Nigeria's Private Sector Credit Hits N83.43 Trillion

Credit to Nigeria’s private sector increased by approximately N2.84 trillion between April and July 2026, reaching N83.43 trillion in July from N80.59 trillion in April, according to data from the Central Bank of Nigeria (CBN). This increase represents a 3.52% rise over the three-month period and an 8.74% year-on-year increase from N76.72 trillion in July 2025.

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

Credit to the government also decreased, dropping from N40.03 trillion in June to N33.92 trillion in July. Despite maintaining a tight monetary policy stance, the CBN retained the Monetary Policy Rate at 26.50% during its July 2026 Monetary Policy Committee meeting, focusing on controlling inflation and macroeconomic stability.