Credit to Nigeria’s private sector increased to N83.3tn in June 2026, representing a 2.8 per cent month-on-month rise from N81tn in May, according to the latest Money and Credit Statistics released by the Central Bank of Nigeria.

The apex bank’s data also showed that credit to the government declined 0.99 per cent to N40tn in June from N40.4tn in May.

As a result, net domestic credit rose 1.5 per cent to N123.3tn in June, compared with N121.42tn recorded in the previous month.

The increase in private sector lending suggests that banks continued to extend more credit to businesses and households despite the CBN’s high-interest rate environment. If sustained, stronger credit growth could support business expansion, investment and economic activity, analysts say. However, it also raises the possibility of higher inflationary pressures if credit growth exceeds the economy’s productive capacity.

The figures indicate that demand for financing remains strong even as the CBN maintains a tight monetary policy stance aimed at curbing inflation and stabilising prices.

FMDQ Securities Exchange Limited has approved and listed Paras Energy Funding SPV Plc’s N15.00bn 5-year 18.00 per cent Series 1 Fixed Rate Bond on its platform.

The listing, executed under the company’s N25.00bn Bond Issuance Programme, followed approval by the Exchange’s Board Listings and Markets Committee.

Commenting on the listing, the Group Chief Operating Officer of FMDQ Group Plc, Ms Tumi Sekoni, emphasised the role of capital markets in driving critical infrastructure development.

“The listing of Paras Energy Funding SPV PLC’s N15.00bn Series 1 Fixed Rate Bond on FMDQ Exchange reflects the important role the debt capital markets play in financing Nigeria’s power sector.

“As the country continues to prioritise reliable and sustainable energy infrastructure, FMDQ Exchange remains committed to connecting credible issuers like Paras Energy Funding with the investors needed to drive long-term growth through its trusted platform,” Sekoni said.

Paras Energy Funding SPV Plc is a special purpose vehicle established to support the capital market financing needs of the Paras Energy Group, an independent power generation company supplying electricity to Nigeria’s national grid, industrial clusters, and private off-takers.

According to the company, proceeds from the bond issuance will be deployed to finance power generation, expand critical infrastructure, and refinance existing debt obligations to enhance electricity reliability across the country.

Nigeria’s power sector continues to face liquidity constraints and infrastructure deficits, making private sector investments and capital market interventions critical to bridging the nation’s energy supply gap.

The transaction was sponsored by Rand Merchant Bank Nigeria Limited as the lead sponsor, alongside FCMB Capital Markets Limited, both acting as Registration Members (Listings) of the Exchange.

FMDQ Exchange reaffirmed its commitment to strengthening Nigeria’s financial ecosystem through market innovation, strong governance, and operational transparency, reinforcing its position as a preferred venue for long-term debt capital.

Sterling Bank’s non-performing loan ratio has remained largely stable over the past decade, rising marginally from 4.80 per cent in the first quarter (Q1) of 2016 to 4.93 per cent in Q1 2026, while staying below the Central Bank of Nigeria’s five per cent prudential threshold.

Sterling Bank’s ratio remained far lower than the industry’s performance of eight per cent to nine per cent in Q1.

Bad loans in Nigeria’s banking sector stood at 8.03 per cent in January 2026. The figure, contained in the CBN’s January 2026 Economic Report, showed that the industry’s non-performing loans ratio rose by 0.52 percentage point from 7.51 per cent in December 2025.

It also remained above the CBN’s prudential threshold of five per cent, indicating a further deterioration in asset quality across the banking industry despite the apex bank’s insistence that the sector remained resilient.

The report said, “Following the bank’s loan reclassification after the withdrawal of forbearance, the non-performing loans ratio rose by 0.52 percentage point to 8.03 per cent compared with the level in the preceding period and was above the 5.00 per cent prudential threshold.”

The average (NPL) ratio for the Nigerian banking sector reached 9.85 per cent by February.

The CBN warned that a stubborn rise in non-performing loans could impair asset quality and weaken banks’ balance sheets, thereby posing systemic risk.

It recommended deepening “the operational integration of the GSI framework across all financial institutions to enhance loan recovery efficiency and credit discipline.”

The CBN also recommended strengthening credit discipline and reducing NPLs by fully integrating the Global Standing Instruction framework to boost loan recovery efficiency.

The Manufacturers Association of Nigeria has renewed its call for coordinated structural reforms to address inflation, improve productivity and strengthen the competitiveness of the country’s manufacturing sector, as it looked ahead to the second half of 2026 following disruptions caused by the Middle East conflict.

The association made the call against the backdrop of the latest National Bureau of Statistics data, which showed that Nigeria’s headline inflation eased marginally to 15.91 per cent in June 2026 from 15.93 per cent in May. However, food inflation accelerated on a month-on-month basis, driven by higher prices of fresh pepper, tomatoes, crayfish, beef, garri, yams and other staple foods.

