Financial Institutions Depth Index in Nigeria
Nigeria: Financial Institutions Depth Index was 0.0754 in 2020. ▲ Rising
Financial Institutions Depth Index in Nigeria, 1980–2020
Source: International Monetary Fund.
Analysis
In 2020, financial institutions depth index in Nigeria stood at 0.0754. That is the highest value across all 41 years on record.
Compared with earlier readings it is up 11.1% on the previous year and up 33.6% over ten years.
Over the whole period, financial institutions depth index in Nigeria peaked at 0.0754 in 2020 and was at its lowest, 0.032, in 1990.
Nigeria ranks 140th of 183 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 41 years of available data.
Financial Institutions Depth Index in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 1980 | 0.0488 | — |
| 1981 | 0.037 | -24.2% |
| 1982 | 0.0412 | +11.3% |
| 1983 | 0.0398 | -3.5% |
| 1984 | 0.0401 | +1.0% |
| 1985 | 0.0387 | -3.5% |
| 1986 | 0.0486 | +25.7% |
| 1987 | 0.0424 | -12.8% |
| 1988 | 0.0388 | -8.4% |
| 1989 | 0.0326 | -16.1% |
| 1990 | 0.032 | -1.9% |
| 1991 | 0.0323 | +0.9% |
| 1992 | 0.0531 | +64.7% |
| 1993 | 0.0452 | -14.8% |
| 1994 | 0.0459 | +1.5% |
| 1995 | 0.0486 | +5.8% |
| 1996 | 0.0455 | -6.5% |
| 1997 | 0.0428 | -5.8% |
| 1998 | 0.0391 | -8.7% |
| 1999 | 0.0444 | +13.6% |
| 2000 | 0.042 | -5.5% |
| 2001 | 0.0483 | +15.1% |
| 2002 | 0.0424 | -12.2% |
| 2003 | 0.0427 | +0.6% |
| 2004 | 0.041 | -3.8% |
| 2005 | 0.0409 | -0.3% |
| 2006 | 0.0394 | -3.7% |
| 2007 | 0.0506 | +28.4% |
| 2008 | 0.0645 | +27.5% |
| 2009 | 0.0688 | +6.7% |
| 2010 | 0.0564 | -18.0% |
| 2011 | 0.0517 | -8.3% |
| 2012 | 0.0532 | +2.8% |
| 2013 | 0.0575 | +8.1% |
| 2014 | 0.0605 | +5.3% |
| 2015 | 0.0625 | +3.2% |
| 2016 | 0.0672 | +7.5% |
| 2017 | 0.0663 | -1.3% |
| 2018 | 0.0646 | -2.5% |
| 2019 | 0.0679 | +5.0% |
| 2020 | 0.0754 | +11.1% |
Nigeria compared with similar countries
- Nigeria's 0.0754 is below the median for lower middle income countries, which is 0.0823, 92% of the median. (45 countries reporting)
- Nigeria's 0.0754 is above the median for Sub-Saharan Africa, which is 0.0655, 1.2× the median. (46 countries reporting)
Biggest year-on-year movements
Years where Financial Institutions Depth 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 |
|---|---|---|---|
| 1992 | +64.7% | 0.0323 | 0.0531 |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 0.0408 | 0.0326 | 0.0488 | 10 |
| 1990s | 0.0429 | 0.032 | 0.0531 | 10 |
| 2000s | 0.0481 | 0.0394 | 0.0688 | 10 |
| 2010s | 0.0608 | 0.0517 | 0.0679 | 10 |
| 2020s | 0.0754 | 0.0754 | 0.0754 | 1 |
Countries ranked near Nigeria
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 depth index in Nigeria?
- Financial institutions depth index in Nigeria was 0.0754 in 2020, according to International Monetary Fund.
- What is the highest financial institutions depth index recorded in Nigeria?
- The highest recorded value was 0.0754 in 2020.
- What is the lowest financial institutions depth index recorded in Nigeria?
- The lowest recorded value was 0.032 in 1990.
- How does Nigeria rank for financial institutions depth index?
- Nigeria ranks 140th out of 183 countries with data for 2020.
- Is financial institutions depth index rising or falling in Nigeria?
- Over the last ten years it is up 33.6%. 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 Depth 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.