Nigeria’s oil and gas sector attracted the largest share of bank lending in the first half of 2025, accounting for 30 percent of deposit money banks’ loan portfolio, according to Credit Direct’s 2025 Nigeria’s Credit Landscape Report.
The sector emerged as the single largest recipient of bank credit during the period, ahead of manufacturing and financial institutions, which accounted for 16 percent and 12 percent respectively. Other sectors each received less than 10 percent of total lending.
The findings highlight a growing disconnect between credit allocation and the structure of the Nigerian economy.
According to the report, the non-oil economy contributes roughly 95 percent of economic output, while the oil sector accounts for less than 5 percent. A further breakdown showed that services contributed 53 percent of economic activity as of the third quarter of 2025, followed by agriculture at 31.21 percent and industry at 15.77 percent.
Credit Direct said the divergence between lending patterns and economic activity signals a growing misalignment within the financial system, with sectors driving output and employment receiving a smaller share of formal bank credit.
