Bank lending to private sector to increase by 20%

Banks’ lending to private sector which has been dawdling since the Central Bank of Nigeria (CBN) commenced its reform of the banking sector is expected to show some form of improvement this year, FBN Capital, the investment arm of First Bank of Nigeria PLC, has said.
The company said in its monthly economic review and analysis that that there will be an expected growth rate of about 20 per cent in lending to the private sector by the time the year draws to a close. It also stated that activity in the oil & gas, power and agriculture sectors will experience tremendous improvement contrary to what obtained the previous year.