Financial Institutions Access Index in Nigeria
Nigeria: Financial Institutions Access Index was 0.1218 in 2020. ▲ Rising
Financial Institutions Access Index in Nigeria, 1980–2020
Source: International Monetary Fund.
Analysis
The most recent figure for financial institutions access index in Nigeria is 0.1218, measured in 2020.
Compared with earlier readings it is down 6.5% on the previous year and down 1.6% over ten years.
Over the whole period, financial institutions access index in Nigeria peaked at 0.1351 in 2014 and was at its lowest, 0.0449, in 1990.
That places Nigeria 140th out of 183 countries with data for 2020, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 41 years of available data.
Financial Institutions Access Index in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 1980 | 0.0574 | — |
| 1981 | 0.0571 | -0.6% |
| 1982 | 0.0601 | +5.4% |
| 1983 | 0.0527 | -12.3% |
| 1984 | 0.062 | +17.7% |
| 1985 | 0.0609 | -1.8% |
| 1986 | 0.0678 | +11.4% |
| 1987 | 0.0585 | -13.7% |
| 1988 | 0.0559 | -4.4% |
| 1989 | 0.0473 | -15.5% |
| 1990 | 0.0449 | -5.1% |
| 1991 | 0.0449 | +0.1% |
| 1992 | 0.0582 | +29.5% |
| 1993 | 0.0513 | -11.9% |
| 1994 | 0.0504 | -1.8% |
| 1995 | 0.0529 | +5.0% |
| 1996 | 0.0508 | -3.9% |
| 1997 | 0.0501 | -1.5% |
| 1998 | 0.0503 | +0.4% |
| 1999 | 0.0571 | +13.6% |
| 2000 | 0.0516 | -9.7% |
| 2001 | 0.0547 | +5.9% |
| 2002 | 0.0537 | -1.8% |
| 2003 | 0.0552 | +2.8% |
| 2004 | 0.0564 | +2.1% |
| 2005 | 0.0501 | -11.1% |
| 2006 | 0.0505 | +0.8% |
| 2007 | 0.0786 | +55.6% |
| 2008 | 0.109 | +38.7% |
| 2009 | 0.124 | +13.7% |
| 2010 | 0.1238 | -0.1% |
| 2011 | 0.1253 | +1.2% |
| 2012 | 0.1166 | -6.9% |
| 2013 | 0.1256 | +7.8% |
| 2014 | 0.1351 | +7.5% |
| 2015 | 0.1281 | -5.2% |
| 2016 | 0.1278 | -0.3% |
| 2017 | 0.1225 | -4.1% |
| 2018 | 0.1236 | +0.9% |
| 2019 | 0.1303 | +5.3% |
| 2020 | 0.1218 | -6.5% |
Nigeria compared with similar countries
- Nigeria's 0.1218 is below the median for lower middle income countries, which is 0.1657, 73% of the median. (45 countries reporting)
- Nigeria's 0.1218 is above the median for Sub-Saharan Africa, which is 0.0774, 1.6× the median. (46 countries reporting)
Biggest year-on-year movements
Years where Financial Institutions Access Index in Nigeria changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2007 | +55.6% | 0.0505 | 0.0786 |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 0.058 | 0.0473 | 0.0678 | 10 |
| 1990s | 0.0511 | 0.0449 | 0.0582 | 10 |
| 2000s | 0.0684 | 0.0501 | 0.124 | 10 |
| 2010s | 0.1259 | 0.1166 | 0.1351 | 10 |
| 2020s | 0.1218 | 0.1218 | 0.1218 | 1 |
Countries ranked near Nigeria
- 137 Equatorial Guinea 0.1298 compare
- 138 Kiribati 0.1284 compare
- 139 East Timor 0.1233 compare
- 141 Gambia 0.1199 compare
- 142 Solomon Islands 0.1106 compare
- 143 Ecuador 0.1098 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 financial institutions access index in Nigeria?
- Financial institutions access index in Nigeria was 0.1218 in 2020, according to International Monetary Fund.
- What is the highest financial institutions access index recorded in Nigeria?
- The highest recorded value was 0.1351 in 2014.
- What is the lowest financial institutions access index recorded in Nigeria?
- The lowest recorded value was 0.0449 in 1990.
- How does Nigeria rank for financial institutions access index?
- Nigeria ranks 140th out of 183 countries with data for 2020.
- Is financial institutions access index rising or falling in Nigeria?
- Over the last ten years it is down 1.6%. 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 Institutions Access Index. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 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.