Total Credit — Value US$ in Nigeria
Nigeria: Total Credit — Value US$ was 71,239 million USD in 2023. ◆ Volatile
Total Credit — Value US$ in Nigeria, 1991–2023
Source: Food and Agriculture Organization of the United Nations. Measured in million USD.
Analysis
In 2023, total credit — value us$ in Nigeria stood at 71,239 million USD.
That represents a change of up 3.0% on the previous year and up 12.0% over ten years.
Over the whole period, total credit — value us$ in Nigeria peaked at 81,294 million USD in 2014 and was at its lowest, 2,221 million USD, in 1996.
Nigeria ranks 48th of 166 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Total Credit — Value US$ in Nigeria, year by year
| Year | million USD | Change |
|---|---|---|
| 1991 | 3,159 million USD | — |
| 1992 | 2,468 million USD | -21.9% |
| 1993 | 2,978 million USD | +20.6% |
| 1994 | 2,636 million USD | -11.5% |
| 1995 | 2,355 million USD | -10.6% |
| 1996 | 2,221 million USD | -5.7% |
| 1997 | 4,896 million USD | +120.4% |
| 1998 | 3,306 million USD | -32.5% |
| 1999 | 3,496 million USD | +5.8% |
| 2000 | 4,998 million USD | +43.0% |
| 2001 | 7,158 million USD | +43.2% |
| 2002 | 7,917 million USD | +10.6% |
| 2003 | 9,364 million USD | +18.3% |
| 2004 | 11,432 million USD | +22.1% |
| 2005 | 15,058 million USD | +31.7% |
| 2006 | 19,621 million USD | +30.3% |
| 2007 | 36,616 million USD | +86.6% |
| 2008 | 62,508 million USD | +70.7% |
| 2009 | 59,861 million USD | -4.2% |
| 2010 | 51,274 million USD | -14.3% |
| 2011 | 47,528 million USD | -7.3% |
| 2012 | 51,746 million USD | +8.9% |
| 2013 | 63,604 million USD | +22.9% |
| 2014 | 81,294 million USD | +27.8% |
| 2015 | 68,001 million USD | -16.4% |
| 2016 | 63,581 million USD | -6.5% |
| 2017 | 51,475 million USD | -19.0% |
| 2018 | 49,445 million USD | -3.9% |
| 2019 | 56,001 million USD | +13.3% |
| 2020 | 56,781 million USD | +1.4% |
| 2021 | 60,770 million USD | +7.0% |
| 2022 | 69,194 million USD | +13.9% |
| 2023 | 71,239 million USD | +3.0% |
Nigeria compared with similar countries
- Nigeria's 71,239 million USD is above the median for lower middle income countries, which is 4,537 million USD, 15.7× the median. (38 countries reporting)
- Nigeria's 71,239 million USD is above the median for Sub-Saharan Africa, which is 2,472 million USD, 28.8× the median. (42 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 3,057 million USD | 2,221 million USD | 4,896 million USD | 9 |
| 2000s | 23,453 million USD | 4,998 million USD | 62,508 million USD | 10 |
| 2010s | 58,395 million USD | 47,528 million USD | 81,294 million USD | 10 |
| 2020s | 64,496 million USD | 56,781 million USD | 71,239 million USD | 4 |
Countries ranked near Nigeria
More agriculture & rural data for Nigeria
- Agriculture, forestry, and fishing, value added (current US$), annual 2.38 % change on previous year (2025)
- Agriculture, forestry, and fishing, value added (current US$), per 0.2298 current US$ per US$ of GDP (2025)
- Agriculture, forestry, and fishing, value added (current US$), per 281.32 current US$ per person (2025)
- Rural population, annual growth rate -0.1218 % change on previous year (2025)
- Rural population, per unit of GDP 0.0003 units per US$ of GDP (2025)
- Rural population, per capita 0.3622 units per person (2025)
- Share of GDP from agriculture 23.0% (2025)
- Agriculture as a share of GDP vs. GDP per capita 23.0% (2025)
- Agricultural raw materials exports 0.4% (2024)
- Agricultural raw materials imports 0.6% (2024)
Frequently asked questions
- What is total credit — value us$ in Nigeria?
- Total credit — value us$ in Nigeria was 71,239 million USD in 2023, according to Food and Agriculture Organization of the United Nations.
- What is the highest total credit — value us$ recorded in Nigeria?
- The highest recorded value was 81,294 million USD in 2014.
- What is the lowest total credit — value us$ recorded in Nigeria?
- The lowest recorded value was 2,221 million USD in 1996.
- How does Nigeria rank for total credit — value us$?
- Nigeria ranks 48th out of 166 countries with data for 2023.
- Is total credit — value us$ rising or falling in Nigeria?
- Over the last ten years it is up 12.0%. 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 US$. Statizoid updates them automatically from the source API.
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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.