Borrowers from commercial banks in Nigeria
Nigeria: Borrowers from commercial banks was 31.08 per 1,000 adults in 2024. ▲ Rising
Borrowers from commercial banks in Nigeria, 2008–2024
Source: Financial Access Survey, International Monetary Fund (IMF). Measured in per 1,000 adults.
Analysis
Nigeria recorded 31.08 per 1,000 adults for borrowers from commercial banks in 2024.
That represents a change of down 17.0% on the previous year and up 5.0% over ten years.
Over the whole period, borrowers from commercial banks in Nigeria peaked at 37.46 per 1,000 adults in 2023 and was at its lowest, 17.64 per 1,000 adults, in 2018.
That places Nigeria 96th out of 113 countries with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 17 years of available data.
Borrowers from commercial banks in Nigeria, year by year
| Year | per 1,000 adults | Change |
|---|---|---|
| 2008 | 25.27 per 1,000 adults | — |
| 2009 | 28.22 per 1,000 adults | +11.7% |
| 2010 | 29.33 per 1,000 adults | +3.9% |
| 2011 | 26.23 per 1,000 adults | -10.6% |
| 2012 | 29.27 per 1,000 adults | +11.6% |
| 2013 | 25.25 per 1,000 adults | -13.7% |
| 2014 | 29.6 per 1,000 adults | +17.3% |
| 2015 | 28.48 per 1,000 adults | -3.8% |
| 2016 | 22.67 per 1,000 adults | -20.4% |
| 2017 | 20.72 per 1,000 adults | -8.6% |
| 2018 | 17.64 per 1,000 adults | -14.9% |
| 2019 | 24.19 per 1,000 adults | +37.1% |
| 2020 | 28.19 per 1,000 adults | +16.5% |
| 2021 | 33.81 per 1,000 adults | +19.9% |
| 2022 | 32.41 per 1,000 adults | -4.1% |
| 2023 | 37.46 per 1,000 adults | +15.6% |
| 2024 | 31.08 per 1,000 adults | -17.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 26.74 per 1,000 adults | 25.27 per 1,000 adults | 28.22 per 1,000 adults | 2 |
| 2010s | 25.34 per 1,000 adults | 17.64 per 1,000 adults | 29.6 per 1,000 adults | 10 |
| 2020s | 32.59 per 1,000 adults | 28.19 per 1,000 adults | 37.46 per 1,000 adults | 5 |
Countries ranked near Nigeria
More financial sector data for Nigeria
- Net domestic credit (current LCU), per capita 296,323 current LCU per person (2022)
- Net domestic credit (current LCU), per unit of GDP 102.21 current LCU per US$ of GDP (2022)
- Net domestic credit (current LCU), annual growth rate 35.83 % change on previous year (2022)
- Gold reserves at 35 SDRs per ounce 24.13 million SDR (2025)
- Gold reserves at market value 2.20 billion SDR (2025)
- Reserves excluding gold, foreign exchange 28.09 billion SDR (2025)
- Reserves excluding gold 31.41 billion SDR (2025)
- Total reserves (gold at market value) 33.61 billion SDR (2025)
- Total reserves (gold at national valuation) 33.58 billion SDR (2025)
- Total reserves (gold at national valuation) (SDR), per capita 141.38 SDR per person (2025)
Frequently asked questions
- What is borrowers from commercial banks in Nigeria?
- Borrowers from commercial banks in Nigeria was 31.08 per 1,000 adults in 2024, according to Financial Access Survey, International Monetary Fund (IMF).
- What is the highest borrowers from commercial banks recorded in Nigeria?
- The highest recorded value was 37.46 per 1,000 adults in 2023.
- What is the lowest borrowers from commercial banks recorded in Nigeria?
- The lowest recorded value was 17.64 per 1,000 adults in 2018.
- How does Nigeria rank for borrowers from commercial banks?
- Nigeria ranks 96th out of 113 countries with data for 2024.
- Is borrowers from commercial banks rising or falling in Nigeria?
- Over the last ten years it is up 5.0%. The long-run trend across the full record is rising.
- Where does this Nigeria data come from?
- The figures come from Financial Access Survey, International Monetary Fund (IMF), published as part of Borrowers from commercial banks (per 1,000 adults). Statizoid updates them automatically from the source API.
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About this data
Borrowers from commercial banks are the reported number of resident customers that are nonfinancial corporations (public and private) and households who obtained loans from commercial banks and other banks functioning as commercial banks.