Private Sector Credit Edges Up to N75.62tn as Government Borrowing Tightens Grip on Bank Lending

Private sector credit rose slightly to N75.62 trillion in February 2026, up N380 billion from January.

On a year-on-year basis private credit remains below February 2025 levels, and lending is far from its April 2025 peak.

Net domestic credit rose to N111.40 trillion as government borrowing climbed to N35.77 trillion, highlighting a crowding-out effect.

The CBN cut the policy rate by 50bp to 26.5% but kept CRR at 45% and liquidity ratio at 30%, keeping system liquidity tight.