Credit to the private sector rose for the third consecutive month in August, climbing to N84.55 trillion, as lending to government fell for the third straight month to N32.70 trillion, highlighting a widening shift in the direction of domestic credit.
This is according to the Central Bank of Nigeria (CBN) latest money and credit statistics, which showed that private-sector credit increased by N1.13 trillion, or 1.35 per cent, from N83.43 trillion in July.
The August increase followed a N171.8 billion rise in July, when private-sector credit moved up from N83.26 trillion in June. Overall, private-sector credit has gained N3.51 trillion, or 4.33 per cent, since May, when it stood at N81.04 trillion. The recovery comes after a sharp contraction earlier in the year.
Private-sector credit rose to N94.61 trillion in February, its highest level in the period, before falling to N80.59 trillion in April. From that April low, credit has recovered by almost N4 trillion, although it remains about N10.06 trillion below the February peak. The year-on-year picture is stronger.
Private-sector credit was N75.88 trillion in August 2025, meaning the latest figure represents an increase of N8.67 trillion, or 11.43 per cent, over the year.
