A new survey by Enhancing Financial Inclusion & Advancement (EFInA) shows that 61% of Nigerian adults are currently in financial distress. The Access to Financial Services in Nigeria (A2F) 2026 report, released in Abuja on Wednesday, found that 71.6% of adults facing economic shocks relied on fragile coping methods, compared to just 13.8% who used protective strategies.
Exclusion Concentrated Among the PoorOverall financial exclusion fell to 21%, but 53% of the poorest Nigerians remain excluded, versus just 1% of the wealthiest. Nearly half of all excluded adults are in the bottom income bracket — showing poverty, not location, drives exclusion.
Digital and Mobile Money Usage SoarsDigital financial usage rose from 47% to 64%, while mobile money use more than tripled, from 12% to 38%, now commonly used for bills, purchases, and transfers.
Savings Grow, but Credit and Insurance LagFormal savings rose from 38% to 53%, while credit (10%), insurance (5%), and pensions (9%) remain low — showing Nigerians are saving more than they’re protecting or investing.
Farmers Hit HardEFInA CEO Foyinsolami Akinjayeju noted that 51.2% of farmers experienced shocks, with 76% reporting lasting financial distress, linking agricultural livelihoods closely to savings, credit, and climate resilience.
