Banks in Nigeria increased their lending to the federal government significantly over the past year, according to data from the Central Bank of Nigeria.
The figures show that credit given to the government rose from N23.93 trillion in April 2025 to N39.60 trillion in April 2026.
This represents an increase of N15.66 trillion, which is a very large jump of about 65.44% within just one year.
During the same period, the total amount of credit in the economy also increased, rising from N102.00 trillion to N120.18 trillion.
However, most of this growth did not go to private businesses or households.
Instead, the government accounted for the largest share of the increase in borrowing from the banking system. Out of the total N18.18 trillion rise in domestic credit, about N15.66 trillion went to the government, while only N2.52 trillion went to the private sector. This means roughly 86% of new credit
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