Insurance and Financial Services (As % of Service Exports, BoP) in Nigeria

Source: World Bank
Last Updated: September 1, 2025

Insurance and financial services as a percentage of service exports from the balance of payment reached 28.4% in 2024 in Nigeria, according to the National Central Bank / OECD. This is 13.1% more than in the previous year.

Historically, insurance and financial services as a percentage of service exports from the balance of payment in Nigeria reached an all time high of 28.4% in 2024 and an all time low of 0.113% in 2003.

Nigeria has been ranked 3rd within the group of 97 countries we follow in terms of insurance and financial services as a percentage of service exports from the balance of payment.

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