Manufacturing businesses got N570bn loan from banks in 2020 — Apex Bank
Nigeria’s Apex Bank says manufacturing businesses in the country got a total loan of N570bn from banks in 2020 due to the economic meltdown occasioned by the dreaded COVID-19 pandemic.
Nigerian banks’ credit to the manufacturing sector rose to N3.19tn as of December 2020 from N2.62tn at the end of 2019, the Central Bank says in its sectoral analysis of banks’ credit. .
The sector received the second biggest share of the credit from the banks after the oil and gas sector, which got N5.18tn as of December 2020.
“The manufacturing sector, which is the engine of sustainable growth, is still struggling with the debilitating impact of the pandemic and is yet to recuperate,” the Director-General, Manufacturers Association of Nigeria, Mr Segun Ajayi-Kadir, had said in January.
MAN, in a January report, revealed that most manufacturers said commercial banks’ double digits lending rates were discouraging productivity in the sector.
We are an accounting software solutions company. When it comes to implementing suitable and cost effective accounting software solutions for your business, we are the EXPERT! Need an accounting software for your business? Hotline: Call or Whatsapp 0803 3857245 or 0803 239 3958
READ ALSO! Accounting software implementation: 5 key stages in a new accounting system
READ ALSO! Skytrend Consulting: Financial services and accounting solutions company
READ ALSO! SAGE 50 ACCOUNTING SOFTWARE: 8 KEY BENEFITS FOR YOUR BUSINESS
READ ALSO! SAGE 50 PEACHTREE ACCOUNTING SOFTWARE – ALL YOU NEED TO KNOW
READ ALSO! BBNaija Dorathy Launches Lingerie Line, Says Priority Is Making Busty Women Look Good
READ ALSO! How To Empower Yourself And Generate Income From Mutual Funds
READ ALSO! Why The North Remains Headquarters Of Poverty In Nigeria — Kingsley Moghalu
I have read so many articles about the blogger lovers except this piece of writing is actually a good piece of writing, keep it up.
Hello, after reading this awesome paragraph i am also cheerful to share my knowledge here with friends.
I am curious to find out what blog system you have been working with?
I’m experiencing some minor security problems with my latest blog and
I’d like to find something more safeguarded. Do you have any suggestions?
I like the helpful info you supply in your articles.
I will bookmark your blog and take a look at again here frequently.
I am somewhat sure I will learn plenty of new stuff
proper here! Best of luck for the following!
If you would like to get much from this paragraph then you have
to apply these methods to your won weblog.
It’s not my first time to pay a visit this site, i am visiting this website dailly and get pleasant data from here everyday.
Everyone loves what you guys tend to be up too. This type
of clever work and reporting! Keep up the very good works guys I’ve added you
guys to my own blogroll.
I would like to thank you for the efforts you’ve put in penning this blog.
I’m hoping to check out the same high-grade blog posts by
you later on as well. In fact, your creative writing abilities has inspired me to get my own site now 😉
We’re a gaggle of volunteers and opening a new scheme in our community.
Your site offered us with useful information to work on. You have
done an impressive job and our whole neighborhood shall
be grateful to you.
Yesterday, while I was at work, my sister stole my iPad and tested to
see if it can survive a twenty five foot drop, just so she can be a youtube sensation. My apple ipad
is now destroyed and she has 83 views. I know this is
completely off topic but I had to share it with someone!
Hi, yup this post is truly pleasant and I have learned
lot of things from it on the topic of blogging. thanks.
If you wish for to increase your familiarity simply keep visiting
this web page and be updated with the most recent news update posted here.
Woah! I’m really loving the template/theme of
this website. It’s simple, yet effective. A lot of times it’s difficult
to get that “perfect balance” between user
friendliness and appearance. I must say you have done a
superb job with this. Also, the blog loads super quick for me on Internet explorer.
Pretty section of content. I just stumbled upon your web
site and in accession capital to assert that I acquire in fact enjoyed account your blog posts.
Any way I’ll be subscribing to your augment and even I achievement you
access consistently quickly.
It’s not my first time to go to see this web site, i am visiting this website dailly and obtain pleasant
data from here everyday.
I’m amazed, I must say. Rarely do I encounter a blog that’s equally educative and amusing,
and let me tell you, you’ve hit the nail on the head.
The problem is something which not enough folks
are speaking intelligently about. Now i’m very happy I found this in my hunt for
something regarding this.