Business Borrowing Pushes Private Sector Credit to ₦83.43tn

Credit to Nigeria’s private sector increased by about N2.84 trillion between April and July 2026, reaching N83.43 trillion in July from N80.59 trillion in April.

This is according to the latest data from the Central Bank of Nigeria (CBN).

The increase represents a 3.52% rise over the three-month period, pointing to a gradual expansion in lending to businesses and other private-sector borrowers.

Year-on-year, private sector credit increased by N6.70 trillion, or 8.74%, from N76.72 trillion recorded in July 2025.

The latest data show that private sector credit rose from N80.59 trillion in April to N81.04 trillion in May and N83.26 trillion in June before reaching N83.43 trillion in July.

• The strongest monthly increase within the period occurred between May and June, when credit expanded by about N2.22 trillion.
• Growth then moderated significantly in July, with lending increasing by approximately N171.80 billion, or 0.21%, from June.
• The CBN database does not provide a figure for March 2026, making April the earliest available data point for assessing the three-month increase.
• It also does not provide the sector-by-sector distribution of private sector credit for the months covered in the latest database.

The increase in private sector credit came alongside a decline in net domestic credit.

Net domestic credit fell to N117.35 trillion in July from N123.29 trillion in June, representing a decline of about N5.94 trillion, or 4.82%.

Credit to government also declined during the month, falling from N40.03 trillion in June to N33.92 trillion in July.

While the latest CBN database does not provide the sectoral breakdown for private sector credit, its Q1 2026 statistical bulletin showed significant changes in lending across major economic sectors.