Tinubu demands affordable credit for businesses after bank recapitalisation

President Bola Tinubu has called on Nigerian banks to translate the recent recapitalisation exercise into affordable credit for businesses, warning that increased balance sheets would have limited economic value if productive sectors remain starved of finance. Speaking at the 19th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria in Abuja, Tinubu emphasized that a resilient banking system should not exist without businesses obtaining affordable credit, as manufacturing struggles, and millions of productive micro, small, and medium enterprises (MSMEs) remain outside the formal financial system.

He highlighted the government's efforts to expand guarantees, risk-sharing, blended finance, and credit enhancement mechanisms to reduce risks associated with lending to productive sectors, while also shifting away from government securities towards private-sector lending.

Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.