Nigerians Borrow More to Build Houses – CBN

Credit for house purchases by Nigerian households rose to 9.6 index points in the second quarter of 2026, according to the Central Bank of Nigeria’s Credit Condition Survey Report for Q2’26 released on Sunday.

The CBN said lenders reported increased credit availability for secured, unsecured and corporate lending during the period.

Demand for credit increased to 15.1 index points for secured lending and 15.2 index points for corporate lending, while unsecured lending remained subdued at -1.2 index points.

Consumer loans to households increased to 11.2 index points, while mortgage and re-mortgage lending rose to 13.3 index points. Lending for small businesses to households increased to 26.4 index points.

“Respondents reported that credit demand increased to 15.1 index points for secured lending and 15.2 index points for corporate lending, while unsecured lending remained subdued at -1.2 index points.

“Consumer loans to households increased (11.2), credit for house purchase to households increased (9.6), lending for small businesses to households increased (26.4).

“Mortgage/re-mortgage lending from Households increased (13.3).”

In terms of unsecured lending, the CBN reported that household credit card lending fell to -2.0 index points while overdraft and personal loans rose to 7.9 index points.

The central bank reported that lending to medium-sized PNFCs increased to 25.5 index points, lending to small businesses increased to 26.5 index points, and lending to large PNFCs increased to 8.9 index points.

Credit to other financial corporations remained unchanged at 0.0 index points.

The CBN also reported that lenders recorded lower default rates across secured and unsecured lending, as well as across all corporate lending categories, including small businesses, Medium PNFCs, Large PNFCs, and OFCs.