Nigeria: Financial institutions development, depth

* indicates monthly or quarterly data series
 Nigeria

Financial institutions development, depth

 Latest value 0.074
 Year 2021
 Measure index points
 Data availability 1980 - 2021
 Average 0.048
 Min - Max 0.031 - 0.075
 Source International Monetary Fund
For that indicator, we provide data for Nigeria from 1980 to 2021. The average value for Nigeria during that period was 0.048 index points with a minimum of 0.031 index points in 1989 and a maximum of 0.075 index points in 2020. The latest value from 2021 is 0.074 index points. For comparison, the world average in 2021 based on 175 countries is 0.291 index points. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent values chart
Nigeria - Financial institutions development, depth - Recent values chart

Historical chart
Nigeria - Financial institutions development, depth - historical chart - 1980-2021




Definition: Measures the development of financial institutions in terms of depth. Constructed as a principal component of the following variables: Private-sector credit to GDP; Pension fund assets to GDP; Mutual fund assets to GDP; and Insurance premiums, life and non-life, to GDP. See Svirydzenka, Katsiaryna (IMF, 2016) for more detail.


 Related indicators Latest value Reference Measure
 Financial development 0.221 2021 index points
 Financial institutions development 0.236 2021 index points
 Financial institutions development, depth 0.074 2021 index points
 Financial institutions development, access 0.121 2021 index points
 Financial institutions development, efficiency 0.561 2021 index points
 Financial markets development 0.197 2021 index points
 Financial markets development, depth 0.069 2021 index points
 Financial markets development, access 0.483 2021 index points
 Financial markets development, efficiency 0.054 2021 index points
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