Life insurance premium volume to GDP in Nigeria
Nigeria: Life insurance premium volume to GDP was 0.1% in 2018. ▲ Rising
Life insurance premium volume to GDP in Nigeria, 1993–2018
Source: Sigma Reports, Swiss Re. Measured in %.
Analysis
The most recent figure for life insurance premium volume to gdp in Nigeria is 0.1%, measured in 2018. That is the highest value across all 26 years on record.
Compared with earlier readings it is up 33.5% on the previous year and up 78.4% over ten years.
Over the whole period, life insurance premium volume to gdp in Nigeria peaked at 0.1% in 2018 and was at its lowest, 0.0%, in 1998.
That places Nigeria 125th out of 162 countries with data for 2018, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 26 years of available data.
Life insurance premium volume to GDP in Nigeria, year by year
| Year | % | Change |
|---|---|---|
| 1993 | 0.1% | — |
| 1994 | 0.1% | -11.6% |
| 1995 | 0.0% | -39.4% |
| 1996 | 0.0% | +15.9% |
| 1997 | 0.0% | -17.4% |
| 1998 | 0.0% | -13.0% |
| 1999 | 0.1% | +204.0% |
| 2000 | 0.1% | -27.3% |
| 2001 | 0.1% | +25.0% |
| 2002 | 0.1% | -3.5% |
| 2003 | 0.0% | -38.8% |
| 2004 | 0.1% | +37.3% |
| 2005 | 0.1% | -17.7% |
| 2006 | 0.0% | -11.8% |
| 2007 | 0.0% | +5.3% |
| 2008 | 0.1% | +59.1% |
| 2009 | 0.1% | +6.0% |
| 2010 | 0.1% | +9.9% |
| 2011 | 0.1% | -4.3% |
| 2012 | 0.1% | +1.3% |
| 2013 | 0.1% | +8.1% |
| 2014 | 0.1% | -0.4% |
| 2015 | 0.1% | +4.2% |
| 2016 | 0.1% | +22.4% |
| 2017 | 0.1% | -13.8% |
| 2018 | 0.1% | +33.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.0% | 0.0% | 0.1% | 7 |
| 2000s | 0.1% | 0.0% | 0.1% | 10 |
| 2010s | 0.1% | 0.1% | 0.1% | 9 |
Countries ranked near Nigeria
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 life insurance premium volume to gdp in Nigeria?
- Life insurance premium volume to gdp in Nigeria was 0.1% in 2018, according to Sigma Reports, Swiss Re.
- What is the highest life insurance premium volume to gdp recorded in Nigeria?
- The highest recorded value was 0.1% in 2018.
- What is the lowest life insurance premium volume to gdp recorded in Nigeria?
- The lowest recorded value was 0.0% in 1998.
- How does Nigeria rank for life insurance premium volume to gdp?
- Nigeria ranks 125th out of 162 countries with data for 2018.
- Is life insurance premium volume to gdp rising or falling in Nigeria?
- Over the last ten years it is up 78.4%. The long-run trend across the full record is rising.
- Where does this Nigeria data come from?
- The figures come from Sigma Reports, Swiss Re, published as part of Life insurance premium volume to GDP (%). Statizoid updates them automatically from the source API.
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About this data
Premium data is taken from various issues of Sigma reports (Swiss Re). Data on GDP in US dollars is from the electronic version of the World Development Indicators.