The Agricultural sector receives an average of 4.4% of the total credit from Deposit Money Banks (DMB) annually

Key takeaways:

  • Despite being a key contributor to employment and food security, the Agricultural sector only gets an average of 4.4% of total DMB credit.
  • The Industrial sector consistently absorbs the largest loans, accounting for 42%–46% of total credit from January to September 2024.
  • The Services sector remains a top recipient of bank credit, with shares fluctuating between 37% and 41%.
  • The Government sector receives relatively low credit levels, averaging 4.9%, suggesting reliance on alternative funding sources rather than direct bank borrowing.

Deposit Money Bank (DMB) credit allocation reveals a strong preference for the service and industrial sectors, with these two consistently receiving the largest share of total credit. Meanwhile, Agriculture remains at the lower end of funding priority, averaging just 4.4% of total credit allocation, despite its importance to Nigeria’s economy.

Source:

Central Bank of Nigeria (CBN)

Period:

2024
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Access Bank reported the highest total salaries paid among selected Nigerian banks in 2024, reaching ₦357.6B
  • Access Bank paid the highest total salaries in 2024, amounting to ₦357.6 billion.
  • Stanbic IBTC devoted the largest share of its revenue to salaries at 9.96%, despite a much lower total salary bill than Access or FirstHoldCo.
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Access Bank consistently led in gross earnings among selected Nigerian banks, reaching N4.9T in 2024, a significant jump from N2.6T in 2023
  • Access Bank led all Nigerian banks with ₦4.9T in gross earnings in 2024, nearly doubling its 2023 performance.
  • FirstHoldCo saw a sharp rise in earnings to ₦3.2T in 2024
  • Zenith Bank grew consistently, crossing the ₦4T mark in 2024 from ₦1T in 2022, showing strong operational expansion.
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Kenya led 40 African countries with 90.1% account ownership in 2024
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Gabon charges the highest air travel tax in Africa at $298, 229 times more than Libya’s $1.30 fee
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Nigerian listed banks gave ₦20.97 billion to communities in 2024; Access, Zenith, UBA lead
Key Takeaways:
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  • Access Holdings Plc led the list with ₦6.74 billion, accounting for nearly 32% of total donations.
  • The top three banks (Access, Zenith, and UBA) contributed around ₦13.6 billion, or 65% of total donations.
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  • The project in Sudan was cancelled due to the conflict in the country.

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