Credit Condition Survey Report, CCSR, of the Central Bank of Nigeria , CBN, have revealed that in the first quarter of 2018, Nigerian banks allocated higher credits to different sectors of the economy.
The report showed that there was increase in availability of secured credit to households and corporates in Q1 2018.
The CCSR indicated that the availability of secured and unsecured credit to households was higher in Q1 2018, compared with Q4 2017 and is expected to rise further in Q2 2018.
According to the report, lenders reported that the overall spreads on secured lending rates to households relative to Monetary Policy Rate (MPR) narrowed in Q1 2018 and is expected to further narrow in Q2 2018.
Similarly, the CCSR showed that the overall availability of credit to the corporate sector increased in Q1 2018 and anticipated to increase further in Q2 2018.
The survey indicated that the changes in spreads between bank rates and MPR on approved new loan applications for all business sizes widened in Q1 2018, and is expected to widen further for all business sizes except for small businesses in Q2.
