Nine leading Nigerian banks have reported a combined interest expense of N1.9 trillion in the first quarter of 2025, marking a sharp 43.2% increase from the N1.33 trillion recorded in the same period last year.
This development, based on an analysis of the banks’ unaudited financial statements, signals growing funding pressures in Nigeria’s financial sector, even as total interest income from the lenders rose to N4.18 trillion within the same period.