Commercial bank branches in Nigeria
Nigeria: Commercial bank branches was 3.28 per 100,000 adults in 2024. ▼ Falling
Commercial bank branches in Nigeria, 2004–2024
Source: Financial Access Survey, International Monetary Fund (IMF). Measured in per 100,000 adults.
Analysis
In 2024, commercial bank branches in Nigeria stood at 3.28 per 100,000 adults. That is the lowest value across all 21 years on record.
That represents a change of down 4.3% on the previous year and down 38.6% over ten years.
Over the whole period, commercial bank branches in Nigeria peaked at 6.29 per 100,000 adults in 2010 and was at its lowest, 3.28 per 100,000 adults, in 2024.
Nigeria ranks 161st of 185 countries on this measure, in the bottom quarter.
The long-run direction has been consistently falling across the 21 years of available data.
Commercial bank branches in Nigeria, year by year
| Year | per 100,000 adults | Change |
|---|---|---|
| 2004 | 4.53 per 100,000 adults | — |
| 2005 | 4.02 per 100,000 adults | -11.1% |
| 2006 | 3.63 per 100,000 adults | -9.7% |
| 2007 | 5 per 100,000 adults | +37.6% |
| 2008 | 6.01 per 100,000 adults | +20.2% |
| 2009 | 6.21 per 100,000 adults | +3.4% |
| 2010 | 6.29 per 100,000 adults | +1.2% |
| 2011 | 6.12 per 100,000 adults | -2.6% |
| 2012 | 5.55 per 100,000 adults | -9.4% |
| 2013 | 5.63 per 100,000 adults | +1.4% |
| 2014 | 5.34 per 100,000 adults | -5.1% |
| 2015 | 4.75 per 100,000 adults | -11.1% |
| 2016 | 4.51 per 100,000 adults | -4.9% |
| 2017 | 4.22 per 100,000 adults | -6.5% |
| 2018 | 4.09 per 100,000 adults | -3.1% |
| 2019 | 4.55 per 100,000 adults | +11.3% |
| 2020 | 4.23 per 100,000 adults | -7.0% |
| 2021 | 4.08 per 100,000 adults | -3.7% |
| 2022 | 3.51 per 100,000 adults | -13.9% |
| 2023 | 3.43 per 100,000 adults | -2.3% |
| 2024 | 3.28 per 100,000 adults | -4.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 4.9 per 100,000 adults | 3.63 per 100,000 adults | 6.21 per 100,000 adults | 6 |
| 2010s | 5.1 per 100,000 adults | 4.09 per 100,000 adults | 6.29 per 100,000 adults | 10 |
| 2020s | 3.71 per 100,000 adults | 3.28 per 100,000 adults | 4.23 per 100,000 adults | 5 |
Countries ranked near Nigeria
More financial sector data for Nigeria
- Total reserves in months of imports, annual growth rate -1.26 % change on previous year (2025)
- Total reserves in months of imports, per unit of GDP 0 units per US$ of GDP (2025)
- Total reserves in months of imports, per capita 0 units per person (2025)
- Reserves excluding gold, foreign exchange (SDR), annual growth rate 6.98 % change on previous year (2025)
- Reserves excluding gold, foreign exchange (SDR), per unit of GDP 0.0966 SDR per US$ of GDP (2025)
- Reserves excluding gold, foreign exchange (SDR), per capita 118.25 SDR per person (2025)
- Reserves excluding gold (SDR), annual growth rate 6.08 % change on previous year (2025)
- Reserves excluding gold (SDR), per capita 132.23 SDR per person (2025)
- Total reserves (gold at market value) (SDR), annual growth rate 8.47 % change on previous year (2025)
- Total reserves (gold at market value) (SDR), per capita 141.49 SDR per person (2025)
Frequently asked questions
- What is commercial bank branches in Nigeria?
- Commercial bank branches in Nigeria was 3.28 per 100,000 adults in 2024, according to Financial Access Survey, International Monetary Fund (IMF).
- What is the highest commercial bank branches recorded in Nigeria?
- The highest recorded value was 6.29 per 100,000 adults in 2010.
- What is the lowest commercial bank branches recorded in Nigeria?
- The lowest recorded value was 3.28 per 100,000 adults in 2024.
- How does Nigeria rank for commercial bank branches?
- Nigeria ranks 161st out of 185 countries with data for 2024.
- Is commercial bank branches rising or falling in Nigeria?
- Over the last ten years it is down 38.6%. The long-run trend across the full record is falling.
- Where does this Nigeria data come from?
- The figures come from Financial Access Survey, International Monetary Fund (IMF), published as part of Commercial bank branches (per 100,000 adults). Statizoid updates them automatically from the source API.
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About this data
Commercial bank branches are retail locations of resident commercial banks and other resident banks that function as commercial banks that provide financial services to customers and are physically separated from the main office but not organized as legally separated subsidiaries.