Bank credit to bank deposits in Nigeria
Nigeria: Bank credit to bank deposits was 56.0% in 2021. ▼ Falling
Bank credit to bank deposits in Nigeria, 1960–2021
Source: International Financial Statistics (IFS), International Monetary Fund (IMF). Measured in %.
Analysis
In 2021, bank credit to bank deposits in Nigeria stood at 56.0%.
Compared with earlier readings it is up 3.9% on the previous year and down 8.1% over ten years.
Over the whole period, bank credit to bank deposits in Nigeria peaked at 116.9% in 1967 and was at its lowest, 51.2%, in 1976.
That places Nigeria 147th out of 186 countries with data for 2021, putting it in the bottom quarter.
The long-run direction has been consistently falling across the 62 years of available data.
Bank credit to bank deposits in Nigeria, year by year
| Year | % | Change |
|---|---|---|
| 1960 | 80.5% | — |
| 1961 | 76.9% | -4.6% |
| 1962 | 102.2% | +32.9% |
| 1963 | 109.3% | +7.0% |
| 1964 | 108.0% | -1.2% |
| 1965 | 104.0% | -3.7% |
| 1966 | 105.0% | +1.0% |
| 1967 | 116.9% | +11.3% |
| 1968 | 67.9% | -41.9% |
| 1969 | 58.3% | -14.2% |
| 1970 | 55.3% | -5.1% |
| 1971 | 75.8% | +37.0% |
| 1972 | 75.7% | -0.0% |
| 1973 | 83.5% | +10.2% |
| 1974 | 58.3% | -30.2% |
| 1975 | 54.7% | -6.2% |
| 1976 | 51.2% | -6.4% |
| 1977 | 57.6% | +12.4% |
| 1978 | 78.0% | +35.5% |
| 1979 | 64.5% | -17.3% |
| 1980 | 63.1% | -2.2% |
| 1981 | 78.2% | +24.0% |
| 1982 | 82.0% | +4.9% |
| 1983 | 73.0% | -11.0% |
| 1984 | 68.3% | -6.5% |
| 1985 | 68.9% | +1.0% |
| 1986 | 87.0% | +26.2% |
| 1987 | 74.0% | -15.0% |
| 1988 | 70.7% | -4.5% |
| 1989 | 79.1% | +11.9% |
| 1990 | 64.4% | -18.6% |
| 1991 | 58.3% | -9.5% |
| 1992 | 85.7% | +47.1% |
| 1993 | 67.3% | -21.5% |
| 1994 | 86.8% | +29.0% |
| 1995 | 102.2% | +17.8% |
| 1996 | 105.3% | +3.0% |
| 1997 | 108.2% | +2.8% |
| 1998 | 104.7% | -3.2% |
| 1999 | 87.8% | -16.1% |
| 2000 | 78.1% | -11.1% |
| 2001 | 84.7% | +8.5% |
| 2002 | 79.7% | -6.0% |
| 2003 | 89.1% | +11.9% |
| 2004 | 91.6% | +2.8% |
| 2005 | 95.4% | +4.1% |
| 2006 | 86.3% | -9.5% |
| 2007 | 100.6% | +16.5% |
| 2008 | 103.4% | +2.8% |
| 2009 | 92.0% | -11.0% |
| 2010 | 73.3% | -20.3% |
| 2011 | 61.0% | -16.8% |
| 2012 | 56.6% | -7.2% |
| 2013 | 60.1% | +6.2% |
| 2014 | 71.9% | +19.6% |
| 2015 | 74.1% | +3.1% |
| 2016 | 83.8% | +13.0% |
| 2017 | 77.4% | -7.6% |
| 2018 | 62.0% | -19.8% |
| 2019 | 63.4% | +2.1% |
| 2020 | 53.9% | -14.9% |
| 2021 | 56.0% | +3.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 92.9% | 58.3% | 116.9% | 10 |
| 1970s | 65.5% | 51.2% | 83.5% | 10 |
| 1980s | 74.4% | 63.1% | 87.0% | 10 |
| 1990s | 87.1% | 58.3% | 108.2% | 10 |
| 2000s | 90.1% | 78.1% | 103.4% | 10 |
| 2010s | 68.3% | 56.6% | 83.8% | 10 |
| 2020s | 54.9% | 53.9% | 56.0% | 2 |
Countries ranked near Nigeria
- 144 Greece 57.1% compare
- 145 Saint Kitts and Nevis 56.7% compare
- 146 Dominica 56.5% compare
- 148 Syrian Arab Republic 55.4% compare
- 149 Palestine, State of 55.4% compare
- 150 Malta 54.9% compare
More financial sector data for Nigeria
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0008 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 1.01 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0006 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 0.7387 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0008 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 1.01 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (2025)
Frequently asked questions
- What is bank credit to bank deposits in Nigeria?
- Bank credit to bank deposits in Nigeria was 56.0% in 2021, according to International Financial Statistics (IFS), International Monetary Fund (IMF).
- What is the highest bank credit to bank deposits recorded in Nigeria?
- The highest recorded value was 116.9% in 1967.
- What is the lowest bank credit to bank deposits recorded in Nigeria?
- The lowest recorded value was 51.2% in 1976.
- How does Nigeria rank for bank credit to bank deposits?
- Nigeria ranks 147th out of 186 countries with data for 2021.
- Is bank credit to bank deposits rising or falling in Nigeria?
- Over the last ten years it is down 8.1%. The long-run trend across the full record is falling.
- Where does this Nigeria data come from?
- The figures come from International Financial Statistics (IFS), International Monetary Fund (IMF), published as part of Bank credit to bank deposits (%). Statizoid updates them automatically from the source API.
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About this data
Raw data are from the electronic version of the IMF’s International Financial Statistics. Private credit by deposit money banks (IFS line 22d); bank deposits (IFS lines 24 and 25).