Banks  loan manufacturers N2.23trn in Q4 2018 – Stats body

Business News

The National Bureau of Statistics (NBS), has disclosed that total credit from banks to the

manufacturing sector stood at N2.23 trillion at the end of the fourth quarter of last year.

The NBS in a report Tuesday said that a breakdown of credit to the private sector showed that oil and gas with N3.55tn received the highest credit allocation during the period under review.

This was followed by the manufacturing sector with total loans of N2.23tn.

It read in part, “In terms of credit to the private sector, the total value of credit allocated by the banks stood at N15.13tn as at Q4, 2018. “Oil and gas and manufacturing sectors got credit allocation of N3.55tn and N2.23tn to record the highest credit allocation as at the period under review.

It said the economy recorded a decline of N455 billion from N15.58 trillion as a the end of the third quarter of last year to N15.1tn in the fourth quarter.

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