Nigeria Bank Deposit Interest Rate (2023)
Nigeria's Bank Deposit Interest Rate: 7.8 % per annum in 2023, +1.9pp YoY. World Bank (FR.INR.DPST), 1990–2023.
Nigeria (2023)
7.8
% per annum
+1.9pp YoY
YoY Change
+1.9pp
percentage points
Trend
up
Series length
35
years of data
Data
| Year | % per annum | YoY Change |
|---|---|---|
| 2023 | 7.8 | +1.9pp |
| 2022 | 6 | +1.8pp |
| 2021 | 4.2 | -0.4pp |
| 2020 | 4.7 | -4.3pp |
| 2019 | 8.9 | -0.8pp |
| 2018 | 9.7 | +0.2pp |
| 2017 | 9.6 | +2.1pp |
| 2016 | 7.5 | -1.7pp |
| 2015 | 9.2 | -0.2pp |
| 2014 | 9.3 | +1.4pp |
| 2013 | 8 | -0.5pp |
| 2012 | 8.4 | +2.7pp |
| 2011 | 5.7 | -0.8pp |
| 2010 | 6.5 | -6.4pp |
| 2009 | 13 | +1.1pp |
| 2008 | 11.9 | +1.6pp |
| 2007 | 10.3 | +0.5pp |
| 2006 | 9.8 | -0.8pp |
| 2005 | 10.5 | -3.2pp |
| 2004 | 13.7 | n/a |
About this Dataset
Nigeria recorded 7.8 % per annum in 2023. The most recent year-on-year change was +1.9pp. The historical series (1990–2023) shows a peak of 23.2 in 1993 and a trough of 4.2 in 2021.
Data sourced from World Bank Open Data API. Values use World Bank standardised methodology ensuring cross-country comparability.
The chart above shows the full historical trend; the table below lists annual values with year-on-year changes.
Frequently Asked Questions
This indicator tracks nigeria bank deposit interest rate in Nigeria, published by World Bank. Data covers 1990–2023 at annual frequency using harmonised methodology.
The most recent observation covers 2023. World Bank typically publishes this series with a lag of several months after the reference period. Data is updated annual.
The series peaked at 23.2 % per annum in 1993 and reached its lowest recorded value of 4.2 in 2021. The latest reading of 7.8 in 2023 represents a year-on-year change of +1.9pp.