Banking sector contributes N168.4tr to GDP.

Nigeria’s banking industry has contributed N168.4 trillion to the country’s Gross Domestic Product (GDP) between 2017 and 2020.

This disclosure was made yesterday by Vice President Prof. Yemi Osinbajo in Abuja during the official commissioning ceremony of the Chartered Institute of Bankers of Nigeria, Bankers House Abuja and the Alliance of African Institute of Bankers (AAIOB) Permanent Secretariat.

Osinbajo noted that the banking industry has exhibited resilience and growth in the face of severe challenges.
According to him, “despite several years of some of the most severe macroeconomic challenges, including the 2008 financial crisis, the oil crises that followed, and an unexpected pandemic, the Nigerian banking industry, owing largely to your outstanding professionalism, has continued to show incredible resilience and growth”.


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