As of 2023, 64 percent of Nigeria's population used remittances, compared to other financial services. Moreover, a share of 62 percent used savings. On the other hand, only three percent of the population used insurance services that year.
Share of population using financial services in Nigeria from 2018 to 2023, by type
The questionnaire (in English) was translated into and administered in Hausa, Yoruba, Igbo and Pidgin English. The questionnaire (in English), was translated into and administered in Hausa, Yoruba, Igbo and Pidgin English.
Data is nationally representative of adults in Nigeria across the country's 36 states and FCT Abuja. Savings: includes saving at home and with family and friends.
Credit: includes borrowing from family and friends.
Transaction: captures those who have access to/use formal transactional accounts-commercial banks, microfinance banks, mobile money accounts
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Efina. (December 13, 2023). Share of population using financial services in Nigeria from 2018 to 2023, by type [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1455932/nigeria-financial-services-usage-by-type/
Efina. "Share of population using financial services in Nigeria from 2018 to 2023, by type." Chart. December 13, 2023. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1455932/nigeria-financial-services-usage-by-type/
Efina. (2023). Share of population using financial services in Nigeria from 2018 to 2023, by type. Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1455932/nigeria-financial-services-usage-by-type/
Efina. "Share of Population Using Financial Services in Nigeria from 2018 to 2023, by Type." Statista, Statista Inc., 13 Dec 2023, https://www.statista.com/statistics/1455932/nigeria-financial-services-usage-by-type/
Efina, Share of population using financial services in Nigeria from 2018 to 2023, by type Statista, https://www.statista.com/statistics/1455932/nigeria-financial-services-usage-by-type/ (last visited December 22, 2024)
Share of population using financial services in Nigeria from 2018 to 2023, by type [Graph], Efina, December 13, 2023. [Online]. Available: https://www.statista.com/statistics/1455932/nigeria-financial-services-usage-by-type/
