Nigeria: Financial development

The latest value from 2021 is 0.221 index points, a decline from 0.224 index points in 2020. In comparison, the world average is 0.331 index points, based on data from 178 countries. Historically, the average for Nigeria from 1980 to 2021 is 0.187 index points. The minimum value, 0.123 index points, was reached in 1991 while the maximum of 0.273 index points was recorded in 2008. See the global rankings for that indicator or use the country comparator to compare trends over time.

Definition: An index for overall financial development based on the two subindexes for financial institutions development and financial markets development. See the indicator menu and Svirydzenka, Katsiaryna (IMF, 2016) for more detail.