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Download PDFRecent data by NBS indicates an increase in bank credit to private sector. Specifically, private sector credit rose (year on year) by 24.4 percent to N16,185.1 billion in 2016Q3 relative to 2016Q2, with Oil and gas, and Manufacturing sectors taking the consecutive largest shares of the credit. The rise may be connected to the need to improve credit availability to critical sectors in order to hasten the recovery from the ongoing recession. The present rise in bank credit to the manufacturing sector seems to be a step in the right direction as the sector is critical to Nigerias industrialization and economic stability.”
