 1, the structure and performance of the Nigerian Insurance Industry is reviewed. Developments in life insurance business are discussed in part II, while activities in the non-life insurance business are examined in part III. Part IV analyses the composition of the industry's assets as well as the pattern of the portfolio investments in the industry.
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    Foreign private investment in Nigeria - 1996
    (Central Bank of Nigeria, Research Department., 1998-06) Statistical Surveys Office, Statistical Services Division, Research Department
    The survey revealed that the cumulative level of foreign investment in the country was #122,600.9 million. As in the previous year, the mining and quarrying sector accounted for the largest share of foreign investment. However, its proportion declined from 47.5 per cent in 1995 to 46.3 per cent in 1996. There was no new investment in the agriculture, forestry and fisheries sector in 1996 as its aggregate investment remained stagnant. The review further showed that net inffows in both current and long-term liabilities fell drastically from their levels in the previous year. The development was attributed largely to the activities of companies of Western Europe origin (excluding the UK) in the mining and quarrying sector, which recorded no inflow through olher liabilities component of investment flow in 1996, as against substantial net inflow of N30, 067. 3 million registered in the previous year.
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    Foreign private investment in Nigeria - 1997
    (Central Bank of Nigeria, Research Department., 1999-06) Statistical Surveys Office, Statistical Services Division, Research Department
    The results of the annual private investment survey conducted by the Central Bank of Nigeria in 1997 are contained in this report. The survey covers 511 establishments that are either fully foreign owned or are in partnership with Nigerians/ Nigerian agencies or enterprises doing business in Nigeria.
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    Foreign private investment in Nigeria - 1998
    (Central Bank of Nigeria, Research Department., 2000-09-01) Statistical Surveys Office, Statistical Services Division, Research Department
    The study reviews the foreign private investment in Nigeria in 1998. It found out that the net flow of foreign private investment into the Nigerian economy increased by more than quardrupled, rising from=N5, 731.0 million in 1997 to N24,078.8 million in 1998. The liabilities to head office component of net capital inflow by companies of U. K. origin accounted for the bulk of the inflow. Central Bank of Nigeria survey revealed that the cumulative level of foreign direct investment in the country was #152, 342. 6 million. Though the shares of mining and quarrying as well as manufacturing and processing sub-sectors in cumulative foreign investment declined, they accounted for substantial proportion of investments. The debt profile of foreign investors in 1998 showed a rise in long-term liabilities while outpayments under current liabilities also increased during the period. The review further showed that cumulative paid-up capital in foreign-owned companies increased marginally during the review period, while foreign share capital decreased from 30. 6 per cent in 1997 to 30. 5 per cent. However, the share of non resident shareholders of the total foreign share capital remained at the 7. 2 per cent, the level attained in the preceding year.
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    Foreign private investment in Nigeria, 1999.
    (Central Bank of Nigeria, Research Department., 2002-03) Statistical Surveys Office, Statistical Services Division, Research Department
    The net flow of foreign investment into the Nigerian economy fell sharply to N1,779.1 million in 1999 from N24,0788.9 million in 1998. The breakdown of the net flow positions revealed that different components dropped in the review period. The survey showed that the cumulative level of foreign direct investment in the country was N155,761. 7 million, mainly through the shares of mining and quarrying as well as manufacturing and processing sub-sector. The debt profile of foreign investors in 1999 showed a rise in the long-term liabilities by 0.25 per cent, while out payments under current liabilities also increased during the review period. The review further showed that, the cumulative reserves for depreciating of fixed assets rose from N88,699.4 million in 1998 to N96,402.9 million in 1999. The share of cumulative paid-up capital in foreign-owned companies increased slightly during the review period, while foreign share capital decreased from 30.5 per cent in 1998 to 30.4.