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.
