Demand for Nigeria housing loans increased in the second quarter of 2026, as more households sought credit to purchase homes and access mortgage financing, according to the Central Bank of Nigeria.
According to Vanguard, the CBN disclosed the trend in its Credit Conditions Survey Report for Q2 2026, which showed that lenders recorded increased demand across several categories of secured and corporate credit during the period.
The report showed that credit for house purchases rose to 9.6 index points, while mortgage and re-mortgage lending to households increased to 13.3 points.
Nigeria housing loans rise as consumer credit expands
The CBN said overall demand for secured lending reached 15.1 index points, while corporate lending stood at 15.2 points.
“Consumer loans to households increased (11.2), credit for house purchase to households increased (9.6), lending for small businesses to households increased (26.4),” the report stated.
It added: “Mortgage/re-mortgage lending from households increased (13.3).”
The figures suggest that lenders experienced stronger demand from households looking to finance property purchases, while borrowing for small businesses recorded an even sharper increase.
Unsecured lending remains weak
Despite the growth recorded in housing and other secured credit, demand for unsecured lending remained subdued at -1.2 index points.
The CBN said overdrafts and personal loans to households increased to 7.9 points, while credit card lending declined to -2.0 points during the quarter.
Corporate borrowers also recorded stronger credit demand.
Lending to small businesses rose to 26.5 index points, while credit to medium private non-financial corporations increased to 25.5 points. Lending to large private non-financial corporations also grew to 8.9 points.
However, credit to other financial corporations remained unchanged at 0.0 index point.
Lenders report fewer defaults
The survey also showed an improvement in loan repayment during the quarter.
“Lenders reported a decline in default rates across secured and unsecured lending, as well as across all corporate lending categories,” the CBN said.
The decline covered lending to small businesses, medium and large private non-financial corporations and other financial institutions.
The combination of stronger demand for housing credit and lower reported default rates points to increased borrowing activity across several areas of the economy during the second quarter.
