L
LequteMan
Guest
The recent incessant attacks on oil installations by Niger Delta militants have affected the oil production output of the Nigerian government adversely.
Several oil wells have stopped production and oil companies are shutting down. At the moment Aiteo and Agip have shut down production while Shell has suspended exports indefinitely given the frequent attacks on the Forcados Terminal.
As a result, concerns have been raised about the asset quality of several Nigerian banks as they have been exposed due to the loans they've given out to players in the upstream oil and gas sector.
Here are the 5 banks most exposed by the attacks:
Guaranty Trust Bank
Sterling Bank
First Bank, FBNH
First City Monument Bank
Fidelity Bank
Photo credit: Proshare
Several oil wells have stopped production and oil companies are shutting down. At the moment Aiteo and Agip have shut down production while Shell has suspended exports indefinitely given the frequent attacks on the Forcados Terminal.
As a result, concerns have been raised about the asset quality of several Nigerian banks as they have been exposed due to the loans they've given out to players in the upstream oil and gas sector.
Here are the 5 banks most exposed by the attacks:
Guaranty Trust Bank
Sterling Bank
First Bank, FBNH
First City Monument Bank
Fidelity Bank
Photo credit: Proshare
