Category: SOE Report

DOWNLOAD REPORT In 2023, Nigeria’s FPS sector delivered improved performance across the nine classified sub-sectors, which include Banking, Insurance, Capital Markets, Asset Management, Pensions, Non-interest Finance, FinTech (Financial Technology), Professional Services and Sustainable Finance. Significant positive impacts on people, businesses and the economy were recorded, despite heightened inflation, increased production costs, exchange rate depreciation and other poor macroeconomic fundamentals. Click to download the report

In 2022, Nigeria’s economy experienced a slowdown in GDP growth to 3.3%, an uptick in inflation to 18.9%, and an increased debt-to-GDP ratio of 23.2%. Despite the economic challenges, the Financial and Professional Services (FPS) sector demonstrated resilience and experienced growth across its subsectors. Click to download the report

Following the pandemic-induced -1.9% contraction in the economy in 2020, Nigeria’s economy enjoyed a growth rate of 3.4% in 2021. This report analyses the supportive, facilitative and central role played by the FPS sector in supporting Nigeria’s positive economic growth and demonstrates the importance of the sector to the economy. Click to download the report