Between the first and third quarter of this year, the banking sector in Nigeria gave out a total amount of ₦46.53 trillion as loans to the private sector.
That’s according to the recent banking sector report released by the National Bureau of Statistics on Friday.
In a breakdown of the bank loan, the report showed that credit to the private sector in the first quarter was estimated at ₦15.6tn representing a decline of N26bn when compared to the first quarter credit of ₦15.34tn.
And in the third quarter, the banking sector provided a total funding of ₦15.58tn representing an increase of ₦249bn over the second quarter figure of N15.34tn.
Meanwhile, the oil and gas and manufacturing sectors got credit allocation of ₦3.59tn and N2.15tn to record the highest credit allocation as at the third quarter.
In terms of banking transactions, the NBS in the report stated that about 5.294 billion transactions valued at ₦340.15trn were recorded in the third quarter