Agriculture In Nigeria: Follow The Money
Feyi Fawehinmi
13013

I must confess that I am not a data guy so wading through all those tables was a tough and ultimately abortive task. That said, I was really hoping to see some kind of comparison of total performing versus defaulting loans (both in terms of total loans granted and value of the facilities).

I believe this kind of data is very interesting because loans granted under CBN/FGN backed schemes generally have vastly reduced interest rates and longer tenors.

I’m not an expert by any means but if these loans generally perform at much higher rates (without much need to call on CBN guarantees) would that not suggest Nigerians are not as uncreditworthy as popular wisdom would have us believe and, in turn, undermine one of the arguments behind the (seemingly) extortionate interest rates charged by Nigerian banks?

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