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Financial decision-maker sentiment: Nigeria

An ongoing look at how the attitudes of financial decision makers in Nigeria are evolving during the COVID-19 pandemic.

Almost all financial decisions makers in Nigeria view the current state of the economy as neutral or weak. Though most consumers rate their current financial situation as weak or somewhat weak, more than half expect it to improve in three months. Job security concerns exist for 70 percent and household income and savings have decreased over the past month for the majority. Sentiment towards banks during the crisis is net negative and consumers would like more ease securing a line of credit.

About the author(s)

Francois Jurd de Girancourt is partner in McKinsey’s Casablanca office, Michael Panek is a specialist in the New York office, and Frederick Twum is a partner in the Lagos office.

The authors would like to thank Harshit Gupta and Lakshay Piplani for their contributions to this article.

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