Tags : loans

Banks’ Credit Rises 33% To N35trn

Banks’ credit to the private sector of the economy rose by 33.7 percent to N35.3 trillion in November 2021 Year-on-Year. This is an increase from N26.4 trillion in the corresponding period of 2020. Data from the Central Bank of Nigeria show that net domestic credit also rose YoY by 36 percent to N48.3 trillion in […]Read More

Nigeria Borrowed $2.02bn Loan From China In 6 Years

Under the Buhari’s administration, Nigeria has secured $2.02bn as loans from China in six years. This is according to data obtained from the Debt Management Office, which showed that Nigeria’s total debt from China as of June 30, 2015 stood at $1.38 billion.  Meanwhile, as of March 31, the country’s debt portfolio from China had […]Read More

MFBs Grew Loan To N547bn In 2020

The National Bureau of Statistics has reported that Microfinance Banks  in Nigeria recorded an 82 percent boost in lending in 2020. This is rising from N300.2 billion lending in 2019 to N546.6bn. According to NBS, microfinance loans to the private sector was N250bn in 2018, but has doubled in two years. The report attributed this […]Read More