Credit to private sector declines 15% in July

Credit to the private sector in Nigeria declined by 15.3 percent month-on-month to N33.9 trillion in July 2026, down from N40.03 trillion in June 2026, according to the Central Bank of Nigeria's Money and Credit Statistics. Credit to the government also fell slightly by 0.18 percent to N83.4 trillion in the same period. This resulted in a net domestic credit of N117.4 trillion, a 4.3 percent decline from the previous month. Despite the drop in credit, broad money supply (M2) grew by 4.2 percent to N138.7 trillion in July 2026.

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