Private Sector Credit Statistics in Nigeria (2026)
According to World Bank World Development Indicators data, domestic credit to the private sector in Nigeria came to 9.6% of GDP in 2022. Down from 9.7% of GDP in 2021 to 9.6% of GDP in 2022 (−0.2 percentage points). Nigeria ranks #23 of 35 economies in Sub-Saharan Africa on this measure, and #146 of 160 globally.
Key Statistics
- Latest value (2022)
- 9.6% of GDP (2022)
- Private Sector Credit in Nigeria as of 2022, the most recent observation in World Bank World Development Indicators data.
- Change since 2021
- −0.2 pp (2022)
- Down from 9.7% of GDP in 2021 to 9.6% of GDP in 2022 (−0.2 percentage points).
- Earliest value in this dataset (1990)
- 5% of GDP (1990)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Up from 5% of GDP in 1990 to 9.6% of GDP in 2022.
- Peak value (2009)
- 19.6% of GDP (2009)
- Highest value in the available series; the 2022 value is 9.6% of GDP.
- Rank in Sub-Saharan Africa
- #23 of 35 (2022)
- Nigeria ranks 23 of 35 countries in Sub-Saharan Africa with data, based on each country's latest value.
- Global rank
- #146 of 160 (2022)
- Nigeria ranks 146 of 160 countries with data globally.
- Sub-Saharan Africa average
- 20.8% of GDP (2022)
- Nigeria (9.6% of GDP) is below the average of 20.8% of GDP across the 35 countries in Sub-Saharan Africa with data.
- Domestic credit to private sector by banks (% of GDP) (2023)
- 13.1% (2023)
- Related indicator from World Bank World Development Indicators.
- Outstanding loans from commercial banks, percent of GDP (2024)
- 21.1% (2024)
- Related indicator from IMF Financial Access Survey (alternative source for cross-checking; not merged with the main series).
- Internet use in Nigeria (2024)
- 41.2% (2024)
- 41.2% of the population in Nigeria used the internet in 2024 (World Bank); shown for context only.
- Population (2024)
- 232.7 million (2024)
- Nigeria had a population of 232.7 million in 2024 (World Bank); shown for scale only.
Trend, 1990–2022
| Year | % of GDP | Change |
|---|---|---|
| 2022 | 9.6% | −0.2 pp |
| 2021 | 9.7% | +1.0 pp |
| 2020 | 8.8% | +0.8 pp |
| 2019 | 7.9% | −2.3 pp |
| 2018 | 10.2% | −2.6 pp |
| 2017 | 12.9% | −1.8 pp |
| 2016 | 14.6% | +1.5 pp |
| 2015 | 13.1% | −0.2 pp |
| 2014 | 13.3% | +1.8 pp |
| 2013 | 11.5% | +0.9 pp |
| 2012 | 10.6% | −0.4 pp |
| 2011 | 11% | −2.4 pp |
| 2010 | 13.5% | −6.1 pp |
| 2009 | 19.6% | +1.0 pp |
| 2008 | 18.6% | +4.8 pp |
| 2007 | 13.8% | +5.7 pp |
| 2006 | 8.1% | −0.3 pp |
| 2005 | 8.4% | −0.0 pp |
| 2004 | 8.5% | −0.4 pp |
| 2003 | 8.9% | +0.8 pp |
| 2002 | 8.1% | −1.8 pp |
| 2001 | 9.9% | +1.6 pp |
| 2000 | 8.2% | +0.1 pp |
| 1999 | 8.2% | +0.5 pp |
| 1998 | 7.6% | +0.6 pp |
| 1997 | 7% | +0.9 pp |
| 1996 | 6.2% | −0.3 pp |
| 1995 | 6.5% | −1.5 pp |
| 1994 | 8% | +1.0 pp |
| 1993 | 7% | −1.2 pp |
| 1992 | 8.2% | +3.0 pp |
| 1991 | 5.2% | +0.3 pp |
| 1990 | 5% | — |
Frequently asked questions
What is the latest figure for domestic credit to the private sector in Nigeria?
Domestic credit to the private sector in Nigeria stood at 9.6% of GDP in 2022, according to World Bank World Development Indicators data.
When did private sector credit in Nigeria peak?
The highest value in the available series was 19.6% of GDP in 2009; the latest (2022) value is 9.6% of GDP.
How recent is the private sector credit data for Nigeria?
The most recent observation is from 2022. World Bank World Development Indicators data is reported with a lag, so 2022 is the latest available year for Nigeria.
Where does the private sector credit data for Nigeria come from?
The data comes from the World Bank World Development Indicators (indicator FS.AST.PRVT.GD.ZS). The latest observation for Nigeria is from 2022; the snapshot was retrieved on 2026-06-10.
Source & methodology
Source: World Bank, World Development Indicators, indicator
FS.AST.PRVT.GD.ZS, retrieved .
Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.
Last updated .