Banks shift N3.86 trillion into agriculture as oil and gas credit shrinks
Credit to Nigeria’s agriculture sector rose to N3.86 trillion in March 2026, even as lending to the oil and gas sector fell by N335 billion over the first three months of the year. This is according to the latest Quarterly Statistical Bulletin published by the Central Bank of Nigeria (CBN). The CBN data showed that […] The post Banks shift N3.86 trillion into agriculture as oil and gas credit…
The Central Bank of Nigeria (CBN) reported in its latest Quarterly Statistical Bulletin that credit to Nigeria's agriculture sector surged to N3.86 trillion in March 2026, while lending to the oil and gas sector declined by N335 billion over the same period. According to the CBN data, agricultural credit grew from N3.71 trillion in January to N3.81 trillion in February before reaching N3.86 trillion in March, indicating a gradual increase in credit to agriculture during the first quarter of 2026.
Meanwhile, credit to the oil and gas sector saw a decline, reflecting a shifting credit allocation pattern across major sectors of the economy. The report also noted that total private sector credit increased to N75.62 trillion in February 2026, while overall credit in the economy expanded, driven by increased domestic lending.
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