Total Credit — Value Standard Local Currency in Nigeria
Nigeria: Total Credit — Value Standard Local Currency was 44.54 million million SLC in 2023. ◆ Volatile
Total Credit — Value Standard Local Currency in Nigeria, 1991–2023
Source: Food and Agriculture Organization of the United Nations. Measured in million SLC.
Analysis
The most recent figure for total credit — value standard local currency in Nigeria is 44.54 million million SLC, measured in 2023. That is the highest value across all 33 years on record.
Compared with earlier readings it is up 51.1% on the previous year and up 345.1% over ten years.
Over the whole period, total credit — value standard local currency in Nigeria peaked at 44.54 million million SLC in 2023 and was at its lowest, 31,300 million SLC, in 1991.
That places Nigeria 16th out of 174 countries with data for 2023, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 169,911 million SLC | 31,300 million SLC | 385,600 million SLC | 9 |
| 2000s | 3.04 million million SLC | 508,300 million SLC | 8.91 million million SLC | 10 |
| 2010s | 12.33 million million SLC | 7.31 million million SLC | 17.19 million million SLC | 10 |
| 2020s | 29.69 million million SLC | 20.37 million million SLC | 44.54 million million SLC | 4 |
Countries ranked near Nigeria
- 13 China, mainland 160.91 million million SLC compare
- 14 Iraq 102.24 million million SLC compare
- 15 Russian Federation 77.73 million million SLC compare
- 17 Mongolia 33.30 million million SLC compare
- 18 Myanmar 32.02 million million SLC compare
- 19 United Republic of Tanzania 31.06 million million SLC compare
More agriculture & rural data for Nigeria
- Agriculture share gdp 22.98 (2025)
- Value added in the agricultural sector as of gdp vs gdp per capita 22.98 (2025)
- Agricultural raw materials exports 0.4% (2024)
- Agricultural raw materials imports 0.6% (2024)
- Rural population 36.2% (2025)
- Rural population growth -0.1% (2025)
- Rural population 86.04 million (2025)
- Agriculture, forestry, and fishing, value added 23.0% (2025)
- Agriculture, forestry, and fishing, value added 66.82 billion current US$ (2025)
- Cereal yield vs gdp per capita 1.56 (2024)
Frequently asked questions
- What is total credit — value standard local currency in Nigeria?
- Total credit — value standard local currency in Nigeria was 44.54 million million SLC in 2023, according to Food and Agriculture Organization of the United Nations.
- What is the highest total credit — value standard local currency recorded in Nigeria?
- The highest recorded value was 44.54 million million SLC in 2023.
- What is the lowest total credit — value standard local currency recorded in Nigeria?
- The lowest recorded value was 31,300 million SLC in 1991.
- How does Nigeria rank for total credit — value standard local currency?
- Nigeria ranks 16th out of 174 countries with data for 2023.
- Is total credit — value standard local currency rising or falling in Nigeria?
- Over the last ten years it is up 345.1%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of Total Credit — Value Standard Local Currency. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 33 observations, free to reuse under CC BY-NC-SA 3.0 IGO (FAO).
About this data
Credit to agriculture measures the amount of loans and advances given by the banking sector to farmers, rural households, agricultural cooperatives, or any other agri-related businesses. Each country’s central bank compiles its credit stocks by economic activities as part of its monetary and financial statistics publications via annual or quarterly reports online. Data collection has been carried out mostly through reports found on the central bank websites. Data are collected and compiled according to the International Standard Industrial Classification of All Economic Activities (ISIC Rev. 4: https://unstats.un.org/unsd/classifications/Econ/isic) with a special concentration on the credit to agriculture, forestry and fishing sector separately from the ones to manufacturing and services.