🇳🇬 Nigeria Lending interest rate

Nigeria Lending interest rate was 14.01 in 2023, up 13.6% from 2022, according to World Bank data. The 10-year average is 15.16. Historical data available from 1970 to 2023 (54 data points). The all-time high was 31.65 in 1993.

Source: World Bank World Development Indicators • 1970–2023 • 54 data points • Financial Sector

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Latest Value

14.01

2023

Year-on-Year

+13.6%

vs 2022

10-Year Average

15.16

2014–2023

Range

High: 31.65 (1993)

Low: 6.00 (1977)

Nigeria Lending interest rate (%) — 1970 to 2023

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About this Indicator

Lending rate is the bank rate that usually meets the short- and medium-term financing needs of the private sector. This rate is normally differentiated according to creditworthiness of borrowers and objectives of financing. The terms and conditions attached to these rates differ by country, however, limiting their comparability. This indicator is expressed as a percentage (a÷b)*100.

Historical Data Table

Year	Value	Change
2023	14.01	+13.6%
2022	12.33	+7.4%
2021	11.48	-15.8%
2020	13.64	-11.3%
2019	15.38	-9.0%
2018	16.90	-3.7%
2017	17.55	+4.1%
2016	16.87	+0.1%
2015	16.85	+1.8%
2014	16.55	-1.0%

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