Real estate, construction firm’s non-performing loans hit N136.05bn

The total non-performing loans of real estate and construction firms rose by N33.31bn from N102.74bn at the end of 2018 financial period to N136.05bn as of the end of 2019, according to the latest statistics from the National Bureau of Statistics (NBS).

The non-performing loans of construction firms to the banking sector rose by N34.53bn at the end of 2018 to N86.4bn as of the end of 2019.

The figure for the real estate sector declined slightly by N1.2bn from N50.87bn in 2018 to N49.65bn as of the end of 2019.

The NBS report revealed that the total loans in construction sector stood at N723.15bn, while the figure for real estate stood at N604.97 as of the end of 2019.

The report also indicated that the total non-performing loans in the banking sector stood at N1.05tn out of a total loan of N17.56tn as of the end of 2019.

It disclosed that the gross loans in the banking sector stood at N17.56tn as of the end of December 2019, while loans with specific provisions and loans after specific provisions stood at N1.43tn and N16.13tn respectively as of the end of 2019.