Banks’ loans to agric sector has risen by 3.7% – CBN

Central Bank of Nigeria, CBN, says Deposit Money Bank’s credit to the agricultural sector has risen to over 3.7 per cent.

A statement from the CBN reveal that the  figure, which is for 2012, indicates an increase of 85 per cent over the two per cent growth of the agricultural sector share of banks’ credit five years ago. 

Also, data obtained recently from the Bankers Committee show that between July and November last year, the country’s lenders issued over N6 billion in credit guarantees to farmers.