BANKING AND FINANCE

Nigeria’s banking and finance sector is a critical driver of economic growth, providing credit facilities and financial services to individuals and businesses. The sector accounts for about 7% of GDP and has experienced significant growth in recent years. However, the sector faces challenges such as high loan default rates and regulatory compliance issues. There are opportunities for investment in areas such as digital banking, microfinance, and fintech solutions. Nigeria’s banking and finance trade value is significant, with remittances being one of the country’s top sources of foreign exchange. The competitive advantage in this sector includes a large population with a high demand for financial services, a well-developed banking infrastructure, and a supportive regulatory environment. Shared value in this sector includes financial inclusion, access to capital, and economic growth.