By Izuchukwu Mayor, Lagos
EnterpriseNGR has officially launched the 2025 edition of its State of Enterprise (SOE) Report, a flagship publication providing a comprehensive and data-driven overview of the performance, challenges, and opportunities within Nigeria’s Financial and Professional Services (FPS) sector.
EnterpriseNGR is a professional advocacy group focused on advancing the development of the FPS sector as a critical driver of Nigeria’s economic transformation.
The SOE 2025 Report spans a broad range of the FPS sub-sectors—including Banking, Insurance, Capital markets, Asset management, Pensions, Non-interest finance, FinTech, Professional services, and Sustainable finance.
These insights serve as a vital resource of sector insights for policymakers, investors, business leaders, and development institutions.
Speaking at the media briefing, CEO of EnterpriseNGR, Obi Ibekwe, said: “The SOE Report is not just a data compilation—it is a call to action. It reflects our collective ambition to influence economic transformation through informed policy advocacy and private sector development.
“This report affirms Nigeria’s potential, and more importantly, it points us toward strategic solutions.” Among the key insights from the 2025 report:
- Banking: Electronic payment transactions totalled ₦1.078 quadrillion in 2024, showing Nigeria’s accelerating shift to digital finance.
- Insurance: Gross premiums written is projected to reach ₦1.47 trillion in 2024, while the industry’s total assets increased to ₦3.88 trillion as of Q3 2024.
- Capital Markets: Domestic transactions on the NGX grew by +49.2% from ₦3.17 trillion in 2023 to ₦4.73 trillion in 2024.
- Asset Management: Net asset value of mutual funds reached ₦3.83 trillion in 2024, up by 79.5% from ₦2.13 trillion in 2023.
- Pensions: Nigeria’s pension assets under management stood at ₦22.5 trillion, with ₦340.3 billion paid out in retirement benefits in 2024, up from N302.2 billion in 2023.
- Non-interest Finance: The size of Nigeria’s Non-interest Finance sector estimated at over ₦4.4 trillion in 2024, up from ₦2.5trillion in 2023.
- Fintech: Total mobile payments reached ₦79.55 trillion across 3.9 billion transactions, and Nigeria was ranked 6th globally for robust real-time payment infrastructure in 2023.
- Sustainable Finance: Total green bond stock valued at ₦32.83 billion, with ₦15 billion from the Federal Government and ₦17.83 billion from corporates.
- Professional Services: Over 144,000 legal practitioners and 31,000 chartered accountants are actively supporting businesses.
The SOE Report is not just a data compilation—it is a call to action. It reflects our collective ambition to influence economic transformation through informed policy advocacy and private sector development.
Director of Policy & Public Affairs, Lami Adekola, emphasised the broader relevance of the report: “The SOE 2025 Report provides valuable evidence to support decision-making in government, investment strategy, and private sector growth.
“We see it as a powerful advocacy tool that can help shape Nigeria’s policy priorities going forward.”
On the methodology and scope, Tayo Muritala, Head of Research, added: “We employed a wide coverage of facts and statistics, drawing from official sources, expert insights, and trend analyses across nine FPS sub-sectors. Our goal was to present insights that are relevant, credible, and actionable for stakeholders.”
EnterpriseNGR encourages business leaders, policy stakeholders and Nigerians to engage with the findings and amplify the data-driven solutions that can help reposition Nigeria’s economy for resilience and inclusive growth.
