Nigeria vs OECD members: Insurance and financial services
Insurance and financial services over time
- Nigeria
- OECD members
How they compare
Nigeria currently reports 25.3% against 11.9% in OECD members, a difference of 13.4%.
That makes Nigeria's figure about 2.1 times OECD members's.
The two have swapped places 7 times across 49 shared years of data; in 1977 it was OECD members ahead.
Nigeria ranks 8th and OECD members ranks 5th of 190 countries.
Across the 6 decades both report, Nigeria averaged higher in 2 and OECD members in 4.
Head to head by decade
| Decade | Nigeria | OECD members | Difference | Ahead |
|---|---|---|---|---|
| 1970s | 4.4% | 2.8% | 1.5% | Nigeria |
| 1980s | 3.3% | 4.8% | 1.6% | OECD members |
| 1990s | 0.6% | 6.6% | 6.0% | OECD members |
| 2000s | 0.7% | 10.3% | 9.5% | OECD members |
| 2010s | 7.0% | 10.7% | 3.6% | OECD members |
| 2020s | 26.0% | 11.5% | 14.4% | Nigeria |
Averages of every year both report within each decade.
Frequently asked questions
- Which has higher insurance and financial services, Nigeria or OECD members?
- Nigeria, at 25.3% against 11.9% in OECD members as of 2025.
- What is the difference in insurance and financial services between Nigeria and OECD members?
- 13.4%, with Nigeria ahead.
- How many years of comparable data are there for Nigeria and OECD members?
- 49 years are reported by both, from 1977 to 2025.
- How do Nigeria and OECD members rank globally for insurance and financial services?
- Nigeria ranks 8th and OECD members ranks 5th of 190 countries.
- Where does this data come from?
- Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as Insurance and financial services (% of commercial service exports). Statizoid refreshes it automatically from the source and publishes the full history for both places.
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About this data
Financial services covers services related to financial intermediation, financial risk management, liquidity transformation or auxiliary financial activities. It also includes insurance and pension scheme services which are services related to providing life insurance and annuities, non-life insurance, reinsurance, pensions, standardised guarantees and auxiliary services to insurance, pension schemes, and standardised guarantee schemes. This indicator is expressed as a percentage of service exports which are commercial services provided by residents to non-residents.