Banks slash lending, cut N5.4trn across key sectors

🇳🇬 Vanguard Nigeria (NG) —
Banks slash lending, cut N5.4trn across key sectors

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Nigerian banks have slashed lending by N5.45 trillion across key sectors such as oil and gas, ICT, and others, reflecting structural economic challenges. Fresh loans are now being directed towards agriculture and finance sectors, influenced by forbearance withdrawal and FX stability.

…As agric, finance, others attract fresh loans lForbearance withdrawal, FX stability reshape bank lending — Experts lIt reflects structural challenges — MAN By Babajide Komolafe Deposit Money Banks (DMBs) slashed lending to oil and gas, information and communication technology (ICT) and six other key sectors of the economy by N5.45 trillion or 14.8 per cent, year-on-year (YoY), […] The post Banks slash lending, cut N5.4trn across key sectors appeared first on Vanguard News.

Politics Markets Commodities Nigerian banks lending cut oil and gas ICT economic sectors loan reduction forex stability

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