Nigeria: Domestic credit to the private sector
* indicates monthly or quarterly data series
| Nigeria |
Domestic credit to the private sector, percent of GDP |
|---|---|
| Latest value | 12.13 |
| Year | 2020 |
| Measure | percent |
| Data availability | 1960 - 2020 |
| Average | 8.49 |
| Min - Max | 3.70 - 19.63 |
| Source | The World Bank |
The latest value from 2020 is 12.13 percent, an increase from 11.16 percent in 2019. In comparison, the world average is 61.27 percent, based on data from 151 countries. Historically, the average for Nigeria from 1960 to 2020 is 8.49 percent. The minimum value, 3.7 percent, was reached in 1960 while the maximum of 19.63 percent was recorded in 2009.
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Definition: Domestic credit to private sector refers to financial resources provided to the private sector, such as through loans, purchases of nonequity securities, and trade credits and other accounts receivable, that establish a claim for repayment. For some countries these claims include credit to public enterprises.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| ATMs per 100,000 adults | 16.15 | 2021 | ATMs per 100,000 adults |
| Bank accounts per 1000 adults | 1,310.39 | 2020 | bank accounts |
| Bank branches per 100,000 people | 4.45 | 2020 | bank branches |
| Firms using credit to finance investment | 6.90 | 2014 | percent |
| Small firms with bank credit | 12.00 | 2014 | percent |
| Percent people with credit cards | 1.61 | 2021 | percent |
| Percent people with debit cards | 35.33 | 2021 | percent |
| Domestic credit to the private sector | 12.13 | 2020 | percent |
| Bank credit to the private sector | 12.91 | 2022 | percent |
| Liquid liabilities, percent of GDP | 24.89 | 2021 | percent |
| Bank assets to GDP | 16.40 | 2021 | percent |
| Financial system deposits, percent of GDP | 21.83 | 2021 | percent |
| Bank credit to government | 4.24 | 2020 | percent |
| Banking system concentration | 59.32 | 2021 | percent |
| Foreign bank assets | 19.00 | 2013 | percent of total bank assets |
| Percent people with bank accounts | 45.14 | 2021 | percent |