Nigerian bank credit to manufacturers drops by 29%, says CBN
The Central Bank of Nigeria (CBN), on Monday disclosed that Nigerian banks credit to the manufacturing sector dropped by 27per cent year-on-year to N5.19 trillion in June 2026;.
The report by CBNB highlights a drop in lending to manufacturers amid persistent operating challenges.
The CBN’s Q2 2026 statistical bulletin showed that outstanding bank credit to manufacturers dropped from N7.09 trillion in June 2025 to N5.19 trillion in June 2026.
The decline also continued a downward trend in manufacturing credit recorded through much of the first half of 2026.
The figures come as manufacturers continue to contend with high production costs, electricity expenses, logistics constraints and exchange-rate pressures.
The CBN data showed that credit to manufacturers fell from N6.57 trillion in January 2026 to N5.19 trillion in June, representing a reduction of about 21per cent over the six-month period.
Monthly figures indicate that lending to the sector declined consistently between January and May before recording a modest increase in June.
The data suggest that outstanding bank credit to manufacturers weakened over the first half of 2026, although the figures alone do not establish whether the decline resulted from reduced new lending, loan repayments or changes in outstanding credit balances.