The PUNCH earlier reported that members of the organised private sector welcomed the slight decline in the inflation rate for June 2026 but warned that inflation remained in double digits and prices were still too high for businesses and consumers.

In his remarks for the April-June edition of MAN News obtained by this publication, the Director-General of MAN, Segun Ajayi-Kadir, observed that the renewed increase in inflation during the quarter highlighted the fragility of Nigeria’s economic recovery as higher food prices, energy costs, transportation expenses and exchange rate pressures continued to raise production costs and weaken consumers’ purchasing power.

“MAN has consistently maintained that addressing inflation requires coordinated structural reforms that improve productivity, strengthen infrastructure, enhance security in agricultural and industrial communities, and stabilise the foreign exchange market,” Ajayi-Kadir stated.

Meanwhile, Ajayi-Kadir noted that the association remained committed to pursuing policies that would enhance industrial competitiveness despite economic headwinds in the first half of the year.

He said, “As we enter the second half of the year, our priorities remain firmly focused on advancing policies that improve competitiveness, encourage investment, expand local production, deepen exports, and position Nigeria as Africa’s industrial hub and the preferred manufacturing destination.”

He noted that the second quarter witnessed increased business and government activities after a slow start to the year but was affected by insecurity across parts of the country and the impact of the ongoing conflict between the United States and Iran in the Middle East.

Ajayi-Kadir reported that the association advocated the recapitalisation of the Bank of Industry, the creation of additional concessionary lending windows for manufacturers, lower import costs for industrial machinery and essential raw materials, and long-term development finance to support investment and expansion.

He expressed concern over the continued decline in credit to manufacturers, warning that industrialisation would remain constrained if productive enterprises could not access affordable financing.

He also reaffirmed MAN’s support for tax reforms that modernise tax administration and improve revenue generation but opposed the retroactive application of the 2025 Nigeria Tax Laws, noting, “Our position remains unchanged. We support reforms that modernise tax administration, improve revenue mobilisation, and strengthen fiscal sustainability. At the same time, successful reform depends on transparent implementation, predictable policies, and continuous stakeholder engagement.”

The MAN DG further urged the Federal Government to address the unresolved foreign exchange forward obligations owed to some manufacturers, describing the issue as a breach of valid contracts that had continued to weaken the financial position of affected companies.

He said the association also intensified advocacy for greater local raw material utilisation through collaboration with the Raw Materials Research and Development Council and the Nigeria Customs Service to deepen backward integration and reduce dependence on imported industrial inputs.

Ajayi-Kadir added that MAN remained optimistic that continued collaboration between the government and the private sector would strengthen ongoing economic reforms and support Nigeria’s industrial transformation.

Wema Bank has reported measurable growth over the last decade, growing its assets 13-fold over the period.

According to The PUNCH’s findings, the size of the lender’s assets have jumped 1,185 per cent to N5.23tn between the first quarter (Q1) of 2016 and the corresponding period of 2026.

The monetary value of Wema Bank’s asset size rose from N407bn in 2016 to N5.23tn in 2023.

The sharp increase in asset size over the 10-year period means Wema Bank now manages more than 13 times the resources it held a decade ago, significantly strengthening its financial capacity.

The expansion has important implications for the lender’s operations and the broader economy.

A larger asset base gives Wema Bank greater capacity to extend credit to households and businesses, finance infrastructure and corporate projects, absorb economic shocks, and comply with tighter regulatory capital requirements. It also enhances the bank’s competitiveness against larger rivals, improves its ability to attract investors, and provides a stronger platform for future expansion.

Analysts say the sustained growth underscores the success of the bank’s digital-first strategy, anchored by its ALAT platform, as well as its “focus on retail banking, small and medium-sized enterprises, and prudent balance sheet management,” said a Lagos-based financial expert, Kabby Umunna.

The Guaranty Trust Holding Company Plc (“GTCO”) has announced full plans for its 16th Annual Autism Conference scheduled to hold on Monday, July 27th and Tuesday, July 28th, at the Muson Centre, Lagos. Themed “Acceptance in Action: From Family to Classroom to Workplace to Public Spaces,” the Conference, which will be followed by one-on-one family consultations by specialists, continues the Group’s commitment to advocating for Autism through access to developmental support, professional guidance, and learning opportunities for individuals on the autism spectrum and their families.

Over the years, the GTCO Autism Programme has become a leading platform for Autism advocacy and inclusion across West Africa, bringing together healthcare professionals, therapists, educators, policymakers, caregivers, and families to foster greater understanding of Autism Spectrum Disorders (ASDs). Through sustained engagement and collaboration, the programme has helped advance conversations around acceptance, accessibility, and the support systems required to improve outcomes for individuals on the spectrum.

