Claims on Private Sector for Nigeria
NGAFDSAOPGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20.47
Year-over-Year Change
93.65%
Date Range
1/1/2001 - 1/1/2024
Summary
The 'Claims on Private Sector for Nigeria' measures lending to the private sector as a percentage of GDP in Nigeria. This provides insight into the flow of credit and financial intermediation, key factors in economic growth and development.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This indicator represents the total value of outstanding loans, advances, and any other credit provided by financial corporations to the private sector in Nigeria, expressed as a percentage of the country's GDP. It is a widely used metric for assessing the depth and breadth of a nation's financial system.
Methodology
The data is collected and calculated by the Central Bank of Nigeria and reported to the International Monetary Fund.
Historical Context
Policy makers and economists monitor this indicator to gauge the financial sector's role in supporting private enterprise and overall economic activity.
Key Facts
- Nigeria's claims on private sector as % of GDP was 12.4% in 2021.
- This indicator has declined from a high of 21.4% in 2013.
- Increasing private sector credit is a policy priority for Nigeria's economic growth.
FAQs
Q: What does this economic trend measure?
A: The 'Claims on Private Sector for Nigeria' measures the total value of outstanding loans, advances, and other credit provided by financial institutions to the private sector in Nigeria, as a percentage of the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the depth and breadth of Nigeria's financial system and its ability to channel credit to support private enterprise and economic activity, which are key drivers of growth and development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Central Bank of Nigeria and reported to the International Monetary Fund.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this indicator to assess the financial sector's role in supporting private businesses and overall economic growth, and to inform policies aimed at deepening financial intermediation.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may be subject to revisions by the reporting authorities.
Related Trends
Liquid Assets to Deposits and Short Term Funding for Nigeria
DDSI06NGA156NWDB
Gross National Income for Nigeria
MKTGNINGA646NWDB
Provisions to Non-Performing Loans for Nigeria
DDSI07NGA156NWDB
Number of Identified Exporters to Nigeria from District of Columbia
DCNGAA475SCEN
Number of Identified Exporters to Nigeria from New York
NYNGAA475SCEN
Use of Financial Services, Liabilities: Outstanding Deposits by Households at Other Financial Intermediaries for Nigeria
NGAFCLOFMXDC
Citation
U.S. Federal Reserve, Claims on Private Sector for Nigeria (NGAFDSAOPGDPPT), retrieved from FRED.