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 to manufacturing and oil and gas declined, highlighting a shift in the distribution of bank credit across key sectors of the economy.

Data from the Central Bank of Nigeria’s (CBN) Q1 2026 Statistical Bulletin showed that credit to trade and general commerce rose by 34.6 per cent from N4.67 trillion in January to N6.29 trillion in March.

The N1.62 trillion increase made trade and general commerce the strongest-growing major sector during the three-month period.

Banks’ Trade Lending Jumps 34.7% to N6.29 Trillion, Manufacturing Credit Falls 12.3%

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