Top 10 sectors that got highest loans from Nigerian banks in 2023

In 2023, Nigeria’s banking sector witnessed a substantial increase in lending activities amid interest rate hikes, reflecting both the resilience of the economy and strategic efforts to support various sectors amid evolving challenges.

According to data released by the Central Bank of Nigeria (CBN), total credit extended by banks surged from $22.1 billion in December 2022 to $33.4 billion by December 2023, indicating a 51.23% rise in lending activities between the two years.

Read more at Nairametrics

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