National Wire About Nigerians, Nigerian Business and Other Stories
Despite the economic stagnation that impacted negatively to businesses across sectors in the country, leasing firms braved the odds and generated N1.26 trillion in 2016, findings showed that the industry recorded 14 per cent growth in outstanding lease volume from N1.1 trillion in 2015.
Consequently, experts believe the Nigerian leasing industry has remained vibrant and continued to provide succour to many organisations across all sectors of the economy, despite the current economic realities.
Stakeholders believe leasing is still attractive to new investors with massive diversification by existing players in the industry.
Sector analysis of transactions during the period, revealed that the oil and gas, with its present challenges still out-played other sectors with the lead of N398 billion, or 24 per cent of the total portfolio, while transportation followed with N319 billion, representing 19 per cent of the total volume.
