Credit extended to Nigeria’s private sector rose by ₦1.13 trillion in August 2026, reaching ₦84.55 trillion, according to data from the Central Bank of Nigeria (CBN).
The latest figure represents a 1.35 percent increase from the ₦83.43 trillion recorded in July, showing continued growth in credit extended to businesses and other private-sector borrowers.
CBN money and credit statistics also showed that private-sector credit increased by ₦8.67 trillion, or 11.42 percent, compared with the ₦75.88 trillion recorded in August 2025.
The August increase followed a steady rise in private-sector credit in recent months. The figure moved from ₦81.04 trillion in May to ₦83.26 trillion in June before reaching ₦83.43 trillion in July.
Despite the latest increase, the August figure remained below the ₦94.61 trillion recorded in February 2026.
CREDIT TO GOVERNMENT FALLS TO ₦32.70 TRILLION
While credit to the private sector increased, lending to the government declined during the same period.
CBN data showed that credit to government fell from ₦33.92 trillion in July to ₦32.70 trillion in August, representing a decline of ₦1.22 trillion, or 3.60 percent, within the month.
Government credit had stood at ₦40.03 trillion in June and ₦40.38 trillion in May, meaning the August figure was ₦7.34 trillion lower than the June level.
The regulator reported that total net domestic credit stood at ₦117.25 trillion in August, compared with ₦117.35 trillion in July and ₦123.29 trillion in June.
Net domestic assets also increased during the month, rising from ₦101.07 trillion in July to ₦101.99 trillion in August.
Meanwhile, Nigeria’s money supply recorded a marginal increase. Money supply measured by M3 rose from ₦138.78 trillion in July to ₦139.38 trillion in August.
M2 money supply also increased from ₦138.77 trillion to ₦139.37 trillion over the same period.
M2 captures cash, funds in current accounts and certain savings and near-money assets, while the broader money supply measure reflects the level of liquidity available within the economy.
The latest figures provide an indication of movements in credit and liquidity across different parts of the Nigerian economy, with private-sector lending increasing in August while government credit declined.
Source: CBN data
