Table 1 Level of regional financial inclusion in Nigeria.
From: Electronic payment adoption and consumers’ spending growth: empirical evidence from Nigeria
Region | Finance access | 2012 | 2014 | 2016 |
|---|---|---|---|---|
Total adult population | 13 m | 14 m | 14 m | |
North Central | Formally included | 48% | 49% | 48% |
Informal only | 20% | 19% | 14% | |
Financially excluded | 32% | 33% | 39% | |
Total adult population | 11 m | 11 m | 12 m | |
North East | Formally included | 26% | 26% | 25% |
Informal only | 15% | 5% | 14% | |
Financially excluded | 60% | 68% | 62% | |
Total adult population | 19 m | 21 m | 22 m | |
North West | Formally included | 23% | 34% | 24% |
Informal only | 14% | 9% | 6% | |
Financially excluded | 64% | 56% | 70% | |
Total adult population | 12 m | 12 m | 12 m | |
South East | Formally included | 52% | 63% | 59% |
Informal only | 22% | 11% | 13% | |
Financially excluded | 26% | 25% | 28% | |
Total adult population | 19 m | 20 m | 21 m | |
South West | Formally included | 58% | 63% | 73% |
Informal only | 18% | 13% | 4% | |
Financially excluded | 25% | 25% | 18% | |
Total adult population | 14 m | 15 m | 16 m | |
South–South | Formally included | 52% | 52% | 54% |
Informal only | 18% | 15% | 14% | |
Financially excluded | 30% | 33% | 31% |