Financial Institutions Index in Nigeria
Nigeria: Financial Institutions Index was 0.2372 in 2020. ▲ Rising
Financial Institutions Index in Nigeria, 1980–2020
Source: International Monetary Fund.
Analysis
Nigeria recorded 0.2372 for financial institutions index in 2020.
Compared with earlier readings it is down 0.9% on the previous year and up 31.6% over ten years.
Over the whole period, financial institutions index in Nigeria peaked at 0.2394 in 2019 and was at its lowest, 0.1459, in 1991.
Nigeria ranks 139th 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 Index in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 1980 | 0.2148 | — |
| 1981 | 0.2085 | -2.9% |
| 1982 | 0.214 | +2.7% |
| 1983 | 0.1841 | -14.0% |
| 1984 | 0.2159 | +17.3% |
| 1985 | 0.218 | +1.0% |
| 1986 | 0.2245 | +3.0% |
| 1987 | 0.2002 | -10.8% |
| 1988 | 0.1923 | -4.0% |
| 1989 | 0.1707 | -11.2% |
| 1990 | 0.1502 | -12.0% |
| 1991 | 0.1459 | -2.8% |
| 1992 | 0.184 | +26.1% |
| 1993 | 0.1768 | -3.9% |
| 1994 | 0.1514 | -14.3% |
| 1995 | 0.1494 | -1.4% |
| 1996 | 0.1511 | +1.1% |
| 1997 | 0.1542 | +2.1% |
| 1998 | 0.162 | +5.1% |
| 1999 | 0.1777 | +9.7% |
| 2000 | 0.1661 | -6.6% |
| 2001 | 0.1529 | -7.9% |
| 2002 | 0.1601 | +4.7% |
| 2003 | 0.1654 | +3.3% |
| 2004 | 0.1695 | +2.5% |
| 2005 | 0.1643 | -3.1% |
| 2006 | 0.1695 | +3.2% |
| 2007 | 0.1984 | +17.1% |
| 2008 | 0.2106 | +6.1% |
| 2009 | 0.2 | -5.0% |
| 2010 | 0.1802 | -9.9% |
| 2011 | 0.1785 | -1.0% |
| 2012 | 0.2101 | +17.7% |
| 2013 | 0.2129 | +1.3% |
| 2014 | 0.2238 | +5.1% |
| 2015 | 0.2139 | -4.4% |
| 2016 | 0.2235 | +4.5% |
| 2017 | 0.219 | -2.0% |
| 2018 | 0.2328 | +6.3% |
| 2019 | 0.2394 | +2.8% |
| 2020 | 0.2372 | -0.9% |
Nigeria compared with similar countries
- Nigeria's 0.2372 is below the median for lower middle income countries, which is 0.2568, 92% of the median. (45 countries reporting)
- Nigeria's 0.2372 is above the median for Sub-Saharan Africa, which is 0.2105, 1.1× the median. (46 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 0.2043 | 0.1707 | 0.2245 | 10 |
| 1990s | 0.1603 | 0.1459 | 0.184 | 10 |
| 2000s | 0.1757 | 0.1529 | 0.2106 | 10 |
| 2010s | 0.2134 | 0.1785 | 0.2394 | 10 |
| 2020s | 0.2372 | 0.2372 | 0.2372 | 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 index in Nigeria?
- Financial institutions index in Nigeria was 0.2372 in 2020, according to International Monetary Fund.
- What is the highest financial institutions index recorded in Nigeria?
- The highest recorded value was 0.2394 in 2019.
- What is the lowest financial institutions index recorded in Nigeria?
- The lowest recorded value was 0.1459 in 1991.
- How does Nigeria rank for financial institutions index?
- Nigeria ranks 139th out of 183 countries with data for 2020.
- Is financial institutions index rising or falling in Nigeria?
- Over the last ten years it is up 31.6%. 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 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.