Banks’ lending to private sector drops by N10trn in 7 months

Credit to Nigeria's private sector declined by about N10.3 trillion over seven months, falling from N93.74 trillion in January to N83.43 trillion as of July this year, according to money and credit statistics data reviewed by Daily Trust. The figures showed significant fluctuations in credit levels during the period, highlighting changes in lending activity within the economy. The Central Bank of Nigeria data indicated that credit to the private sector rose to N94.6 trillion in February before declining to N83.43 trillion in July 2026, representing a reduction of about 11 per cent year-to-date. The contraction means reduced credit available to private-sector businesses and other borrowers.

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