Consumer Lending in Nigeria
Euromonitor International
December 2020

List OF CONTENTS AND TABLES

EXECUTIVE SUMMARY
COVID-19 impact on consumer lending
COVID-19 country impact
Despite sanctions, many lenders unable to maintain LDR stipulated by Central Bank of Nigeria
Financially-restricted consumers increasingly turn to alternative lenders and fintech players for loans
Ongoing weak performance for mortgages/housing in terms of gross lending
What next for consumer lending?
MARKET DATA
Table 1 Consumer Lending: Outstanding Balance by Category: Value 2015-2020
Table 2 Consumer Lending: Outstanding Balance by Category: % Value Growth 2015-2020
Table 3 Consumer Lending: Gross Lending by Category: Value 2015-2020
Table 4 Consumer Lending: Gross Lending by Category: % Value Growth 2015-2020
Table 5 Consumer Lending: Non-performing vs Other Loans Outstanding Balance: % Value 2015-2020
Table 6 Mortgages/Housing: Non-performing vs Other Loans Outstanding Balance: % Value 2015-2020
Table 7 Consumer Credit: Non-performing vs Other Loans Outstanding Balance: % Value 2015-2020
Table 8 Card Lending: Non-performing vs Other Loans Outstanding Balance: % Value 2015-2020
Table 9 Forecast Consumer Lending: Outstanding Balance by Category: Value 2020-2025
Table 10 Forecast Consumer Lending: Outstanding Balance by Category: % Value Growth 2020-2025
Table 11 Forecast Consumer Lending: Gross Lending by Category: Value 2020-2025
Table 12 Forecast Consumer Lending: Gross Lending by Category: % Value Growth 2020-2025
DISCLAIMER
GLOBAL MACROECONOMIC ENVIRONMENT
GLOBAL INDUSTRY ENVIRONMENT
SOURCES
Summary 1 Research Sources
KEY DATA FINDINGS
2020 IMPACT
Pandemic forces Nigerians to turn to consumer credit due to decreasing household incomes, but banks grow increasingly cautious
Dominant other personal lending is strongest performer in Nigerian consumer credit
Fintechs likely to push mainstream financial service providers to explore more innovative approach to lending
RECOVERY AND OPPORTUNITIES
Other personal lending to drive positive performance predicted for consumer credit over forecast period as outlook for economy improves
Card lending also set to gain growth momentum as next viable form of consumer credit in Nigeria
Further potential for mainstream banks to expand to compete with fintech offers
CATEGORY DATA
Table 13 Consumer Credit: Outstanding Balance by Category: Value 2015-2020
Table 14 Consumer Credit: Outstanding Balance by Category: % Value Growth 2015-2020
Table 15 Consumer Credit: Gross Lending by Category: Value 2015-2020
Table 16 Consumer Credit: Gross Lending by Category: % Value Growth 2015-2020
Table 17 Forecast Consumer Credit: Outstanding Balance by Category: Value 2020-2025
Table 18 Forecast Consumer Credit: Outstanding Balance by Category: % Value Growth 2020-2025
Table 19 Forecast Consumer Credit: Gross Lending by Category: Value 2020-2025
Table 20 Forecast Consumer Credit: Gross Lending by Category: % Value Growth 2020-2025