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
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Efina. (December 13, 2023). Share of population using financial services in Nigeria from 2018 to 2023, by type [Graph]. In Statista. Retrieved November 21, 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 November 21, 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: November 21, 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 November 21, 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/
