Real sector ahoy! A one-trillion dollar economy is doubtful without special banking re-focus on agriculture and manufacturing The Central Bank of Nigeria (CBN) just rolled out distressing statistics over banks’ deposit and lending rates: some sectors face lending rates as high as 60%, even as savings deposit rates peak at 8.10%. Though the prime lending rate – the industry benchmark – still hovers around 25% (plus or minus), the highest lending rate – statistics-speak for “no-go areas” – could soar as high as 48% to 60%! Again: though the CBN report made it out as some general interest blight, the real alarm is that agriculture and manufacturing might have been copping lending rates as high as 60%! Even if that were the extreme – indicative of banks that would rather not do short-term l...