Friday, December 12, 2025
24.7 C
Lagos

Banks Must Lend to Real Sector to Spur Growth

Godwin Emefiele
Governor
Central Bank of Nigeria

 The Nigerian economy cannot enjoy sustainable growth unless banks begin to lend to operators in the real sector.

This was the position of Dr. Uche Olowu, President/Chairman of Council, Chartered Institute of Bankers of Nigeria (CIBN) while speaking at the 2020 Economic Outlook Forum organised by the Finance Correspondents Association of Nigeria (FICAN) in Lagos.

Olowu made it clear that no economy has grown without access to capital. He added that without access to capital, there is nothing that businesses could do to move forward. He expressed optimism however that banks will move the needle on lending in 2020.

“Banks are re-strategising and focusing on niche areas. They are ready to lend to those that are creative. They are galvanizing their credit portfolio and those with creative and innovative ideas will readily have access to credit.”

He equally expressed displeasure with the borrowing culture in Nigeria which he said contributes largely to the problem of Non-Performing Loans (NPLs) in the banking sector.

“Borrowing culture in Nigeria is bad and some government policies also caused the issue of NPLs but banks need to lend to the real sector.”

spot_img
spot_img
spot_img

Hot this week

FG, SEC, NGX Group Forge Unified Direction on Capital Gains Tax Reform

The Federal Government has inaugurated the National Tax Policy...

NGX Expands Market Offerings with Introduction of Commercial Paper Listings

Nigerian Exchange Limited (NGX) has introduced Commercial Paper (CP)...

NIPR Postpones Annual PRICE Awards to Jan 25, 2026

The Nigerian Institute of Public Relations (NIPR) has deferred...

FSI Marks 6 Years of Driving Innovation, Talent Development, Startup Growth Across Africa

Financial Services Innovators (FSI) has marked its sixth anniversary,...

Sterling Bank Partners Pan Atlantic Varsity’s EDC to Certify Non-Oil Export Academy Graduates

L-R: Kola Oluyemi, Group Head, Sterling Academy; Dr. Nneka Okekearu,...

Topics

Tanzania International Forum July 12

The Tanzania International Forum For Investments is scheduled to...

Business Journal Lecture 2019 to Examine Impact of Digital Disruption

The second edition of Business Journal Annual Lecture/Awards 2019...

RedStar Expands to Benin Republic

RedStar Express Plc has expanded its operations to Benin...

Entrepreneurship: The Lonely Road to Sustainable Financial Future (2)

I honestly did not plan to pen Part 2 of this article (above) l did last week. But the response from our readers was overwhelming and many requested a follow-up. The message is very clear: Many Nigerians are eager to leave paid employment behind and plot their own destiny on their own terms. Even with all the bumps and spikes in the Nigerian business environment staked against entrepreneurs and small business owners, many still consider the Entrepreneur Route as the best route to their financial stability and future. A job is a job. A business is a business! It would be pertinent at this stage to look at key factors that would be of profound interest to existing and potential entrepreneurs.

Stanbic IBTC Pension Managers Launches FUZE Talent Hunt  

Stanbic IBTC Pension Managers Limited, a subsidiary of Stanbic...

BudgIT Uncovers N7tn Projects Inserted by NA in 2025 FG Budget

BudgIT, a civic tech organisation promoting transparency and accountability...

Digital Transformation Sets Agenda at IDC Summit

The region's most influential ICT leaders recently gathered in...

Wapic Insurance Unveils Ombudsman Desk for Better Customer Experience

Wapic Insurance Plc has unveiled an Ombudsman Desk to...
spot_img

Related Articles

Popular Categories

spot_imgspot_img