Nigeria’s digital credit access below 20% — NITDA

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Fewer than 20% of Nigerian adults have accessed digital credit despite high bank account ownership, a new NITDA report reveals, highlighting investment gap Read More:…

Fewer than 20 per cent of Nigerian adults have accessed digital credit, despite more than 80 per cent having bank accounts, highlighting a significant gap in financial services that technology investors could exploit, according to a National Information Technology Development Agency report.

The Nigeria Tech Outlook Report, launched by the NITDA Director-General, Kashifu Abdullahi, on the sidelines of the Digital Nigeria International Conference and Exhibition, also found that although more than 80 per cent of Nigerians had used telemedicine at some point, fewer than 20 per cent had actually accessed the service, pointing to significant unmet demand in the country’s healthcare sector.

The findings identify healthcare, financial services and digital devices as areas with considerable investment potential, giving investors data on market opportunities, service-delivery gaps and the extent of technology adoption across the country.

Speaking at the launch, Abdullahi said Nigeria had long depended on data from the World Bank and other international institutions to inform decisions in the technology sector, stressing the need for reliable, locally generated statistics to support policy formulation, investment and regulation.

He said the country needed its own baseline data to understand the technology sector and guide its development, adding that NITDA had been working with the National Bureau of Statistics to develop a more comprehensive understanding of the industry.

The director-general said both institutions needed to continue co-creating the data required to track Nigeria’s digital transformation, noting that providing such information formed part of NITDA’s responsibility to create an enabling environment for investment and innovation in the technology sector.

Abdullahi also called for a broader understanding of the digital economy, arguing that conventional measurements, which largely capture the Information and Communications Technology sector’s contribution to gross…

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