Financial Development Index in Nigeria
Nigeria: Financial Development Index was 0.2225 in 2020. β² Rising
Financial Development Index in Nigeria, 1980β2020
Source: International Monetary Fund.
Analysis
The most recent figure for financial development index in Nigeria is 0.2225, measured in 2020.
The figure is down 1.4% on the previous year and up 9.5% over ten years.
Over the whole period, financial development index in Nigeria peaked at 0.2701 in 2008 and was at its lowest, 0.1215, in 1991.
Nigeria ranks 102nd of 183 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 41 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 0.1649 | 0.1366 | 0.1855 | 10 |
| 1990s | 0.1534 | 0.1215 | 0.186 | 10 |
| 2000s | 0.2016 | 0.17 | 0.2701 | 10 |
| 2010s | 0.2146 | 0.1921 | 0.2257 | 10 |
| 2020s | 0.2225 | 0.2225 | 0.2225 | 1 |
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)
- Domestic credit to private sector by banks 13.1% (2023)
Frequently asked questions
- What is financial development index in Nigeria?
- Financial development index in Nigeria was 0.2225 in 2020, according to International Monetary Fund.
- What is the highest financial development index recorded in Nigeria?
- The highest recorded value was 0.2701 in 2008.
- What is the lowest financial development index recorded in Nigeria?
- The lowest recorded value was 0.1215 in 1991.
- How does Nigeria rank for financial development index?
- Nigeria ranks 102nd out of 183 countries with data for 2020.
- Is financial development index rising or falling in Nigeria?
- Over the last ten years it is up 9.5%. The long-run trend across the full record is rising.
- Where does this Nigeria data come from?
- The figures come from International Monetary Fund, published as part of Financial Development Index. Statizoid updates them automatically from the source API.
Download this data
CSV Β· JSON β 41 observations, free to reuse under IMF Terms and Conditions (attribution required).
About this data
The dataset contains nine indices that summarize how developed financial institutions and financial markets are in terms of their depth, access, and efficiency. These indices are aggregated into an overall index of financial development. With the coverage of over 180 countries on annual frequency from 1980 onwards, the database should offer a useful analytical tool for researchers and policy makers.