Emerging Opportunities in the Nigerian Consumer Finance Market: Market Size, Strategies, Products and Competitive Landscape: Market Profile

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Emerging Opportunities in the Nigerian Consumer Finance Market: Market Size, Strategies, Products and Competitive Landscape: Market Profile Powered By Docstoc
					                           Emerging Opportunities in the
                           Nigerian Consumer Finance
                           Market: Market Size, Strategies,
                           Products and Competitive
                           Landscape: Market Profile
                           Market Profile
                           Reference code: FS1137MP
BRICdata
                           Published: September 2012
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www.bricdata.com




                                                       www.bricdata.com
 TABLE OF CONTENTS




TABLE OF CONTENTS
1         Sub-Saharan Africa – Consumer Finance Market Benchmarking .................................................... 5
1.1       Sub-Saharan Africa – Consumer Finance Market Dynamics .................................................................. 5
1.1.1     Housing loans .......................................................................................................................................... 6
1.1.2     Personal loans ......................................................................................................................................... 7
1.1.3     Auto loans ................................................................................................................................................ 8
1.1.4     Credit card loans...................................................................................................................................... 9
1.1.5     Education loans ..................................................................................................................................... 10
1.2       Macroeconomic Factors ........................................................................................................................ 11
2         Consumer Finance Market in Nigeria ................................................................................................ 12
2.1       Future Outlook of Consumer Finance in Nigeria ................................................................................... 12
2.2       Nigerian Consumer Finance Market Dynamics ..................................................................................... 14
2.2.1     Macroeconomic fundamentals ............................................................................................................... 14
2.2.2     Consumer attitude towards credit .......................................................................................................... 19
2.2.3     Key performance indicators ................................................................................................................... 20
2.2.4     Regulatory framework ........................................................................................................................... 22
2.3       Nigerian Consumer Finance Market Size and Growth Potential ........................................................... 23
2.3.1     Overview ................................................................................................................................................ 23
2.3.2     Personal loans ....................................................................................................................................... 24
2.3.3     Credit card loans.................................................................................................................................... 25
2.3.4     Auto loans .............................................................................................................................................. 26
2.3.5     Housing loans ........................................................................................................................................ 27
2.3.6     Education loans ..................................................................................................................................... 28
2.4       Key Trends and Growth Drivers for the Nigerian Consumer Finance Market ....................................... 29
2.5       Industry Structure and Competitive Landscape .................................................................................... 31
2.5.1     Market shares of Nigerian banks by asset size ..................................................................................... 33
2.5.2     Company profiles ................................................................................................................................... 34
2.6       Strategies ............................................................................................................................................... 38
2.6.1     Marketing and product strategies .......................................................................................................... 38
2.6.2     Market entry strategies .......................................................................................................................... 39
2.6.3     Growth strategies................................................................................................................................... 40
2.7       Challenges ............................................................................................................................................. 41
3         Appendix .............................................................................................................................................. 43
3.1       About BRICdata ..................................................................................................................................... 43
3.1.1     Exchange rate........................................................................................................................................ 43
3.1.2     Areas of expertise .................................................................................................................................. 43
3.2       Methodology .......................................................................................................................................... 44
3.3       Disclaimer .............................................................................................................................................. 45




Emerging Opportunities in the Nigerian Consumer Finance Market: Market Size, Strategies, Products and
                                                                                                                                                              Page 2
Competitive Landscape: Market Profile
© BRICdata. This product is licensed and is not to be photocopied                                                                   Published: September 2012
  TABLE OF CONTENTS




