{
  "id": 12340033,
  "title": "Nigeria Personal Loans Total About US$1.55 Billion, Central Bank Data Show",
  "url": "https://urgent.news/2026/10/06/nigeria-personal-loans-total-about-us-1-55-billion-central-bank-data",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-06T07:44:15.000Z",
  "source": {
    "name": "The Rio Times",
    "slug": "the-rio-times",
    "url": "https://www.riotimesonline.com/nigeria-personal-loans-consumer-credit-may-2026/"
  },
  "original_language": "en",
  "account": "At the end of May 2026, Nigerians held approximately 2.06 trillion naira (US$1.55 billion) in personal loans, according to data released by the Central Bank of Nigeria (CBN). This figure represents a 1.98% increase compared to April 2026, when personal lending stood at 3.13 trillion naira (US$2.35 billion). Personal loans constituted 64.78% of the total consumer credit outstanding, which amounted to 3.18 trillion naira (US$2.39 billion) in May, up 1.60% from April. Retail loans, which include credit directly tied to purchasing goods and services, made up 35.22% of consumer credit, totaling about 1.12 trillion naira (US$841 million) in May. The balance of consumer debt, reflecting the total amount owed by households at month-end, grew by around 50 billion naira (US$38 million) in May, with the personal-loan balance alone rising by roughly 40 billion naira (US$30 million).",
  "summary": "Nigerians owed about US$1.55 billion in personal loans at the end of May 2026, central bank data show, as consumer credit rose 1.6% from April. The post Nigeria Personal Loans Total About US$1.55 Billion, Central Bank Data Show appeared first on The Rio Times .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}