Using robust survey data and a range of expert analytical tools, we built a model to estimate the market size and market potential for the consumer credit market in Nigeria. This can help fund managers, investors, and business operators stay ahead.
Market size is defined as the current total consumer loans dispersed within the Nigerian consumer credit market, which we estimate to be $2.1 billion. On the other hand, market potential represents the additional loans that could be dispersed in the market under different economic conditions.
By accurately quantifying these figures, users can make better-informed decisions about current and future investments in the industry. From our current baseline estimates of credit borrowing, our model predicts an additional potential of up to 30%, indicating positive opportunities that remain untapped.
To provide additional context and help users better manage risk, we have also offered scenario analysis, which can be a proxy for
