Less Than 20% of Nigerian Adults Access Digital Credit, NITDA Reports

According to a report from the National Information Technology Development Agency (NITDA), fewer than 20 percent of adults in Nigeria have accessed digital credit. This is surprising given that over 80 percent of adults have bank accounts. The report highlights a major gap in financial services that could be an opportunity for technology investors.

The report was launched by NITDA’s Director-General, Kashifu Abdullahi, during the Digital Nigeria International Conference and Exhibition. It also found that while more than 80 percent of Nigerians have used telemedicine, less than 20 percent have actually accessed these services, indicating a strong demand for better healthcare options.

Abdullahi emphasized the need for reliable local data to guide decisions in the technology sector, rather than relying solely on international sources like the World Bank. He stated that NITDA has been working with the National Bureau of Statistics to create a clearer picture of Nigeria’s technology landscape.

He pointed out that traditional measurements often miss how technology impacts various industries, such as finance and media. A broader approach is needed to understand technology’s role in the economy and to find areas where innovation can solve existing problems.

Abdullahi noted that health technology is a promising area for investment, as many Nigerians are willing to pay for quality healthcare. He explained that digital technology could help small businesses access loans more easily by providing financial institutions with better information about their creditworthiness.

The report aims to help investors identify market opportunities and areas where services are lacking. Abdullahi mentioned that the Nigeria Tech Outlook Report will be published annually, with the next edition expected by June 2027. NITDA plans to create an interactive portal for citizens and investors to access information and provide feedback.

Prince Adeyemi Adeniran, the Statistician-General of the Federation, called the report a significant step in addressing Nigeria’s technology data gap. He stated that it offers a reliable source of information on how Nigerians use technology, which is essential for national planning and development.