-
PMI Hits 56% In April 2022
According to its Purchasing Managers Index for the month, Stanbic IBTC Bank has said that the Nigerian private sector’s growth quickened in April. The PMI grew to 55.8 in April, up from 54.1 in March. The report stated that the headline PMI signaled a sharp improvement in business conditions in Nigeria’s private sector. According to…
-
Bank Loans To Private Sector Hit N36.7tn
According to data obtained from the Central Bank of Nigeria, between January and December 2021, the Nigerian banking sector’s credit to the private sector rose by N5.1tn or 16.67 percent. This was contained in the Money and Credit statistics released by the regulator showing that credit to the private sector stood at N30.6tn during the…
-
Bank Credit To Private Sector Rises In December
Credit to the private sector reached its highest level in December 2021, reaching ₦35.73 trillion from ₦30.15 trillion recorded as of December 2020. This represents a ₦5.58 trillion increase in one year. The development is attributed to a combination of the Central Bank’s policies, innovation in technology and the surge in the number of FinTechs…