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Bips & Pieces

Private Sector Lending in Nigeria Rose 15% between January and November 2019, CBN Figures Show

Data from the Central Bank of Nigeria shows loans to the private sector increased by NGN3.46tn between January and November 2019.

Jan 13, 2020 // 9:40AM

Credit extended to the public sector rose by 15% during the period, from NGN22.94tn in January to 26.41tn by the end of November 2019, a possible sign that the Central Bank’s recent efforts to compel domestic banks to boost lending are starting to take effect.

Overall, domestic credit extended during the period rose by just under 24%.

Private Sector Credit Growth in Nigeria (NGN mn)

Source: Central Bank of Nigeria, Trading Economics
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