Nigeria Bank Deposit Interest Rate (2023)
Nigeria's Bank Deposit Interest Rate: 7.8 % per annum in 2023, +1.8pp YoY. World Bank (FR.INR.DPST), 1974–2023.
Nigeria (2023)
7.8
% per annum
+1.8pp YoY
YoY Change
+1.8pp
percentage points
Trend
up
Series length
50
years of data
Data
| Year | % per annum | YoY Change |
|---|---|---|
| 2023 | 7.8 | +1.8pp |
| 2022 | 6 | +1.8pp |
| 2021 | 4.2 | -0.4pp |
| 2020 | 4.6 | -4.3pp |
| 2019 | 8.9 | -0.8pp |
| 2018 | 9.7 | +0.1pp |
| 2017 | 9.6 | +2.1pp |
| 2016 | 7.5 | -1.6pp |
| 2015 | 9.1 | -0.2pp |
| 2014 | 9.3 | +1.4pp |
| 2013 | 7.9 | -0.5pp |
| 2012 | 8.4 | +2.7pp |
| 2011 | 5.7 | -0.8pp |
| 2010 | 6.5 | -6.5pp |
| 2009 | 13 | +1.1pp |
| 2008 | 11.9 | +1.6pp |
| 2007 | 10.3 | +0.5pp |
| 2006 | 9.8 | -0.7pp |
| 2005 | 10.5 | -3.2pp |
| 2004 | 13.7 | -0.5pp |
About this Dataset
Nigeria recorded 7.8 % per annum in 2023. The latest change was +1.8pp. Across 1974–2023 the series ranges from 2.7 in 1976 to 23.2 in 1993.
This page tracks the benchmark bank deposit interest rate in Nigeria from 1990 to present. The spread between lending and deposit rates is a core measure of bank profitability and financial system efficiency.
Data sourced from World Bank via Open Data API. Values use World Bank standardised methodology intended for cross-country comparison.
Frequently Asked Questions
This page tracks the benchmark bank deposit interest rate in Nigeria from 1990 to present. The spread between lending and deposit rates is a core measure of bank profitability and financial system efficiency. It is published by World Bank and updated annually.
The most recent observation covers 2023. World Bank typically publishes this series with a lag of several months after the reference period. The series runs 1974–2023 (50 observations).
The series peaked at 23.2 % per annum in 1993 and reached its lowest recorded value of 2.7 in 1976. The latest reading of 7.8 in 2023 represents a change of +1.8pp.