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), 1970–2023.
Nigeria (2023)
14
% per annum
+1.7pp YoY
YoY Change
+1.7pp
percentage points
Trend
up
Series length
54
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 1970–2023 the series ranges from 6 % per annum in 1977 to 31.7 % per annum in 1993.
This page tracks the prime or benchmark bank lending rate in Nigeria. 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. 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 1970–2023 (54 observations).
The series peaked at 31.7 % per annum in 1993 and reached its lowest recorded value of 6 % per annum in 1977. The latest reading is 14 % per annum in 2023. The latest change was +1.7pp.