Private Sector Credit Hits Record N94.6tn – CBN
Nigeria’s banking system is expanding at a breakneck pace that defies traditional economic logic. Credit to the private sector reached a record N94.61tn in February. Simultaneously, government borrowing climbed to N39.36tn. Usually, heavy state borrowing crowds out private companies. Today, both are feasting on bank balance sheets at the same time. This dual surge suggests…