Nigerian businesses and other private-sector operators expanded their borrowing between April and July 2026, lifting total private-sector credit to N83.43 trillion, according to Central Bank of Nigeria data reported on Wednesday.
The figures reveal a steady climb over the four-month period. Private-sector credit stood at N80.59 trillion in April, edged up to N81.04 trillion in May, then advanced more sharply to N83.26 trillion in June before reaching N83.43 trillion in July.
Overall, the movement between April and July amounted to an increase of roughly N2.84 trillion, equivalent to growth of 3.52 per cent. When measured against July 2025, private-sector credit was about 8.74 per cent higher.
The trend indicates sustained demand for bank financing among businesses, even as borrowing remains expensive. In July, the CBN's Monetary Policy Rate was set at 26.5 per cent, meaning companies continue to face significant financing costs at the same time that access to credit is widening.
