The Nigeria’s Credit Landscape Report 2025 has revealed a striking paradox in the nation’s financial ecosystem, showing that while more Nigerians are becoming financially included, only about six per cent of adults currently access credit through formal financial institutions.
Published by Credit Direct in June 2026, the report highlights that although more than 64 per cent of Nigerian adults are financially included, formal credit penetration remains significantly low.
Credit to the Nigerian private sector stands at just 13.1 per cent of the Gross Domestic Product, well below peer African economies such as Kenya and South Africa.
The findings point to persistent barriers to credit access for households, entrepreneurs and small businesses, despite improving economic conditions and growing business activity across key sectors of the economy.
The report also notes that Nigeria’s real sector recorded sustained expansion throughout 2025, with manufacturing, services and agriculture posting positive growth indicators, creating increased demand for working capital and business financing.
