Banks credit to finance sector jumps to N9.8 trillion in March
Credit extended by Nigerian deposit money banks to the finance, insurance and capital market sector rose to N9.80 trillion in March 2026, while credit to government reached N3.38 trillion. The post Banks credit to finance sector jumps to N9.8 trillion in March appeared first on Nairametrics .
In March 2026, Nigerian deposit money banks extended N9.80 trillion in credit to the finance, insurance, and capital market sector, according to the Central Bank of Nigeria's Q1 2026 Statistical Bulletin. This represented a rise from N9.03 trillion in January, N9.16 trillion in February, and N9.80 trillion in March. Credit to the government totaled N3.38 trillion during the same period.
Across major sectors, trade and general commerce, finance and related activities, and other sectors exhibited notable movements. Despite an overall increase in lending, increases in some sectors were accompanied by declines in others. This uneven credit allocation underscored that bank lending did not uniformly expand across the economy during the first quarter.
The rise in credit was influenced by the CBN's monetary policy adjustments, which aimed to balance growth with inflation control. However, high borrowing costs, persistent inflation, and exchange rate volatility continued to temper lending activity. The data also highlighted that while agriculture credit grew to N3.86 trillion in March, lending to the oil and gas sector fell by approximately N335 billion over the first quarter.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
