Consumer credit in Nigeria dropped by 17 percent to ₦3.54 trillion in July 2025, down from ₦4.27 trillion in June.
The data comes from the Central Bank of Nigeria’s monthly economic report. Retail loans decreased significantly by 51.5 percent to ₦950 billion. Personal loans, however, rose by 12.1 percent to ₦2.59 trillion.
The decline reflects weak retail demand and increasing interest rates. According to the report, 40.6 percent of respondents observed higher loan costs in the past three months.
The shift toward personal loans suggests consumers are opting for credit for essential expenses rather than discretionary retail purchases.
For lenders and economic planners, the trend signals stress in the consumer‑finance segment. With reduced retail borrowing, growth in Nigeria’s credit market may hinge on tighter risk management and tailored products.
