Nigeria NG: External Debt: Average Interest on New External Debt Commitments data was reported at 5.680 % in 2017. This records an increase from the previous number of 1.396 % for 2016. Nigeria NG: External Debt: Average Interest on New External Debt Commitments data is updated yearly, averaging 4.460 % from Dec 1970 (Median) to 2017, with 48 observations. The data reached an all-time high of 11.202 % in 1981 and a record low of 0.000 % in 1999. Nigeria NG: External Debt: Average Interest on New External Debt Commitments 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: External Debt: Terms and Undisbursed Debt. Interest represents the average interest rate on all new public and publicly guaranteed loans contracted during the year. To obtain the average, the interest rates for all public and publicly guaranteed loans have been weighted by the amounts of the loans. Public debt is an external obligation of a public debtor, including the national government, a political subdivision (or an agency of either), and autonomous public bodies. Publicly guaranteed debt is an external obligation of a private debtor that is guaranteed for repayment by a public entity.; ; World Bank, International Debt Statistics.; Weighted average;

Nigeria NG: External Debt: Average Interest on New External Debt Commitments: Private data was reported at 7.226 % in 2017. This records an increase from the previous number of 0.000 % for 2016. Nigeria NG: External Debt: Average Interest on New External Debt Commitments: Private data is updated yearly, averaging 2.307 % from Dec 1970 (Median) to 2017, with 48 observations. The data reached an all-time high of 11.568 % in 1981 and a record low of 0.000 % in 2016. Nigeria NG: External Debt: Average Interest on New External Debt Commitments: Private 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: External Debt: Terms and Undisbursed Debt. Interest represents the average interest rate on all new public and publicly guaranteed loans contracted during the year. To obtain the average, the interest rates for all public and publicly guaranteed loans have been weighted by the amounts of the loans. Debt from private creditors include bonds that are either publicly issued or privately placed; commercial bank loans from private banks and other private financial institutions; and other private credits from manufacturers, exporters, and other suppliers of goods, and bank credits covered by a guarantee of an export credit agency.; ; World Bank, International Debt Statistics.; Weighted average;

Nigeria inflation rate for 2023 was 24.66%, a 5.81% increase from 2022.

<ul style='margin-top:20px;'>

<li>Nigeria inflation rate for 2022 was <strong>18.85%</strong>, a <strong>1.89% increase</strong> from 2021.</li>
<li>Nigeria inflation rate for 2021 was <strong>16.95%</strong>, a <strong>3.71% increase</strong> from 2020.</li>
<li>Nigeria inflation rate for 2020 was <strong>13.25%</strong>, a <strong>1.85% increase</strong> from 2019.</li>
</ul>Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.

Key information about Nigeria Exchange Rate against USD

• Nigeria Exchange Rate against USD averaged 460.702 (USD/NGN) in May 2023, compared with 460.418 USD/NGN in the previous month.
• Nigeria Exchange Rate against USD data is updated monthly, available from Jan 1957 to May 2023.
• The data reached an all-time high of 460.702 in May 2023 and a record low of 0.530 in Nov 1980.

• In the latest reports, Nigeria Short Term Interest Rate: Month End: NIBOR: 3 Months was reported at 12.570 % pa in May 2023.
• The cash rate (Policy Rate: Month End) was set at 18.500 % pa in May 2023.