Nigeria: Financial institutions development, efficiency

The latest value from 2021 is 0.561 index points, a decline from 0.581 index points in 2020. In comparison, the world average is 0.585 index points, based on data from 178 countries. Historically, the average for Nigeria from 1980 to 2021 is 0.516 index points. The minimum value, 0.384 index points, was reached in 2010 while the maximum of 0.669 index points was recorded in 1985. See the global rankings for that indicator or use the country comparator to compare trends over time.

Definition: Measures the efficiency of financial institutions. Constructed using the Principal Component methodology using the following variables: Net interest margin, Lending-deposits spread, Non-interest income to total income, Overhead costs to total assets, Return on assets, and Return on equity. See Svirydzenka, Katsiaryna (IMF, 2016) for more detail.