Access to Financial Services in Nigeria survey 2010
04 November 2010

In pursuit of our goal of providing credible market information on the Nigerian financial sector, EFInA firstly targeted the nearly vacant space of demand-side data by implementing the first cycle of EFInA Access to Finance Survey in 2008. EFInA has commenced the follow-up 2010 survey.

The primary objective of the EFInA Access to Finance survey is to measure, benchmark, and profile levels of access to financial services by all (adult) Nigerians, rich and poor, located in rural and urban areas - for usage by key stakeholders incorporating policy-makers, regulators, and financial service providers.

The EFInA Access to Finance survey is a nationally representative study of consumers’ perceptions on financial services and issues, which creates insight to how consumers source their income and manage their financial lives. As in 2008, the 2010 survey will cover the adult population (18+) across the 36 States and the Federal Capital Territory, Abuja. The survey target size is 22,200 households. The National Bureau of Statistics (NBS) is working with EFInA on the design of the nationally representative sample framework. The EFInA Access to Finance survey is based on the FinScope methodology.

Specifically, this repeat cycle aims to:

  • Provide a comparison of access to financial services in Nigeria from 2008 to 2010
  • Monitor the potential impact of new financial sector policies on enhancing access to finance
  • Provide insights into regulatory and market obstacles to growth and innovation
  • Improve understanding of the use of and demand for financial services in Nigeria
  • Explore financial behaviour, attitudes, and interests, quality of life and household financial management, attitudes to the use of technology
  • Highlight opportunities for innovation in product development and the need for policy reform and/or intervention
  • Document usage of financial products across both formal and informal sector.

Focus Group Discussions

The first phase of the EFInA Access to Finance Survey entails conducting focus groups across the country (between 8 – 10 FGDs are expected) to get an in-depth understanding of specific issues that were identified by the 2008 survey but which need to be further explored in the 2010 survey.

Key findings from the EFInA Access to Finance 2010 Focus Group Discussions Download here>>

EFInA Access to Financial Services in Nigeria 2010 Survey Results was launched November 4, 2010