Credit to Nigeria’s agriculture sector rose to N3.86 trillion in March 2026, even as lending to the oil and gas industry declined by N335 billion during the first quarter of the year.
The figures are contained in the latest Quarterly Statistical Bulletin published by the Central Bank of Nigeria (CBN).According to the CBN data, agricultural credit increased steadily from N3.71 trillion in January to N3.81 trillion in February before reaching N3.86 trillion in March.
The increase represents a rise of about N150 billion, or approximately 4.0 per cent, between January and March.
In contrast, credit to the oil and gas sector fell from N10.91 trillion in January to N10.71 trillion in February and further to N10.58 trillion in March, representing a total decline of about N335 billion.
The data also showed a decline in lending to the manufacturing sector, which fell from N6.57 trillion in January to N5.77 trillion in March.However, credit to the power and energy sector increased from N1.30 trillion to N1.61 trillion during the same period.
Real estate lending also recorded a significant increase, rising from N4.67 trillion in January to N6.29 trillion in March.
Overall, total private sector credit expanded from N57.41 trillion in January to N59.74 trillion in March, indicating an increase of N2.33 trillion during the three-month period.
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The figures point to a shift in the distribution of bank credit across major sectors of the economy, with agriculture, power and energy, and real estate recording increases, while oil and gas and manufacturing experienced declines.
Agriculture recorded its highest credit level of the first quarter in March, reaching N3.86 trillion amid continued efforts to expand financing for the sector.
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