Nigeria Credit to GDP
Domestic credit to private sector as % of GDP FS.AST.PRVT.GD.ZS
Nigeria's credit to gdp was 9.47% in 2025, ranked 145th globally. This represents a 1.0% decrease from 2024. Data from World Bank, covering 1960–2025.
Overview
Nigeria's credit to gdp stood at 9.47% in 2025, a decline of +0.10% from 2022. Based on recent trends, this figure is projected to reach 9.47% by 2025. Nigeria ranked 145th globally.
Nigeria’s credit to GDP ratio has risen from a trough of 3.70 in 1960 to an all‑time peak of 19.63 in 2009, before receding to 9.46 in 2025, placing the country 145th in the World Bank ranking. Over the 64‑year coverage period the indicator has more than doubled, reflecting expanding access to formal financing amid structural reforms and a burgeoning private sector. The 2025 figure is comparable to peers such as Ghana (9.06) and Zambia (9.89), yet remains below The Gambia’s 9.72, suggesting that Nigeria’s credit market is moderately developed relative to its regional counterparts. The post‑peak decline coincides with tighter monetary conditions and heightened sovereign risk perceptions after the 2008‑09 global financial shock. Continued diversification of the economy, improvements in fiscal discipline and deeper financial inclusion could sustain a gradual upward trajectory, while persistent macro‑economic volatility would likely restrain further advances.
Data & projection
| Year | Credit to GDP | YoY change | Rank |
|---|---|---|---|
| 2025* trend | 9.47% | - | - |
| 2025 | 9.47% | −0.10% | #145 |
| 2022 | 9.56% | −0.17% | #12 |
| 2021 | 9.73% | +0.97% | #14 |
| 2020 | 8.76% | +0.84% | #12 |
| 2019 | 7.92% | −2.32% | #9 |
| 2018 | 10.25% | −2.61% | #14 |
| 2017 | 12.85% | −1.76% | #18 |
| 2016 | 14.61% | +1.53% | #23 |
| 2015 | 13.08% | −0.22% | #18 |
| 2014 | 13.30% | +1.76% | #21 |
| 2013 | 11.53% | +0.93% | #18 |
| 2012 | 10.60% | −0.44% | #18 |
| 2011 | 11.04% | −2.45% | #23 |
| 2010 | 13.49% | −6.13% | #30 |
| 2009 | 19.63% | +0.99% | #44 |
Detected Pattern
Analysis
Nigeria matched the Export Boom Cycle pattern in 2024. Historically, 71% of countries showing this pattern (546 out of 768) saw credit to gdp improve within 24 months. View full analysis →
Frequently Asked Questions
Nigeria's credit to gdp was 9.47% in 2025. Ranked 145th globally. This represents a 1.0% decrease from the previous year.
Nigeria's credit to gdp peaked at 19.63% in 2009.
The lowest credit to gdp in Nigeria was 3.70% in 1960.
Nigeria ranks 145th globally in credit to gdp as of 2025.
The World Bank indicator code is FS.AST.PRVT.GD.ZS. Data sourced from World Bank.
Nigeria's credit to gdp is projected to reach 9.47% by 2025 based on trend extrapolation.
The credit to gdp of Nigeria in 2025 was 9.47%. This ranks 145th in the world.
Cite this page
@misc{historysaid_nigeria_credit-to-gdp,
title = {Nigeria Credit to GDP},
url = {https://historysaid.com/nigeria/credit-to-gdp/},
publisher = {HistorySaid},
year = {2026}
}