Entrepreneurial growth in Nigeria is influenced by how much credit commercial banks give to private businesses. A study from 1986 to 2018 showed that private sector credit significantly impacts entrepreneurial growth. To help entrepreneurs, banks should reduce their lending fees, which are currently very high at 22 percent. This high cost makes it hard for entrepreneurs to get loans, forcing them to seek funding from other sources like co-operative societies. The Central Bank of Nigeria should also lower the monetary policy rate to 9 percent from the current 14 percent, which could encourage banks to lower their fees for lending to entrepreneurs.