Private Sector Got N46tn As Loans From Banks In Eight Months - NBS
File: Wads of Naira

National Bureau of Statistics (NBS) has said the banks gave out N46.53tn as loans to the private sector between January and September 2018.

This was revealed on Friday by the NBS in its banking sector report where it noted that credit to the private sector in the first quarter stood at N15.6tn.

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It said that the figure is a fall by N26bn against N15.34tn given as credit in the first quarter of 2018.

“In terms of credit to private sector, the total value of credit allocated by the bank stood at N15.59trn as at Q3 2018,” the report read in part.

“Oil and gas and manufacturing sectors got credit allocation of N3.59tn and N2.15tn to record the highest credit allocation as at the period under review.”