Industry Review – Banking Sector Loans
Data from the National Bureau of Statistics revealed that loans from banks in nigeria to the private sector dropped by 2.9% QoQ in quarter 4, 2018.
Although sectors like Agricultural, Mining & Quarrying, Manufacturing, Construction and Finance & Capital Market had little growth in bank loans but significant drop in credit facilities to Oil & Gas, Power & Energy, Real Estate, Information & Communication and Transportation Sectors accounted for the drops in total bank credit to the private sector.
Below is the graphical illustration of the Bank Loans to various sectors of the economy in quarter 4, 2018 (m).
Banking Sector loans to private sector.