Nigeria's net domestic credit (current LCU) was 87.72 trillion in 2023, the latest year in the World Bank's World Development Indicators. That is up 411.77% from 17.14 trillion in 2013 (17.74% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 87.72 trillion | 2023 |
| Five years earlier | 28.45 trillion | 2018 |
| Ten years earlier | 17.14 trillion | 2013 |
| Highest | 87.72 trillion | 2023 |
| Lowest | -314 million | 1974 |
| Average since 2014 | 40.2 trillion | 2014–2023 |
| First recorded | 53.5 million |
What the numbers say
In 2023, Nigeria's net domestic credit (current LCU) rose 21.59 trillion on 2022 (from 66.12 trillion to 87.72 trillion).
Across the 30 yearly changes before that (1993 to 2022), the average change was +2.2 trillion and a typical year strayed about 3.69 trillion from that (the standard deviation). This year's change was 5.3 standard deviations above that average, so it was unusually large compared with the rest of the record.
On record, the biggest yearly rise was 21.59 trillion in 2023 and the biggest yearly fall was 873.77 billion in 2017. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2014 to 2023 the straight-line trend is upward, about 6.65 trillion a year. A straight line explains 84% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2023, Nigeria had the 1st highest value of the 13 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to Nigeria in the 2023 ranking
- Congo, Dem. Rep. — 2nd of 13: 23.76 trillion
- Germany — 3rd of 13: 6.05 trillion
- Italy — 4th of 13: 3.04 trillion
What this measures
Net domestic credit is the sum of net claims on the central government and claims on other sectors of the domestic economy. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.
All 64 values
| Year | Net domestic credit (current LCU) |
|---|---|
| 2023 | 87,719,530,284,509 |
| 2022 | 66,124,705,789,483 |
| 2021 | 48,683,323,564,537 |
| 2020 | 41,383,172,984,533 |
| 2019 | 36,714,883,345,000 |
| 2018 | 28,453,030,546,765 |
| 2017 | 25,956,121,035,475 |
| 2016 | 26,829,891,614,944 |
| 2015 | 21,330,766,174,150 |
| 2014 | 18,798,434,103,587 |
Net domestic credit (current LCU) in nearby economies
- Angola — 17.9 trillion (2025)
- Benin — 3.35 trillion (2025)
- Botswana — 119.01 billion (2025)
- Burkina Faso — 5.09 trillion (2025)
- Burundi — 2.81 trillion (2019)
- Cabo Verde — 195.38 billion (2025)
- Cameroon — 4.4 trillion (2019)
- Central African Republic — 318.11 billion (2016)
- Chad — 1.49 trillion (2016)
- Comoros — 157.23 billion (2024)
- Congo, Dem. Rep.
More financial sector data for Nigeria
- Broad money (current LCU) — 126.82 trillion (2025)
- Broad money (% of GDP) — 28.72% (2025)
- Broad money to total reserves ratio — 1.81 (2025)
- Consumer price index (2010 = 100) — 860.32 (2025)
- Inflation, consumer prices (annual % growth) — 23.01% (2025)
- GDP deflator (base year varies by country) — 194.92 (2025)
- DEC alternative conversion factor (LCU per US$) — US$1,518 (2025)
- Official exchange rate (LCU per US$, period average) — US$1,518 (2025)
- Broad money (annual % growth) — 11.87% (2025)
- Inflation, GDP deflator (annual % growth)
Reading data like this
Questions people ask
- What is Nigeria's net domestic credit (current LCU)?
- 87.72 trillion in 2023, according to the World Bank (World Development Indicators).
- How has it changed since 1960?
- It is up 163.96 million% from 53.5 million in 1960 (25.5% a year on average, compounded). The highest value was 87.72 trillion in 2023 and the lowest -314 million in 1974.
- How does Nigeria rank?
- 1st highest of 13 economies with data for 2023.
- Is the latest change in net domestic credit (current LCU) unusual for Nigeria?
- In 2023, Nigeria's net domestic credit (current LCU) rose 21.59 trillion on 2022 (from 66.12 trillion to 87.72 trillion). Across the 30 yearly changes before that (1993 to 2022), the average change was +2.2 trillion and a typical year strayed about 3.69 trillion from that (the standard deviation). This year's change was 5.3 standard deviations above that average, so it was unusually large compared with the rest of the record.
Source
World Bank, World Development Indicators, indicator FM.AST.DOMS.CN, licensed CC BY 4.0. Original source: International Financial Statistics database, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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