Nigeria's central bank reported that private-sector lending hit 74.41 trillion naira after the monetary policy committee slashed interest rates by half a percentage point to 27 percent. The jump came right after the first rate cut since 2020, and credit bounced back nearly 2 trillion naira from the previous period when it had crashed to 72.53 trillion. Banks had been parking cash with the central bank instead of lending it out, but regulators tweaked the rules to push more money toward businesses.
Private lending made up about 75 percent of total domestic credit while government borrowing dropped to just 25 percent, which flipped the ratio from a year earlier when the state was gobbling up way more of the available funds. Credit levels bounced around all year instead of climbing steadily, and the stock basically ended up at the same level it started despite all the volatility in between.
Private lending made up about 75 percent of total domestic credit while government borrowing dropped to just 25 percent, which flipped the ratio from a year earlier when the state was gobbling up way more of the available funds. Credit levels bounced around all year instead of climbing steadily, and the stock basically ended up at the same level it started despite all the volatility in between.
