More Nigerians are turning to credit to finance their dream of owning a home, according to the Central Bank of Nigeria (CBN).
Credit demand for house purchases rose to 9.6 index points in the second quarter of 2026 (Q2 2026). The increase points to growing reliance on loans as Nigerians seek to buy or build personal homes.
The CBN disclosed this in its Credit Condition Survey Report for Q2 2026. The report also showed an overall increase in credit availability across secured, unsecured and corporate lending during the period.
Household borrowing recorded growth across several areas. Consumer loans rose to 11.2 index points, while mortgage and re-mortgage lending climbed to 13.3 index points.
Small business lending to households recorded an even stronger increase. Demand reached 26.4 index points during the quarter.
Nigerians also increased their use of overdrafts and personal loans. Demand for these facilities rose to 7.9 index points. However, credit card lending declined to -2.0 index points.
The CBN also reported stronger demand from businesses. Credit demand among small businesses rose to 26.5 index points. Medium-sized private non-financial companies recorded 25.5 index points, while large companies reached 8.9 index points.
Meanwhile, demand from other financial corporations remained unchanged at 0.0 index points.
Despite the rise in borrowing, lenders reported encouraging signs on loan repayments. The CBN said default rates fell across major secured and unsecured lending categories.
Banks also recorded fewer defaults among corporate borrowers. The decline covered small businesses, medium and large companies, as well as other financial corporations.
The latest figures highlight a growing appetite for credit among Nigerians, particularly for housing and personal financial needs. They also show that lenders are seeing stronger demand while experiencing fewer loan defaults across several sectors.
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