Nigeria’s Banking Assets Soar to ₦180.37trn, 41.8% of GDP
Nigeria’s Deposit Money Banks recorded total assets of ₦180.37 trillion, representing 41.8% of the country’s GDP, in the 2026 State of Enterprise Report. The Financial and Professional Services sector stayed resilient despite inflation, tight monetary policy, exchange rate shifts and ongoing reforms. The financial and insurance industry led Company Income Tax contributions with ₦1.50 trillion and added ₦421 billion in VAT. The Nigerian capital market rallied strongly, with the NGX All-Share Index up 51.19% in 2025 and market capitalisation rising to ₦129.21 trillion by Q1 2026. Insurance premiums grew 47.3% to ₦2.30 trillion, and pension assets climbed to ₦29.52 trillion in Q1. Nigeria remains Africa’s leading fintech hub with over 500 firms valued at $10.6 billion, while electronic payments reached ₦384 trillion across 4.12 billion transactions. EnterpriseNGR’s CEO says the report will guide investors and policymakers on where confidence is returning and where further reforms are needed.
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