Demand for credit to purchase homes in Nigeria rose to 9.6 index points in the second quarter of 2026, indicating increased borrowing activity among households seeking to acquire residential properties.
The Central Bank of Nigeria (CBN) disclosed this in its Credit Conditions Survey Report for Q2 2026, which showed an overall increase in credit availability across secured, unsecured and corporate lending during the period.
The report also indicated that lenders recorded lower default rates across major credit categories.
According to the survey, demand for secured lending increased to 15.1 index points, while corporate lending rose to 15.2 index points. Demand for unsecured lending, however, remained subdued at -1.2 index points.
Within the household segment, demand for consumer loans increased to 11.2 index points, while credit for house purchases rose to 9.6 index points.
Mortgage and re-mortgage lending also recorded growth, reaching 13.3 index points, while small business lending to households climbed to 26.4 index points.
For unsecured household credit, demand for overdrafts and personal loans increased to 7.9 index points, whereas demand for credit card lending declined to -2.0 index points.
The corporate sector also recorded increased demand for credit across different categories of businesses.
Credit demand rose to 26.5 index points among small businesses, 25.5 index points for medium-sized private non-financial corporations and 8.9 index points for large private non-financial corporations.
Meanwhile, credit demand among other financial corporations remained unchanged at 0.0 index points.
The apex bank further reported that commercial lenders observed a broad-based decline in default rates on both secured and unsecured loans.
Default rates also fell across all major corporate borrower categories, including small businesses, medium-sized and large private non-financial corporations, as well as other financial corporations.
The latest figures suggest a strengthening appetite for household and business credit during the quarter, alongside improved repayment performance among borrowers.
