Banks’ Trade Lending Jumps 34.7% to N6.29 Trillion, Manufacturing Credit Falls 12.3%
• Oil sector lending weakens to N10.58trn in March Nume Ekeghe Deposit money banks significantly increased financing to trade and commerce in the first quarter of 2026, even as lending
Deposit money banks witnessed a substantial 34.7% surge in trade lending to N6.29 trillion in Q1 2026, according to the Central Bank of Nigeria's Statistical Bulletin. Simultaneously, manufacturing credit contracted by 12.3% to N5.77 trillion, indicating a shift in credit allocation across key sectors. As trade lending expanded from N4.67 trillion in January to N6.29 trillion in March, construction and power sectors also saw growth, while oil and gas lending declined by 3.1%.
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