Private Sector Credit Rises By N2.39trn In 3 Months

Credit to Nigeria’s private sector increased by N2.39 trillion between May and July 2026, rising to N83.43 trillion in July from N81.04 trillion in May, according to the latest data from the Central Bank of Nigeria (CBN).

The data showed that private sector credit recorded its strongest monthly increase during the period in June, rising by N2.22 trillion to N83.26 trillion from N81.04 trillion in May. However, the pace of growth moderated significantly in July, with credit increasing by N171.80 billion, or 0.21 per cent, to N83.43 trillion.

On a year-on-year basis, private sector credit rose by N6.70 trillion, or 8.74 per cent, from N76.72 trillion recorded in July 2025, indicating continued expansion in lending to businesses and other private-sector borrowers.

The increase in private sector credit came alongside a decline in net domestic credit. Net domestic credit fell by N5.94 trillion, or 4.82 per cent, to N117.35 trillion in July from N123.29 trillion in June.

Similarly, credit to government declined during the month, falling to N33.92 trillion in July from N40.03 trillion in June, a development that contrasted with the continued growth in credit extended to the private sector.