Data: Real Estate & Construction Accounted for 9.07% of Banking Sector Credit in Q2 ’17 – Real Estate Market Data and Research for Nigeria and other African Countries | estate intel

Data: Real Estate & Construction Accounted for 9.07% of Banking Sector Credit in Q2 ’17

Ongoing construction in Victoria Island, Lagos.

Ongoing construction in Victoria Island, Lagos.

Newly published data from the Nigerian Bureau of Statistics illustrates that the Real Estate and Construction sectors accounted for 9.07% of banking sector credit in Q2:2017.

Of the N15.7tr extended by the banks during Q2:2017, ₦795bn (5.06%) was for the real estate sector while ₦631m (4.01%) was for the the construction sector. Quarter on Quarter growth rates for the all banking sector credit has been contracting since Q4:2016 as the effects of the recession continue to take its toll on the economy.

Data: Real Estate & Construction Accounts for 9.07% of Banking Sector Credit

Data: Real Estate & Construction Accounts for 9.07% of Banking Sector Credit

 

 

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