Nigeria’s private sector credit struggles to catch up with peers

Total lending to the private sector in Nigeria hit N33 trillion ($8bn) in July 2021, a 10 percent increase compared with the same period last year.

There has been recent expansion in credit to the private sector in Africa’s largest economy but the pace of growth remains too weak to match what is obtainable in peer countries, leaving a sizable funding gap for millions of businesses. Total lending to the private sector in Nigeria hit N33 tri

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