April 17, 2024

Nigeria Economic Update (Issue 12)

In its recent Money and Credit statistics, the Central Bank of Nigeria (CBN) revealed that bank’s credit to the private sector increased month-on-month (MoM) by 5.99 percent from N76.29 trillion in January 2024 to N80.86 trillion in February 2024. Year-on-Year, this represents a N39.11 trillion (93.67 percent) percent increase from N41.75 trillion recorded in February 2023. The data further shows that credit to the government fell by 6.2 percent from N36.17 trillion in January 2024 to N33.92 trillion in February 2024.

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