Nigeria’s private sector has suffered insufficient funding following a decline in total loans granted by Nigerian banks to the sector. Lending declined by N600.60bn, from N16 trillion in the first quarter of 2017 to N15.34 trillion, in the second quarter of 2018. A report by the National Bureau of Statistics (NBS) on Selected Banking Sector Data: Sectorial Breakdown of Credit, ePayment Channels and Staff Strength (Q2 2018), recently released, revealed that credit to the private sector declined for six consecutive quarters. A breakdown of the total N63.27 trillion credit…
Share This