Loans from the banking sector to the various sectors of the Nigerian economy rose to N8.03 trillion in H1’23 with the Oil and Gas, and manufacturing sectors accounting for 55.5 per cent of the loans within the period in review.
This was revealed via data from the Sectoral Distribution of Credit by Deposit Money Banks published by the Central Bank of Nigeria (CBN) in the Statistical Bulletin for the second quarter of the year, Q2’23.
The Oil and Gas sector got the largest share of N3.09 trillion representing 38.8 per cent of fresh loans in H1’23, followed by the manufacturing sector which received N1.42 trillion or 17.5 per cent.
The financial sector comprising the Finance, Insurance and Capital Market received the 3rd largest share of banks’ loans receiving N837 billion or 10.4 per cent of the new loans in H1’23.
Trade and General Commerce received N670 billion representing 8.3 per cent while the Information, Communication and Technology sector received N517 billion representing 6.4 per cent of new loans in H1’23.
General Services and Constructions received N398 billion and 348 billion respectively representing 5.0 per cent and 4.3 per cent of new loans in H1’23
https://www.ripplesnigeria.com/banks-lo ... 5-5-share/
