Nigeria's Debtors Rise to Nearly 10,000 in Q1 2026

In the first quarter of 2026, Nigeria's registered debtors rose by 52.2% year-on-year to an average of 9,611, according to data from the Central Bank of Nigeria’s Quarterly Statistics, sourced from the National Collateral Registry. This increase is notable compared to the average of 6,313 registered debtors in Q1 2025.

The growth was primarily driven by individuals and businesses, with individual debtors averaging 8,409 in Q1 2026, a 54.1% increase from 5,458 in Q1 2025. The number of individual debtors peaked at 10,539 in March 2026, although this was still 88% below the average of 69,993 recorded in Q4 2025.

Business debtor figures also showed year-on-year improvements, with large-business debtors averaging 387 in Q1 2026, a 272% increase from 104 in Q1 2025, but significantly lower than the Q4 2025 average of 3,051. Overall, while there was a year-on-year improvement in debtor numbers, they remained far below the extraordinary levels seen in the previous quarter.