Latest monetary data from the Central Bank of Nigeria (CBN) have shown that credit extended to Nigeria’s private sector rose to N83.26 trillion in June 2026, up from N81.04 trillion recorded in May.
The latest data also come amid a broader expansion in money supply, with Nigeria’s broad money supply rising to N133.25 trillion in June from N129.21 trillion in May.
The increase represents a month-on-month rise of about N2.22 trillion, or 2.74 per cent, signalling stronger lending activity to businesses and other private-sector borrowers despite the prevailing tight monetary policy environment.
On a year-on-year basis, private-sector credit increased by about N7.13 trillion, or 9 per cent, from N76.13 trillion recorded in June 2025.
The latest figures indicate that credit expansion continued in June as the CBN sought to balance its inflation-control measures with the need to stimulate economic growth and improve access to financing.
Meanwhile, credit to the government declined marginally to N40.03 trillion in June from N40.38 trillion in May, while net domestic credit increased to N123.29 trillion from N121.42 trillion.
Reserve money, also known as base money, rose slightly to N39.52 trillion from N39.45 trillion during the period, while net other assets declined from N12.63 trillion to N10.76 trillion.
The expansion in private-sector lending could provide some support for businesses seeking funds for investment, working capital and expansion, although the impact on productive sectors will depend largely on the cost and allocation of credit.
The CBN has continued to maintain a cautious monetary policy stance as it works to contain inflation while supporting economic activity. However, concerns remain over structural constraints in Nigeria’s credit market and the relatively limited flow of affordable, long-term financing to productive sectors capable of driving industrialisation and job creation.
