The Central Bank of Nigeria (CBN) has disclosed that credit to Nigeria’s private sector rose to N77.9 trillion in April 2025, up from N76.2 trillion in March.
The April figure also exceeds the N77.38 trillion recorded in January and N76.26 trillion in February, indicating a steady upward trend in private sector lending.
In simple terms, credit to private sector by banks refers to financial resources provided to the private sector by other depository corporations (deposit taking corporations except central banks), such as through loans, purchases of nonequity securities, and trade credits and other accounts receivable, that establish a claim for repayment.
Although the CBN did not publish the detailed sectoral breakdown for April, earlier data indicate that the bulk of credit continues to flow into the manufacturing, general commerce, and oil and gas sectors.
In its latest February 2025 Economic Report, the apex bank noted that the services sector accounted for the largest share of credit at 52.10per cent, followed by the industrial sector at 42.9per cent, while agriculture received 5.41%.In contrast to the increase in private sector credit, lending to the public sector saw a significant decline.
Credit to the public sector dropped to N23.6 trillion in April from N25.9 trillion in March, reflecting a reduction in government borrowing or repayments during the period.
CBN Governor Olayemi Cardoso has recently stressed that rebuilding institutional credibility remains a top priority for the apex bank. Recent steps taken, such as the publication of audited financial statements and net reserve figures, are part of a broader effort to restore confidence in the central bank’s role as a custodian of monetary stability.
He noted that the CBN is not a commercial bank and should not be assessed by conventional profitability metrics.
However, the move from a loss position of over N1 trillion in 2023 to about N30 billion in 2024 demonstrates the extent of reforms and fiscal consolidation achieved within the institution over the last 18 months.
Despite global uncertainties and structural economic challenges, the CBN believes that Nigeria is on a steady recovery path. The combination of tighter monetary policy, exchange rate reforms, improved reserve management, and stronger collaboration with fiscal authorities is expected to deepen macroeconomic stability and support medium-term growth.