Retail Payment Systems
In the OIC Member Countries
112
Table A4. Nigeria: Market Data and Indicators
2000 2005 2010 2011 2012 2015
Financial cards in circulation
- ATM cards (mn cards) 0.5 0.6 0.9 1.0 1.1 1.3
- Debit cards (mn cards) 0.4 0.5 0.7 0.7 0.8 0.9
- Credit cards (mn cards) - 0.1 0.2 0.2 0.2 0.3
- Charge cards (mn cards) 0.2 0.3 0.3 0.3 0.3 0.4
Financial cards' transactions
- ATM cards (US$ mn,
at constant prices)
2,832 4,240 5,254 5,151 5,570 6,483
- Debit cards (US$ mn, at
constant prices)
47 1,168 7,261 7,278 7,967 10,689
- Credit cards (US$ mn, at
constant prices)
1,174 3,031 2,886 3,015 3,364 4,674
- Charge cards (US$ mn, at
constant prices)
1,178 1,834 1,733 1,821 2,020 2,799
Cash transactions (US$ mn, at
constant prices)
25,593 35,898 40,603 42,141 46,223 57,163
Other paper transactions (US$
mn, at constant prices)
1,125 1,410 1,362 1,292 1,330 1,316
Annual savings (NGN mn, at
constant prices)
621,114 942,672 1,224,618 1,127,106 1,141,905 1,280,497
Savings ratio (% of disposable
income)
5.7 4.1 4.2 4.3 4.4 4.5
Annual lending rate (%) 21.3 17.9 17.6 16.0 16.8 -
Consumer lending
- Consumer credit (outstanding
balance) (US$ mn)
7,246 12,105 15,443 16,050 17,601 23,368
-
Mortgages/housing (outstanding
balance) (US$ mn)
15,270 29,860 50,217 51,414 53,226 61,849
Source: National statistics, Euromonitor International