This year’s theme, “Acceptance in Action,” reflects the need to move beyond awareness towards creating environments where individuals on the Autism spectrum are supported, and empowered at home, in school, in workplace, and public spaces. The 2026 programme will feature expert-led discussions, workshops, and free consultation sessions delivered by leading local and international specialists in developmental and behavioural sciences, covering key areas such as early intervention, behavioural therapy, communication strategies, inclusive education, and caregiver support.

In Nigeria, the conference will hold on Monday, July 27th and Tuesday, July 28th at the Muson Centre, Lagos, followed by free one-on-one family consultations with medical and developmental specialists from July 29th to August 1st at the Adeyemi Bero Auditorium, Alausa Secretariat, Ikeja. In Ghana, the programme will open with a workshop on August 4th at the University of Professional Studies, Accra, followed by free consultations at the same venue from August 5th to 8th.

Commenting on the 2026 GTCO Autism Programme, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr Segun Agbaje, said: “Sixteen years ago, we set out to help families navigate a journey that too often felt isolating. Today, this programme stands as proof of what sustained commitment can achieve. This year’s theme, ‘Acceptance in Action,’ challenges all of us to move past good intentions and start making inclusion visible, in the way we design our schools, structure our workplaces, and welcome one another in public spaces.”

He added: “No single institution can build an inclusive society alone. It takes families willing to advocate, educators willing to adapt, employers willing to open doors, and policymakers willing to act. Our role is to keep bringing the right expertise and resources to the table, so that every individual on the autism spectrum has a genuine chance to participate fully and confidently in everyday life.”

In a patriotic gesture to minimize petroleum price shock in the domestic market,

Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit (PMS) or petrol in naira, providing a measure of relief to marketers and consumers.

The Gantry price is fixed at N1,215/ litre.

Following a week of economic uncertainty owing to Dangote’s decision to load fuel in dollars, the refinery has fixed its new ex-depot (gantry) price to Naira, albeit at a higher cost.

The new price was revised to N1,215 per litre, representing an increase of N140 per litre, or 13.02 per cent, from the previous price of N1,075 per litre.

“Dangote Petroleum Refinery has resumed the sale of Premium Motor Spirit (PMS) in naira, providing a measure of relief to marketers and consumers,” a statement released on Wednesday read

“The gantry price is fixed at N1,215/ litre,” it added”.

After notifying clients of the new conditions on Tuesday, the refinery resumed the acceptance of orders for coastal loading.

Following an extended period of uncertainty within the downstream petroleum market due to the suspension of fuel sale in naira, which compelled several independent marketers to procure supplies from private depots, the refinery has reinstated naira-denominated pricing for truck loading.

Under the dollar pricing system Automotive Gas Oil (diesel) was set to cost $1.087 per litre, while Aviation Turbine Kerosene (ATK) was priced at $0.942 per litre. Petrol delivered via coastal deliveries was tagged at $1,044.62 per metric tonne.

At the time, the refinery notified marketers and customers that all previously issued naira-denominated Proforma Invoices and Deal Recaps for gantry and coastal transactions were no longer legitimate.

The notice, signed by the refinery’s Group Commercial Operations, read, “Following our email on the 9th of July, 2026, regarding the transition from Naira to United States Dollars, please note that all issued Naira Coastal and Gantry PFIs/Deal Recaps are now invalid, and no payments should be made against them.

Meanwhile, Nigeria’s petrol imports more than tripled last month as the country’s main refinery cut domestic supply and increasingly directed output toward export markets to maximize foreign-currency earnings.

Nigeria shipped in 18.1 million liters of the fuel per day in June, compared with 5.6 million liters in May, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NUPRC) said in a monthly report.

The Dangote Petroleum Refinery increasingly directs output to export markets to maximize foreign currency earnings. Selling products in naira domestically limits the U.S. dollars required to purchase international crude oil feedstock, driving the refinery to prioritize lucrative European and African exports.

According to figures in June, the refinery exported 466,000 metric tonnes of aviation fuel, overtaking the United States as Europe’s largest external supplier of jet fuel.

The facility has expanded its footprint across the continent, successfully exporting cargoes to countries like Côte d’Ivoire, Cameroon, Tanzania, Ghana, and Togo.

The plant’s domestic allocation under the local naira-for-crude agreement has significantly declined.

As a result, the refinery must source a greater share of its feedstock from the international market, which must be paid for in dollars.

Because the refinery struggles to convert naira revenue into the necessary foreign exchange to buy raw crude, it relies heavily on export markets to sustain its operations. Consequently, Nigeria’s domestic petrol imports have recently surged as the refinery reduces local supply according to Bloomberg.