{"version":1,"asset_type":"statistical_series","data_type":"time_series","slug":"ng-deposit-interest-rate","url":"https://apiardata.com/statistics/ng-deposit-interest-rate","html_url":"https://apiardata.com/statistics/ng-deposit-interest-rate/","title":"Nigeria Bank Deposit Interest Rate (2023)","description":"Nigeria's Bank Deposit Interest Rate: 7.8 % per annum in 2023, +1.8pp YoY. World Bank (FR.INR.DPST), 1974–2023.","domain":"markets","category":"Financial Markets","keywords":["Financial Markets","World Bank","Nigeria","2023"],"publisher":"World Bank","frequency":"Annual","geography":"Nigeria","temporal_coverage":"1974/2023","unit":"% per annum","last_updated":"2026-07-26","last_updated_text":"26 July 2026","data_as_of":"2023","variable_measured":"Nigeria Bank Deposit Interest Rate","license":"https://apiardata.com/data-license","is_accessible_for_free":true,"sources":[{"name":"World Bank","url":"https://data.worldbank.org/indicator/FR.INR.DPST?locations=NG"}],"meta":[{"label":"Frequency","value":"Annual"},{"label":"Coverage","value":"1974–2023"},{"label":"Observations","value":"50"},{"label":"Geography","value":"Nigeria"},{"label":"Last updated","value":"26 July 2026"}],"kpis":[{"label":"Nigeria (2023)","value":"7.8","unit":"% per annum","trend":{"direction":"up","value":"+1.8pp YoY"}},{"label":"YoY Change","value":"+1.8pp","unit":"percentage points"},{"label":"Trend","value":"up","unit":""},{"label":"Series length","value":"50","unit":"years of data"}],"series":[{"key":"value","label":"Nigeria Bank Deposit Interest Rate"}],"observation_count":50,"observations":[{"period":"1974","value":3},{"period":"1975","value":3},{"period":"1976","value":2.66666666666667},{"period":"1977","value":2.83333333333333},{"period":"1978","value":4.14583333333333},{"period":"1979","value":4.46041666604167},{"period":"1980","value":5.26666666633333},{"period":"1981","value":5.715833333},{"period":"1982","value":7.59999999958333},{"period":"1983","value":7.41166666591667},{"period":"1984","value":8.25416666658333},{"period":"1985","value":9.11666666583333},{"period":"1986","value":9.235},{"period":"1987","value":13.0875},{"period":"1988","value":12.95},{"period":"1989","value":14.675},{"period":"1990","value":19.7833333333333},{"period":"1991","value":14.9166666666667},{"period":"1992","value":18.0416666666667},{"period":"1993","value":23.2416666666667},{"period":"1994","value":13.0916666666667},{"period":"1995","value":13.5308333333333},{"period":"1996","value":13.0591666666667},{"period":"1997","value":7.16916666666667},{"period":"1998","value":10.1083333333333},{"period":"1999","value":12.8108333333333},{"period":"2000","value":11.6908333333333},{"period":"2001","value":15.2558333333333},{"period":"2002","value":16.67},{"period":"2003","value":14.2175},{"period":"2004","value":13.6983396127821},{"period":"2005","value":10.5325},{"period":"2006","value":9.75166666666667},{"period":"2007","value":10.2883333333333},{"period":"2008","value":11.8675},{"period":"2009","value":12.9583333333333},{"period":"2010","value":6.52083333333333},{"period":"2011","value":5.6925},{"period":"2012","value":8.405},{"period":"2013","value":7.945},{"period":"2014","value":9.3375},{"period":"2015","value":9.14833333333333},{"period":"2016","value":7.49520093404461},{"period":"2017","value":9.55448610385377},{"period":"2018","value":9.70071208222939},{"period":"2019","value":8.90051680291667},{"period":"2020","value":4.64662748565005},{"period":"2021","value":4.20684802645598},{"period":"2022","value":5.96335748938321},{"period":"2023","value":7.83855968526663}],"table":{"columns":[{"key":"year","label":"Year"},{"key":"value","label":"% per annum"},{"key":"yoyChange","label":"YoY Change"}],"rows":[{"year":"2023","value":"7.8","yoyChange":"+1.8pp"},{"year":"2022","value":"6.0","yoyChange":"+1.8pp"},{"year":"2021","value":"4.2","yoyChange":"-0.4pp"},{"year":"2020","value":"4.6","yoyChange":"-4.3pp"},{"year":"2019","value":"8.9","yoyChange":"-0.8pp"},{"year":"2018","value":"9.7","yoyChange":"+0.1pp"},{"year":"2017","value":"9.6","yoyChange":"+2.1pp"},{"year":"2016","value":"7.5","yoyChange":"-1.6pp"},{"year":"2015","value":"9.1","yoyChange":"-0.2pp"},{"year":"2014","value":"9.3","yoyChange":"+1.4pp"},{"year":"2013","value":"7.9","yoyChange":"-0.5pp"},{"year":"2012","value":"8.4","yoyChange":"+2.7pp"},{"year":"2011","value":"5.7","yoyChange":"-0.8pp"},{"year":"2010","value":"6.5","yoyChange":"-6.5pp"},{"year":"2009","value":"13.0","yoyChange":"+1.1pp"},{"year":"2008","value":"11.9","yoyChange":"+1.6pp"},{"year":"2007","value":"10.3","yoyChange":"+0.5pp"},{"year":"2006","value":"9.8","yoyChange":"-0.7pp"},{"year":"2005","value":"10.5","yoyChange":"-3.2pp"},{"year":"2004","value":"13.7","yoyChange":"-0.5pp"}]},"qa":[{"question":"What does this indicator measure?","answer":"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."},{"question":"How current is this data?","answer":"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)."},{"question":"What is the long-term trend?","answer":"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."}]}