This post was originally published on this site.
Nigerian bank lending to the private sector grew marginally to N81.041 trillion in May 2026Data shows that lending to the government increased by 1.97%, pushing total domestic credit to N121.4 trillionCash held outside banks reached a record N5.193 trillion as Nigerians prefer physical cash
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Nigeria’s bank loans to the private sector recorded a slight increase in May 2026, rising by 0.56% to N81.041 trillion from N80.585 trillion in April.
The growth marked a recovery after the decline recorded in the previous month, indicating a modest improvement in borrowing by businesses and households, although credit levels remained below earlier peaks.
Private sector credit rises to N81 trillion but remains below February’s record level Photo: BloombergSource: Getty Images
Recent data from the Central Bank of Nigeria (CBN) showed that private sector credit
