Nigeria Consumer Lending Remains Developing Category, States Euromonitor in Its New Research Report Available at MarketPublishers.com
09 Jan 2018 • by Natalie Aster
LONDON – Consumer credit in Nigeria remains a developing category that is yet to mature as the overwhelming majority of the population does not have a chance to obtain credit. This is primarily owing to the majority of consumers do not earn above-average salaries that are stable, with the informal sector of employment remaining on a quite high level.
Personal loans show the best performance in the country as they are preferred by consumers and banks alike. Banks opt for shorter term loans that will back quickly return on investment, like overdraft and other personal loans.
The projected period is anticipated to witness a growth decline owing to the sluggish shift from cash economy and carry to a consumer loan economy in tandem with ambiguity of the tax and macroeconomic conditions and consumers’ payment-worthiness.
Comprehensive research report “Consumer Lending in Nigeria” drawn up by Euromonitor offers a detailed, unprejudiced analysis of the market on a national level.
The study sheds light on the most recent market trends and gives insights into the future growth potential of the consumer lending sector. It provides details about the existing capacity for consumer debt, reviews the status of credit quality in the marketplace. The report presents an assessment of key industry trends, opportunities and threats. The report offers an analysis of major demand-side and supply trends; provides historical volume and value figures. It provides a competitive analysis of market leaders. Furthermore, the report provides 5-year projections of market trends and growth.
Obtain access to a complete collection of the publisher’s market research reports at Euromonitor page.