Banks slash lending, cut N5.4trn across key sectors

Nigerian commercial banks slashed lending to eight key sectors by N5.45 trillion (14.8%) year-on-year in 2025, including oil and gas, ICT, construction, education, manufacturing, real estate, and general services. The decline follows the Central Bank of Nigeria's withdrawal of regulatory forbearance. Total credit to these sectors fell to N31.31 trillion from N36.77 trillion in 2024. General services saw the steepest drop (25.02%), followed by manufacturing (22.52%).