The Central Bank of Nigeria (CBN)’s analysis of bank’s indicated that manufacturing firms borrowed N570 billion from banks in 2020.
The analysis showed that manufacturing sector owed bank’s N3.19 trillion as of December 2020 from N2.62tn at the end of 2019.
The sector received the second highest share of the credit after the oil and gas sector, which got N5.18tn as of December.
