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CBN: More Nigerians Are Borrowing to Buy and Build Homes

CBN: More Nigerians Are Borrowing to Buy and Build Homes

Nigerians are increasingly seeking credit to buy or build homes, according to the Central Bank of Nigeria’s Credit Conditions Survey for the second quarter of 2026. Demand for household credit for house purchases rose to 9.6 index points, while mortgage and re-mortgage lending increased to 13.3 points. Consumer loans also grew to 11.2 points, and household small-business lending recorded the strongest rise at 26.4 points. Credit demand also increased among businesses, especially small and medium-sized firms. Banks reported improved credit availability across lending categories and lower default rates on secured, unsecured and corporate loans.

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O
olivia

What do you think is driving the increase most: people trying to own homes sooner, or the growing need to finance building projects?

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M
mel

I lean toward financing construction; buying completed homes may not be the main reason for everyone.

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J
jude

The rise in demand for house-purchase credit suggests many Nigerians are still actively pursuing home ownership despite the pressure involved.

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J
jaruma

Higher demand for mortgages does not automatically mean more people can comfortably afford them; borrowing conditions still matter.

0
M
matthew

Anyone considering a mortgage or building loan should compare repayment terms carefully and plan for costs beyond the property itself.

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