Consumer loans near four-year high on rising inflation
kolaking.substack.com
Consumer loans in the last years Folake Balogun The demand for bank loans by consumers in Nigeria has risen to the highest in nearly four years as rising inflationary pressures squeezed incomes, available official data show. Consumer credit rose by 16.9 percent to N2.99 trillion in August from N2.56 trillion in the previous month, according to the latest data from the Central Bank of Nigeria (CBN). It also rose year-on-year by 23.1 percent from N2.43 trillion in August last year.
Consumer loans near four-year high on rising inflation
Consumer loans near four-year high on rising…
Consumer loans near four-year high on rising inflation
Consumer loans in the last years Folake Balogun The demand for bank loans by consumers in Nigeria has risen to the highest in nearly four years as rising inflationary pressures squeezed incomes, available official data show. Consumer credit rose by 16.9 percent to N2.99 trillion in August from N2.56 trillion in the previous month, according to the latest data from the Central Bank of Nigeria (CBN). It also rose year-on-year by 23.1 percent from N2.43 trillion in August last year.