LIST OF FIGURES
Figure 1: Consumer Finance Market Dynamics in Sub-Saharan African Countries, 2007–2016 .......................................................... 5
Figure 2: Housing Loan Market Dynamics in Sub-Saharan African Countries, 2007–2016 .................................................................. 6
Figure 3: Personal Loans Market Dynamics in Key Sub-Saharan African Countries, 2007–2016 ........................................................ 7
Figure 4: Auto Loans Market Dynamics in Key Sub-Saharan African Countries, 2007–2016 ............................................................... 8
Figure 5: Credit Card Loans Market Dynamics in Key Sub-Saharan African Countries, 2007–2016 .................................................... 9
Figure 6: Education Loans Market Dynamics in Key Sub-Saharan African Countries, 2007–2016 .................................................... 10
Figure 7: Nigerian Consumer Finance Market Outlook (NGN Billion), 2011–2016............................................................................... 13
Figure 8: Nigerian GDP at Constant Prices (US$ Billion), 2007–2016 (Base Year 1999–2000) ........................................................... 14
Figure 9: Nigerian Inflation Rate (%), 2007–2016 ................................................................................................................................... 15
Figure 10: Nigerian FDI Inflow, (US$ Billion), 2007–2010 ...................................................................................................................... 16
Figure 11: Nigerian Urban and Rural Populations, 2007–2016 ............................................................................................................. 17
Figure 12: Nigerian Population (Million), 2007–2016 ............................................................................................................................. 18
Figure 13: Nigerian Banking Industry – Key Financial Metrics (US$ Billion), 2007–2011 ................................................................... 20
Figure 14: Nigerian Banking Industry – Key Financial Metrics (US$ Billion), 2012–2016 ................................................................... 21
Figure 15: Nigerian Consumer Finance Market Size (NGN Billion), 2007–2016 ................................................................................... 23
Figure 16: Nigerian Personal Loans Category Size (NGN Billion), 2007–2016 .................................................................................... 24
Figure 17: Nigerian Credit Cards Loans Category Size (NGN Million), 2007–2016 .............................................................................. 25
Figure 18: Nigerian Auto Loans Category Size (NGN Billion), 2007–2016 ........................................................................................... 26
Figure 19: Nigerian Housing Loans Category Size (NGN Billion), 2007–2016 ..................................................................................... 27
Figure 20: Nigerian Educational Loans Category Size (NGN Billion), 2007–2016 ............................................................................... 28
Figure 21: Nigerian GDP Per Capita, Current Prices (US$ dollars), 2007–2016 ................................................................................... 29
Figure 22: Nigerian Imports of Passenger Cars (Units), 2006–2011 ..................................................................................................... 30
Figure 23: Nigerian Banks’ Market Shares by Asset Size (NGN Billion), 2011 .................................................................................... 33
Figure 24: Nigerian Unemployment Rate, 2007–2011............................................................................................................................ 41
Figure 25: Nigerian Prime Lending Rate, 2007–2011............................................................................................................................. 42




Emerging Opportunities in the Nigerian Consumer Finance Market: Market Size, Strategies, Products and
                                                                                                                                                                             Page 3
Competitive Landscape: Market Profile
© BRICdata. This product is licensed and is not to be photocopied                                                                                 Published: September 2012
  TABLE OF CONTENTS




LIST OF TABLES
Table 1: Sub-Saharan African Countries’ Macroeconomic Conditions, 2011 ...................................................................................... 11
Table 2: Sub-Saharan African Countries’ Macroeconomic Indicators, 2011 ....................................................................................... 11
Table 3: Nigerian Consumer Finance Market Outlook (NGN Billion), 2011–2016 ................................................................................ 12
Table 4: Nigerian GDP at Constant Prices (US$ Billion), 2007–2016 (Base Year 1999–2000) ............................................................. 14
Table 5: Nigerian Inflation Rate (%), 2007–2016 .................................................................................................................................... 15
Table 6: Nigerian Population (Million), 2007–2016................................................................................................................................. 18
Table 7: Nigerian Banking Industry – Key Financial Metrics (US$ Billion), 2007–2011 ....................................................................... 20
Table 8: Nigerian Banking Industry – Key Financial Metrics (US$ Billion), 2012–2016 ....................................................
				
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