Personal loans hit N2.06trn as Nigerians borrow to cope with rising costs
Personal loans obtained by Nigerians rose to an estimated N2.06 trillion in May 2026, accounting for nearly two-thirds of total consumer credit, as households increasingly turned to borrowing amid persistent cost pressures and weak consumer spending. The latest Economic Report of the Central Bank of Nigeria showed that total consumer credit outstanding increased by 1.60 […]
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