Banks’ Lending To Private Sector Climbs To N94.6tn In February – CBN

Credit extended by Nigeria’s banking industry to the private sector rose to an all-time high of N94.6 trillion in February 2026, underscoring sustained lending to businesses and households, according to the Central Bank of Nigeria (CBN).

The latest data from the apex bank showed an increase from N93.743 trillion recorded in January 2026, reflecting steady month-on-month growth as financial institutions continue to deepen credit exposure to the real sector.

On a year-on-year basis, the expansion was even more significant. Private sector credit stood at N76.257 trillion in February 2025, indicating an increase of over N18 trillion within a 12-month period.

A review of lending trends in 2025 revealed a largely upward trajectory despite intermittent fluctuations. Credit rose to N78.067 trillion in April before easing 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 in the final quarter of the year, climbing to N74.411 trillion in October and N74.631 trillion in November, before closing December at N75.834 trillion.

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

The data showed that government borrowing followed a gradual upward trend over the past year, rising from N25.029 trillion in January 2025 to N27.111 trillion in February. It fluctuated through the first half of the year, dipping to N21.662 trillion in June before picking up again to N23.691 trillion in July and N22.951 trillion in August.

Government credit strengthened further in the latter part of the year, increasing 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.