CATEGORIES: Nigerian Property Markets

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

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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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