Financial Institutions Efficiency Index in Nigeria
Nigeria: Financial Institutions Efficiency Index was 0.591 in 2020. ▼ Falling
Financial Institutions Efficiency Index in Nigeria, 1980–2020
Source: International Monetary Fund.
Analysis
The most recent figure for financial institutions efficiency index in Nigeria is 0.591, measured in 2020.
The figure is down 1.2% on the previous year and up 48.5% over ten years.
Over the whole period, financial institutions efficiency index in Nigeria peaked at 0.6798 in 1985 and was at its lowest, 0.3969, in 2011.
Nigeria ranks 89th of 183 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 41 years of available data.
Financial Institutions Efficiency Index in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 1980 | 0.6563 | — |
| 1981 | 0.6523 | -0.6% |
| 1982 | 0.6616 | +1.4% |
| 1983 | 0.5601 | -15.3% |
| 1984 | 0.6675 | +19.2% |
| 1985 | 0.6798 | +1.8% |
| 1986 | 0.6768 | -0.4% |
| 1987 | 0.6087 | -10.1% |
| 1988 | 0.5881 | -3.4% |
| 1989 | 0.5293 | -10.0% |
| 1990 | 0.4546 | -14.1% |
| 1991 | 0.4375 | -3.8% |
| 1992 | 0.5281 | +20.7% |
| 1993 | 0.5249 | -0.6% |
| 1994 | 0.4267 | -18.7% |
| 1995 | 0.41 | -3.9% |
| 1996 | 0.4254 | +3.8% |
| 1997 | 0.4432 | +4.2% |
| 1998 | 0.4796 | +8.2% |
| 1999 | 0.5202 | +8.5% |
| 2000 | 0.4882 | -6.2% |
| 2001 | 0.4213 | -13.7% |
| 2002 | 0.4609 | +9.4% |
| 2003 | 0.4783 | +3.8% |
| 2004 | 0.4951 | +3.5% |
| 2005 | 0.4855 | -1.9% |
| 2006 | 0.5076 | +4.5% |
| 2007 | 0.5543 | +9.2% |
| 2008 | 0.5274 | -4.9% |
| 2009 | 0.4539 | -13.9% |
| 2010 | 0.398 | -12.3% |
| 2011 | 0.3969 | -0.3% |
| 2012 | 0.5318 | +34.0% |
| 2013 | 0.5203 | -2.1% |
| 2014 | 0.5419 | +4.1% |
| 2015 | 0.5116 | -5.6% |
| 2016 | 0.5417 | +5.9% |
| 2017 | 0.5345 | -1.3% |
| 2018 | 0.5888 | +10.2% |
| 2019 | 0.5979 | +1.5% |
| 2020 | 0.591 | -1.2% |
Nigeria compared with similar countries
- Nigeria's 0.591 is above the median for lower middle income countries, which is 0.5528, 1.1× the median. (45 countries reporting)
- Nigeria's 0.591 is above the median for Sub-Saharan Africa, which is 0.5175, 1.1× the median. (46 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 0.628 | 0.5293 | 0.6798 | 10 |
| 1990s | 0.465 | 0.41 | 0.5281 | 10 |
| 2000s | 0.4872 | 0.4213 | 0.5543 | 10 |
| 2010s | 0.5163 | 0.3969 | 0.5979 | 10 |
| 2020s | 0.591 | 0.591 | 0.591 | 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 efficiency index in Nigeria?
- Financial institutions efficiency index in Nigeria was 0.591 in 2020, according to International Monetary Fund.
- What is the highest financial institutions efficiency index recorded in Nigeria?
- The highest recorded value was 0.6798 in 1985.
- What is the lowest financial institutions efficiency index recorded in Nigeria?
- The lowest recorded value was 0.3969 in 2011.
- How does Nigeria rank for financial institutions efficiency index?
- Nigeria ranks 89th out of 183 countries with data for 2020.
- Is financial institutions efficiency index rising or falling in Nigeria?
- Over the last ten years it is up 48.5%. The long-run trend across the full record is falling.
- Where does this Nigeria data come from?
- The figures come from International Monetary Fund, published as part of Financial Institutions Efficiency 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.