Business
400 Coys To Participate In Enugu Trade Fair
The President, Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA), Dr Ifeanyi Okoye, has said that more than 400 companies had indicated interest to participate at the 2014 Enugu International Trade Fair.
He said that the participating corporate organisations would include more than 25 companies from India, China, Indonesia, UK, Malaysia, US and South Africa.
He said that the visit was to solicit the support of newsmen in ensuring the success of the fair, the 25th edition, billed for March 28 to April 7.
He disclosed that arrangements were being made by the chamber and Enugu State Government for the fair with the theme: “Increasing the Competitiveness of Nigerian Products in Global Market”.
The fair will be declared open by President Goodluck Jonathan.
Okoye said that agriculture would play a central role at the fair, saying that the fair would specifically help to boost agricultural production and commercial farming.
He said that new products, prototypes, innovations and research findings would be displayed at the fair.
He assured that efforts had been made to provide security and necessary infrastructure, including power and water at the fair site.
Okoye said that the chamber was collaborating with the state government to provide the facilities.
He said that two 500 KVA generators would also be provided for use in case of disruption in public power supply at the fair venue.
“We have become familiar with the environment and will use our experience gathered in the past to create more ambience to make the environment friendly, through improved and systematic allocation of space to participants,” he said.
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
