Nigeria Bank Lending Interest Rate (2023)
Nigeria's Bank Lending Interest Rate: 14 % per annum in 2023, +1.7pp YoY. World Bank (FR.INR.LEND), 1974–2023.
Nigeria (2023)
14
% per annum
+1.7pp YoY
YoY Change
+1.7pp
percentage points
Trend
up
Series length
50
years of data
Data
| Year | % per annum | YoY Change |
|---|---|---|
| 2023 | 14 | +1.7pp |
| 2022 | 12.3 | +0.8pp |
| 2021 | 11.5 | -2.1pp |
| 2020 | 13.6 | -1.8pp |
| 2019 | 15.4 | -1.5pp |
| 2018 | 16.9 | -0.7pp |
| 2017 | 17.6 | +0.7pp |
| 2016 | 16.9 | +0.1pp |
| 2015 | 16.8 | +0.3pp |
| 2014 | 16.5 | -0.2pp |
| 2013 | 16.7 | -0.1pp |
| 2012 | 16.8 | +0.8pp |
| 2011 | 16 | -1.6pp |
| 2010 | 17.6 | -1.4pp |
| 2009 | 19 | +3.9pp |
| 2008 | 15.1 | -1.8pp |
| 2007 | 16.9 | unchanged |
| 2006 | 16.9 | -1pp |
| 2005 | 17.9 | -1.3pp |
| 2004 | 19.2 | -1.5pp |
About this Dataset
Nigeria recorded 14 % per annum in 2023. The latest change was +1.7pp. Across 1974–2023 the series ranges from 6 in 1977 to 31.7 in 1993.
This page tracks the prime or benchmark bank lending rate in Nigeria from 1990 to present. Lending rates directly affect the cost of corporate borrowing and investment activity.
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 prime or benchmark bank lending rate in Nigeria from 1990 to present. Lending rates directly affect the cost of corporate borrowing and investment activity. 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 31.7 % per annum in 1993 and reached its lowest recorded value of 6 in 1977. The latest reading of 14 in 2023 represents a change of +1.7pp.