A new report from the Central Bank of Nigeria shows that Nigerians are taking out more loans to finance home purchases. In the second quarter of 2026, housing credit rose to 9.6 index points, highlighting a growing trend in personal real estate investment.
The CBN’s Credit Condition Survey for Q2 2026 indicates that financial institutions expanded credit availability across secured, unsecured, and corporate sectors. Notably, lenders experienced a decrease in default rates across nearly all categories during this timeframe.
Demand for secured and corporate loans saw significant growth, hitting 15.1 and 15.2 index points respectively. Lending specifically for small businesses jumped to 26.4 points, while mortgage and re-mortgage activities grew by 13.3 points. While personal loans saw an uptick, credit card usage experienced a slight decline. Overall, the banking sector reported a healthy environment with lower defaults, even as corporate lending to small and large private non-financial corporations surged.
