Insurance company assets to GDP in Nigeria
Nigeria: Insurance company assets to GDP was 1.0% in 2019. ▲ Rising
Insurance company assets to GDP in Nigeria, 2002–2019
Source: Nonbanking financial database, World Bank. Measured in %.
Analysis
In 2019, insurance company assets to gdp in Nigeria stood at 1.0%.
The figure is up 1.6% on the previous year and down 20.9% over ten years.
Over the whole period, insurance company assets to gdp in Nigeria peaked at 1.5% in 2008 and was at its lowest, 0.7%, in 2002.
That places Nigeria 126th out of 138 countries with data for 2019, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 18 years of available data.
Insurance company assets to GDP in Nigeria, year by year
| Year | % | Change |
|---|---|---|
| 2002 | 0.7% | — |
| 2003 | 0.9% | +31.4% |
| 2004 | 0.9% | -3.9% |
| 2005 | 0.8% | -7.0% |
| 2006 | 1.1% | +29.7% |
| 2007 | 1.3% | +20.7% |
| 2008 | 1.5% | +13.0% |
| 2009 | 1.3% | -9.5% |
| 2010 | 1.1% | -20.4% |
| 2011 | 1.0% | -8.2% |
| 2012 | 1.0% | +1.1% |
| 2013 | 1.0% | +0.1% |
| 2014 | 0.9% | -5.5% |
| 2015 | 1.0% | +4.0% |
| 2016 | 1.0% | +2.9% |
| 2017 | 1.0% | -0.9% |
| 2018 | 1.0% | +4.9% |
| 2019 | 1.0% | +1.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 1.1% | 0.7% | 1.5% | 8 |
| 2010s | 1.0% | 0.9% | 1.1% | 10 |
Countries ranked near Nigeria
- 123 Papua New Guinea 1.3% compare
- 124 Angola 1.3% compare
- 125 Armenia 1.1% compare
- 127 Mongolia 1.0% compare
- 128 Lao People's Democratic Republic 0.9% compare
- 129 Tanzania, United Republic of 0.8% compare
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)
- Total reserves (gold at national valuation) (SDR), per capita 141.38 SDR per person (2025)
Frequently asked questions
- What is insurance company assets to gdp in Nigeria?
- Insurance company assets to gdp in Nigeria was 1.0% in 2019, according to Nonbanking financial database, World Bank.
- What is the highest insurance company assets to gdp recorded in Nigeria?
- The highest recorded value was 1.5% in 2008.
- What is the lowest insurance company assets to gdp recorded in Nigeria?
- The lowest recorded value was 0.7% in 2002.
- How does Nigeria rank for insurance company assets to gdp?
- Nigeria ranks 126th out of 138 countries with data for 2019.
- Is insurance company assets to gdp rising or falling in Nigeria?
- Over the last ten years it is down 20.9%. The long-run trend across the full record is rising.
- Where does this Nigeria data come from?
- The figures come from Nonbanking financial database, World Bank, published as part of Insurance company assets to GDP (%). Statizoid updates them automatically from the source API.
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About this data
Data taken from a variety of sources such as AXCO and national sources.