Bank Lending To Private Sector Rises To N94trn In February

Credit extended by the banking industry to Nigeria’s private sector rose to an all-time high of N94.610 trillion in February 2026, as banks sustained lending activities to businesses and households.

The latest figures released by the Central Bank of Nigeria (CBN) show an increase from N93.743 trillion recorded in January 2026, reflecting a month-on-month growth as financial institutions deepen credit exposure to the real sector.

On a year-on-year basis, the growth is even more pronounced. Credit to the private sector stood at N76.257 trillion in February 2025, indicating a significant rise of over N18 trillion within a 12-month period.

A breakdown of the data for 2025 revealed a largely upward trend in lending, despite intermittent fluctuations. Credit peaked at N78.067 trillion in April 2025 before moderating to N77.967 trillion in May and N76.125 trillion in June. It declined further to N76.723 trillion in July and N75.882 trillion in August, before dropping to N72.527 trillion in September.

However, lending rebounded towards the end of the year, rising to N74.411 trillion in October and N74.631 trillion in November, before closing December at N75.834 trillion.

In contrast, credit to the government also recorded a steady increase, reaching N39.359 trillion in February 2026, up from N37.867 trillion in January 2026.

The data indicated that government borrowing has grown consistently from N25.029 trillion in January 2025 and N27.111 trillion in February 2025. It fluctuated through the first half of the year, dropping to N21.662 trillion in June before climbing again to N23.691 trillion in July and N22.951 trillion in August.

Government credit rose further to N24.158 trillion in September and N24.787 trillion in October, before surging to N26.352 trillion in November and N34.221 trillion in December 2025.