Lagos, Nigeria – Credit to Nigeria’s private sector increased slightly to N75.62 trillion (approximately $48.3 billion) in February 2026, up from N75.24 trillion recorded in January, according to the latest monetary and credit statistics released by the Central Bank of Nigeria.
Okay News reports that the figure represents total lending by banks and other financial institutions to businesses and households, including loans, trade credit, and other receivables. Despite the marginal month-on-month increase, a year-on-year comparison shows that private sector credit remains under pressure, with February 2025 credit standing higher at N76.26 trillion.
Credit peaked at N78.07 trillion in April 2025 before declining in subsequent months, with the lowest level recorded in September 2025 at N72.53 trillion. The recent uptick suggests a gradual recovery in lending activity, though not yet strong enough to reverse the broader downward trend observed over the past year.
Net domestic credit rose to N111.40 trillion in February 2026 from N109.43 trillion in January, while credit to the government climbed significantly to N35.77 trillion from N34.19 trillion. The sustained rise in government borrowing raises concerns about potential crowding-out effects, where increased public sector demand for funds limits the availability of credit to private businesses.
The modest growth in private sector credit comes amid a delicate monetary policy environment. In September 2025, the CBN’s Monetary Policy Committee reduced the Monetary Policy Rate by 50 basis points to 27 percent to stimulate economic activity, but high borrowing costs, persistent inflationary pressures, and exchange rate volatility have continued to weigh on lending appetite.
This private sector credit increase may signal early signs of stabilising macroeconomic conditions and a gradual restoration of lender confidence. Sustained private sector credit growth will depend on continued easing of monetary conditions and improved economic stability.
 in February 2026, up from N75.24 trillion recorded in January, according to the latest monetary and credit statistics released by the Central Bank of Nigeria.){kind=link}