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Nigeria Private Credit (% GDP)

Nigeria's private credit (% GDP) fell to 12.96% in 2022, down from 13.45% in 2021, according to World Bank. This represents a decrease of 0.49% from the previous year. Nigeria has private credit (% GDP) lower than the global median (12.96% vs median 39.47%). Compared with the median in Africa, Nigeria is lower (12.96% vs regional median 16.64%) and ranks 35th out of 51 countries in Africa.

Yearly Historical Data (1960-2022)

(in %)
Year Private Credit (% GDP)
2022 12.96%
2021 13.45%
2020 12.13%
2019 11.16%
2018 10.25%
2017 12.85%
2016 14.61%
2015 13.08%
2014 13.3%
2013 11.53%
2012 10.6%
2011 11.04%
2010 13.49%
2009 19.63%
2008 18.63%
2007 13.8%
2006 8.12%
2005 8.44%
2004 8.46%
2003 8.91%
2002 8.08%
2001 9.88%
2000 8.25%
1999 8.17%
1998 7.62%
1997 7.03%
1996 6.17%
1995 6.51%
1994 8.04%
1993 7.01%
1992 8.23%
1991 5.24%
1990 4.96%
1989 5.09%
1988 6.07%
1987 6.6%
1986 7.57%
1985 6.04%
1984 6.27%
1983 6.21%
1982 6.45%
1981 5.8%
1980 12.23%
1979 10.39%
1978 10.99%
1977 9.24%
1976 7.62%
1975 6.81%
1974 4.7%
1973 6.05%
1972 6.14%
1971 5.39%
1970 4.92%
1969 6.65%
1968 7.87%
1967 7.81%
1966 7.2%
1965 6.7%
1964 6.33%
1963 6.44%
1962 5.57%
1961 3.7%
1960 3.7%
Nigeria Private Credit (% GDP) : Definition
Private Credit (% GDP) measures credit extended to the private sector by financial institutions during the period, expressed as a percentage of nominal GDP for Nigeria.
Indicator Last Value Prior Value Period
Current Account to GDP Ratio -0.5% -0.3% Dec'24
Debt to GDP Ratio 52.9% 48.7% Dec'24
Interest Rate 27% 27.5% Sep'25