Credit extended to Nigeria’s private sector increased by N2.22 trillion in June 2026, reaching N83.26 trillion from N81.04 trillion recorded in May, according to the latest economic data released by the Central Bank of Nigeria (CBN).
The figures indicate sustained growth in lending to businesses and private-sector borrowers, reflecting continued access to financing despite the country’s tight monetary policy.
On a year-on-year basis, private sector credit rose by nine per cent from N76.13 trillion recorded in June 2025, representing an increase of about N7.13 trillion.
The CBN data also showed that lending to the private sector grew by approximately 2.74 per cent between May and June 2026.
Meanwhile, credit to the Federal Government declined slightly during the same period, falling to N40.03 trillion from N40.38 trillion recorded in May. Other net assets also dropped from N12.63 trillion to N10.76 trillion.
The increase in private sector lending contributed to the overall rise in net domestic credit, even as government borrowing and other assets recorded declines.
Analysts say the latest figures reflect growing confidence among financial institutions in supporting businesses and productive sectors of the economy.
The development comes as the Central Bank continues its efforts to balance inflation control with the need to stimulate economic growth through increased access to credit.
At its 306th Monetary Policy Committee (MPC) meeting held on July 20 and 21, the CBN maintained all key monetary policy parameters.
The committee retained the Monetary Policy Rate (MPR) at 26.5 per cent, kept the Standing Facilities Corridor at +50/-450 basis points, and left the Cash Reserve Requirement (CRR) unchanged at 45 per cent for Deposit Money Banks, 16 per cent for Merchant Banks, and 75 per cent for non-TSA public sector deposits.
The decision is expected to support continued lending to the private sector as stakeholders continue to encourage banks to channel more funds toward businesses and productive investments instead of concentrating on government securities.
