Nigeria's Private Sector Credit Reaches ₦84.55 Trillion

In August 2026, credit to Nigeria's private sector reached ₦84.55 trillion, according to data from the Central Bank of Nigeria. This figure represents a monthly increase of ₦1.13 trillion, or 1.35%, from ₦83.43 trillion in July.

The rise in private-sector credit has been consistent since May 2026, when it was ₦81.04 trillion, increasing to ₦83.26 trillion in June and ₦83.43 trillion in July. Compared to ₦75.88 trillion in August 2025, this marks an increase of ₦8.67 trillion, or approximately 11.4%.

The data indicates a recovery in overall bank lending to businesses and private-sector borrowers, although it does not imply that credit is becoming cheaper or more evenly distributed. The lack of an August sectoral breakdown complicates the identification of which industries contributed to this increase.

Previous data from the CBN indicated significant disparities in credit allocation across sectors, with agriculture receiving ₦3.86 trillion and declines in lending to oil and gas and manufacturing.