In a survey conducted in 2023, borrowing money from a bank was the least popular among different employment groups in Nigeria, except for individuals who were formally employed. Around 26 percent of the formally employed population opted for this source of borrowing while borrowing from family and friends was most common among farmers.
Distribution of sources of financial borrowing in Nigeria as of 2023, by employment status
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Efina. (December 13, 2023). Distribution of sources of financial borrowing in Nigeria as of 2023, by employment status [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1455965/sources-of-borrowing-in-nigeria-by-employment-status/
Efina. "Distribution of sources of financial borrowing in Nigeria as of 2023, by employment status." Chart. December 13, 2023. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1455965/sources-of-borrowing-in-nigeria-by-employment-status/
Efina. (2023). Distribution of sources of financial borrowing in Nigeria as of 2023, by employment status. Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1455965/sources-of-borrowing-in-nigeria-by-employment-status/
Efina. "Distribution of Sources of Financial Borrowing in Nigeria as of 2023, by Employment Status." Statista, Statista Inc., 13 Dec 2023, https://www.statista.com/statistics/1455965/sources-of-borrowing-in-nigeria-by-employment-status/
Efina, Distribution of sources of financial borrowing in Nigeria as of 2023, by employment status Statista, https://www.statista.com/statistics/1455965/sources-of-borrowing-in-nigeria-by-employment-status/ (last visited December 22, 2024)
Distribution of sources of financial borrowing in Nigeria as of 2023, by employment status [Graph], Efina, December 13, 2023. [Online]. Available: https://www.statista.com/statistics/1455965/sources-of-borrowing-in-nigeria-by-employment-status/
