Nigeria's Private Sector Credit Hits N75.62 Trillion in Feb 2026

In February 2026, Nigeria's private sector credit increased to N75.62 trillion, up from N75.24 trillion in January 2026, according to the latest monetary credit statistics released by the Central Bank of Nigeria (CBN). This figure represents total lending by banks and financial institutions to businesses and households, including trade credit.

The increase suggests a gradual recovery in lending activity, although it is not yet strong enough to reverse the broader downward trend observed over the past year. The total credit to the economy continues to expand, driven by a significant increase in domestic lending and sustained government borrowing, raising concerns about potential crowding out of private sector credit.

The modest growth in private sector credit occurs amid a delicate monetary policy environment. The Centre for the Promotion of Private Enterprise (CPPE) has raised concerns about the persistent structural weaknesses in Nigeria's credit system, despite the success of recent bank recapitalization exercises.

The CBN's cash reserve ratio remains at 45.0% for commercial banks and 16.0% for merchant banks.