Consumer Credit in Nigeria

Demand for formal consumer credit in Nigeria continues to be affected by low access to credit among households operating within the informal economy. Although the government lifted restrictions on foreign-denominated cards in 2023, the ongoing depreciation of the Naira dampened demand for foreign-denominated credit cards. The situation was exacerbated by rising interest rates from the Central Bank to tackle rising inflation. Higher interest rates effectively reduced demand for large loans, inclu...

Euromonitor International's Consumer Credit in Nigeria report establishes the size and structure of the market for ATMs cards, smart cards, credit cards, debit cards, charge cards, pre-paid cards and store cards. It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.

Product coverage: Auto Lending, Card Lending, Durables Lending, Education Lending, Home Lending, Other Personal Lending.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?
* Get a detailed picture of the Consumer Credit market;
* Pinpoint growth sectors and identify factors driving change;
* Understand the competitive environment, the market’s major players and leading brands;
* Use five-year forecasts to assess how the market is predicted to develop.