Banks' Credit to Private Sector Hits N75.62tn in February

As of February 2026, banks' credit to the private sector rose to N75.62 trillion, a significant increase from N75.24 trillion in January 2026, marking a post-recapitalization high. The Central Bank of Nigeria (CBN) reported that total credit to the domestic economy increased to N111.39 trillion, representing a 1.8% rise from January's N109.42 trillion.

However, there was a slight year-on-year decline in private sector credit of 0.8% compared to N76.25 trillion in February 2025. In contrast, government credit saw a notable increase, rising to N35.77 trillion in February 2026 from N34.18 trillion in January 2026, reflecting a year-on-year surge of 24.2%.

Muda Yusuf, Chief Executive Officer of the Centre for the Promotion of Private Enterprise, commended the CBN's efforts but expressed concern over the weak flow of credit to small and medium enterprises (SMEs), which account for only 5% of total bank lending. The overall net domestic credit rose by 7.8% year-on-year to N103.36 trillion in February 2025.