Borrowing charges in Nigeria are projected to ease steadily over the following six months, supported by expectations of a stronger naira in opposition to the USA greenback.
That is in line with the Central Bank of Nigeria (CBN) Enterprise Expectations Survey (BES) for December 2025.
The report captures the views of enterprise leaders throughout key sectors of the Nigerian economic system.
The survey displays rising optimism round trade fee stability and bettering credit score situations within the close to to medium time period.
What the report is saying
The information means that as confidence within the naira improves, companies are additionally anticipating a gradual discount in borrowing prices, though broader structural challenges proceed to weigh on total financial efficiency.
The CBN’s survey exhibits a gradual enchancment in expectations for the naira’s efficiency in opposition to the US greenback over the overview durations.
The trade fee expectation index stood at 26.6 for the present month, rose to twenty-eight.8 within the subsequent month, elevated additional to 36.4 within the subsequent three months, and climbed to 39.7 within the subsequent six months, indicating rising confidence in forex stability.
Equally, expectations round borrowing charges level to a gradual easing of credit score situations.
The borrowing fee expectation index was 15.6 within the present month, declining to 14.7 within the subsequent month, 11.5 within the subsequent three months, and 9.9 within the subsequent six months.
Based on the CBN, “respondents count on the naira to US greenback trade fee to steadily recognize throughout overview month durations, as indicated by optimistic indices. Additionally, they anticipate steady optimistic outlook for the borrowing fee throughout the identical durations.”
Extra context behind the numbers
Analysts attribute the bettering outlook to tighter financial administration, ongoing international trade reforms, higher greenback liquidity, and elevated confidence following latest coverage changes by the apex bank.
Nonetheless, the survey additionally highlights persistent challenges in the true sector. Common capability utilisation throughout sectors stood at 49.8% in December 2025, suggesting that many companies are nonetheless working under optimum ranges regardless of bettering macroeconomic expectations.
The CBN famous that structural constraints similar to infrastructure deficits, excessive taxation, and restricted entry to inexpensive credit score proceed to cap the tempo at which improved expectations can translate into precise financial growth.
What it’s best to know
Nairametrics reviews that the naira weakened barely to N1,431 per greenback on the official international trade market on the primary buying and selling day of 2026.
The depreciation comes because the FX market reopened after the New Yr vacation, with early indicators of cautious sentiment resurfacing amongst market individuals.
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