02 April 2020 : The nonperforming loans (NPL) experienced a steep decline just like everything else by a whopping 41% from N1.79 trillion in 2018 to N1.05 trillion in 2019.

This data was given by the National Bureau of Statistics (NBS) in its Selected Banking Sector Data for the fourth quarter of 2019 (Q4’19).

The report also stated that banks’ credit to the private sector increased by 4% in 2019 from N15.13 trillion in 2018 to N17.19 trillion.

Breaking it down by sector, the credit allocated to the Oil and Gas went down by 4% from N3.55 trillion in 2018 to N3.42 trillion in 2019, while the credit allocated to the manufacturing sector shot up by 18% from N2.23 trillion in 2018 to N2.62 trillion in 2019.

The number of Banking staff has also seen a decline from 104,669 staff in 2018 to 103,610 staff in 2019, while the number of contract staff increased by 0.25% in 2019 from 45,238 staff in 2018 to 45,350 in 2019.

Reporting for EasyKobo on Thursday , 02 April 2020 in Lagos, Nigeria