•Private sector credit rises by N2.22 trillion as lending to govt declines

Nigeria’s money supply rose to N133.25 trillion in June 2026, an increase of N4.04 trillion from N129.21 trillion in May, despite prolonged monetary tightening by the Central Bank of Nigeria (CBN).

At its last Monetary Policy Committee (MPC) meeting, the bank retained its monetary policy rate (MPR) at 26.5 per cent, one of the highest globally.

The latest money and credit statistics showed that credit to the private sector increased to N83.26 trillion in June from N81.04 trillion in May, indicating sustained lending to businesses even as the Central Bank continues its efforts to curb inflation and maintain macroeconomic stability.

According to the CBN, the latest increase was driven mainly by growth in net domestic assets and quasi-money.

The data showed that broad money (also known as M3) supply rose by 3.11 per cent month-on-month, representing an increase of N4.04 trillion, while on a year-on-year basis, it expanded by 13.59 per cent, rising by about N16 trillion from the N117.25 trillion recorded in June 2025.

A breakdown of the figures showed that quasi-money rose to N88.54 trillion from N84.58 trillion, while demand deposits increased to N39.78 trillion from N39.43 trillion.

However, currency outside banks declined to N4.92 trillion from N5.19 trillion during the period, suggesting a more aggressive deepening of financial inclusion.

The apex bank’s data further showed that net domestic assets increased by 4.37 per cent to N106.73 trillion from N102.26 trillion in May, while net foreign assets declined slightly by 1.56 per cent to N26.53 trillion from N26.95 trillion.

The bank added that the growth in money supply comes as it “continues to balance liquidity management with efforts to moderate inflation and preserve macroeconomic stability”.

On credit activities, the CBN reported that private sector credit increased by about N2.22 trillion month-on-month, representing a 2.74 per cent rise between May and June.

Compared with N76.13 trillion recorded in June 2025, lending to the private sector rose by about N7.13 trillion, translating to a 9 per cent year-on-year rise.

The latest figures also showed that credit to government declined slightly to N40.03 trillion from N40.38 trillion, while other assets fell to N10.76 trillion from N12.63 trillion.

At the same time, net domestic credit rose to N123.29 trillion from N121.42 trillion, while reserve money increased marginally to N39.52 trillion from N39.45 trillion, representing an increase of about N66.54 billion.

The CBN said the increase in private sector credit reflected continued growth in lending to businesses and other private sector borrowers during the month, despite its relatively tight monetary policy stance.

The apex bank, however, did not provide details of sectoral allocations for the credit extended during the period.