Nigeria: Financial freedom

* indicates monthly or quarterly data series
 Nigeria

Financial freedom index (0-100)

 Latest value 40
 Year 2023
 Measure points
 Data availability 1995 - 2023
 Average 37
 Min - Max 30 - 50
 Source The Heritage Foundation
For that indicator, we provide data for Nigeria from 1995 to 2023. The average value for Nigeria during that period was 37 points with a minimum of 30 points in 1996 and a maximum of 50 points in 1995. The latest value from 2023 is 40 points. For comparison, the world average in 2023 based on 175 countries is 49 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 freedom - recent values

Historical chart
Nigeria - Financial freedom - historical chart - 1995-2023




The Financial Freedom index for Nigeria from The Heritage Foundation measures the efficiency of the banking system and the interventions of the government into the financial system. A higher score means more efficient banking institutions and less government intervention.
Definition: The Financial freedom index evaluates: the extent of government regulation of financial services, the degree of state intervention in banks and other financial firms through direct and indirect ownership, the extent of financial and capital market development, government influence on the allocation of credit and openness to foreign competition. Higher index values denote banking efficiency and independence from government control and interference in the financial sector.


 Related indicators Latest value Reference Measure
 Property rights 24 2023 points
 Freedom from corruption 23 2023 points
 Fiscal freedom 50 2023 points
 Business freedom 44 2023 points
 Labor freedom 74 2023 points
 Monetary freedom 65.00 2023 points
 Trade freedom 68 2023 points
 Investment freedom 45 2023 points
 Financial freedom 40 2023 points
 Economic freedom, overall index 54 2023 index points
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