The benchmark interest rate in Nigeria was last recorded at 27 percent. This dataset provides - Nigeria Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Nigeria: Real interest rate: Bank lending rate minus inflation: The latest value from 2023 is 1.23 percent, an increase from 0.92 percent in 2022. In comparison, the world average is 4.29 percent, based on data from 87 countries. Historically, the average for Nigeria from 1970 to 2023 is -1.13 percent. The minimum value, -65.86 percent, was reached in 1981 while the maximum of 18.18 percent was recorded in 2009.

Actual value and historical data chart for Nigeria Real Interest Rate Percent

Nigeria NG: Real Interest Rate data was reported at 5.817 % pa in 2017. This records a decrease from the previous number of 6.685 % pa for 2016. Nigeria NG: Real Interest Rate data is updated yearly, averaging 1.569 % pa from Dec 1970 (Median) to 2017, with 47 observations. The data reached an all-time high of 25.282 % pa in 1998 and a record low of -43.573 % pa in 1995. Nigeria NG: Real Interest Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Nigeria – Table NG.World Bank.WDI: Interest Rates. Real interest rate is the lending interest rate adjusted for inflation as measured by the GDP deflator. The terms and conditions attached to lending rates differ by country, however, limiting their comparability.; ; International Monetary Fund, International Financial Statistics and data files using World Bank data on the GDP deflator.; ;

Key information about Nigeria Short Term Interest Rate

• Nigeria Short Term Interest Rate: Month End: NIBOR: 3 Months was reported at 26.36 % pa in Oct 2025, compared with 26.29 % pa in the previous month.
• Nigeria Short Term Interest Rate data is updated monthly, available from Jan 2010 to Oct 2025.
• The data reached an all-time high of 259,180.00 % pa in Dec 2023 and a record low of 9,268.00 % pa in Dec 1964.
• Short Term Interest Rate is reported by reported by Financial Markets Dealers Association.
• The cash rate (Policy Rate: Month End) was set at 27.00 % pa in Nov 2025.
• Nigeria Exchange Rate against USD averaged 1,443.35 (USD/NGN) in Nov 2025.

Interest rate spread of Nigeria slipped by 3.13% from 6.37 % in 2022 to 6.17 % in 2023. Since the 38.90% surge in 2020, interest rate spread sank by 31.39% in 2023. Interest rate spread is the interest rate charged by banks on loans to prime customers minus the interest rate paid by commercial or similar banks for demand, time, or savings deposits.

Lending interest rate (%) in Nigeria was reported at 14.01 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Nigeria - Lending interest rate - actual values, historical data, forecasts and projections were sourced from the World Bank on November of 2025.

Key information about Nigeria Policy Rate

• Nigeria cash rate (Policy Rate: Month End) was set at 27.00 % pa in Nov 2025, compared with 27.00 % pa in the previous Oct 2025.
• Nigeria Policy Rate averaged 11.00 % pa and is updated monthly, available from Jan 2006 to Nov 2025.
• The data reached an all-time high of 27.50 % pa in Aug 2025 and a record low of 6.00 % pa in Aug 2010.

• In the latest reports, Nigeria Short Term Interest Rate: Month End: NIBOR: 3 Months was reported at 26.36 % pa in Oct 2025.
• Nigeria Exchange Rate against USD averaged 1,443.35 (USD/NGN) in Nov 2025.
• Its Real Effective Exchange Rate was 96.46 in Sep 2025.

Forecast: Bank Lending Interest Rate in Nigeria 2024 - 2028 Discover more data with ReportLinker!

Deposit Interest Rate in Nigeria decreased to 11.32 percent in October from 12.29 percent in September of 2025. This dataset includes a chart with historical data for Deposit Interest Rate in Nigeria.

Nigeria NG: Lending Interest Rate data was reported at 17.580 % pa in 2017. This records an increase from the previous number of 16.867 % pa for 2016. Nigeria NG: Lending Interest Rate data is updated yearly, averaging 16.849 % pa from Dec 1970 (Median) to 2017, with 47 observations. The data reached an all-time high of 31.650 % pa in 1993 and a record low of 6.000 % pa in 1977. Nigeria NG: Lending Interest Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Nigeria – Table NG.World Bank.WDI: Interest Rates. Lending rate is the bank rate that usually meets the short- and medium-term financing needs of the private sector. This rate is normally differentiated according to creditworthiness of borrowers and objectives of financing. The terms and conditions attached to these rates differ by country, however, limiting their comparability.; ; International Monetary Fund, International Financial Statistics and data files.; ;

Lending Rate in Nigeria increased to 18.89 percent in October from 11.90 percent in September of 2025. This dataset provides - Nigeria Lending Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

View yearly updates and historical trends for Nigeria Lending Interest Rate. Source: World Bank. Track economic data with YCharts analytics.

Nigeria NG: Deposit Interest Rate data was reported at 9.554 % pa in 2017. This records an increase from the previous number of 7.497 % pa for 2016. Nigeria NG: Deposit Interest Rate data is updated yearly, averaging 9.339 % pa from Dec 1970 (Median) to 2017, with 47 observations. The data reached an all-time high of 23.242 % pa in 1993 and a record low of 2.667 % pa in 1976. Nigeria NG: Deposit Interest Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Nigeria – Table NG.World Bank.WDI: Interest Rates. Deposit interest rate is the rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability.; ; International Monetary Fund, International Financial Statistics and data files.; ;

6.17 (%) in 2023. Interest rate spread is the interest rate charged by banks on loans to prime customers minus the interest rate paid by commercial or similar banks for demand, time, or savings deposits.

Actual value and historical data chart for Nigeria Deposit Interest Rate Percent

Description of variables lnRGDP = Log of Real Gross Domestic Product INR = interest rate lnFDI = Log of Foreign Direct Investment INR_FDI = interaction between interest rate and foreign direct investment lnGDI = Log of Gross Domestic Investment lnLAB = Log of Labour force participation rate lnOPEN = Log of index of openness lnELEC = Log of electricity consumption per capita lnEXR = Log of real exchange rate

Nigeria NG: Risk Premium on Lending: Lending Rate Minus Treasury Bill Rate data was reported at 6.753 % pa in 2016. This records a decrease from the previous number of 7.455 % pa for 2015. Nigeria NG: Risk Premium on Lending: Lending Rate Minus Treasury Bill Rate data is updated yearly, averaging 6.753 % pa from Dec 1992 (Median) to 2016, with 25 observations. The data reached an all-time high of 14.577 % pa in 2009 and a record low of 2.473 % pa in 1999. Nigeria NG: Risk Premium on Lending: Lending Rate Minus Treasury Bill Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Nigeria – Table NG.World Bank: Interest Rates. Risk premium on lending is the interest rate charged by banks on loans to private sector customers minus the 'risk free' treasury bill interest rate at which short-term government securities are issued or traded in the market. In some countries this spread may be negative, indicating that the market considers its best corporate clients to be lower risk than the government. The terms and conditions attached to lending rates differ by country, however, limiting their comparability.; ; International Monetary Fund, International Financial Statistics database.; ;

The 'Interest Rate Decision' in Nigeria refers to the Central Bank of Nigeria's (CBN) determination of the benchmark interest rate, known as the Monetary Policy Rate (MPR).-2025-05-20

Interest rate spread (lending rate minus deposit rate, %) in Nigeria was reported at 6.172 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Nigeria - Interest rate spread (lending rate minus deposit rate, %) - actual values, historical data, forecasts and projections were sourced from the World Bank on November of 2025.