Bank net interest margin (%) in Nigeria
Nigeria: Bank net interest margin (%) was 3.6% in 2021. ▼ Falling
Bank net interest margin in Nigeria, 2000–2021
Source: Bankscope, Bureau van Dijk (BvD). Measured in %.
Analysis
In 2021, bank net interest margin in Nigeria stood at 3.6%.
Compared with earlier readings it is down 23.7% on the previous year and down 69.7% over ten years.
Over the whole period, bank net interest margin in Nigeria peaked at 12.1% in 2002 and was at its lowest, 2.2%, in 2010.
That places Nigeria 66th out of 166 countries with data for 2021, putting it in the middle of the range.
The long-run direction has been consistently falling across the 22 years of available data.
Bank net interest margin (%) in Nigeria, year by year
| Year | % | Change |
|---|---|---|
| 2000 | 10.6% | — |
| 2001 | 10.3% | -2.4% |
| 2002 | 12.1% | +17.2% |
| 2003 | 10.9% | -9.9% |
| 2004 | 7.5% | -31.0% |
| 2005 | 7.3% | -3.1% |
| 2006 | 6.8% | -6.4% |
| 2007 | 6.6% | -2.9% |
| 2008 | 6.6% | +0.0% |
| 2009 | 2.6% | -61.5% |
| 2010 | 2.2% | -12.2% |
| 2011 | 11.9% | +431.3% |
| 2012 | 9.4% | -21.4% |
| 2013 | 7.7% | -17.5% |
| 2014 | 7.1% | -7.8% |
| 2015 | 6.7% | -5.8% |
| 2016 | 5.7% | -15.7% |
| 2017 | 7.4% | +31.0% |
| 2018 | 6.2% | -16.6% |
| 2019 | 5.9% | -4.9% |
| 2020 | 4.7% | -19.5% |
| 2021 | 3.6% | -23.7% |
Nigeria compared with similar countries
- Nigeria's 3.6% is below the median for lower middle income countries, which is 3.8%, 94% of the median. (38 countries reporting)
- Nigeria's 3.6% is below the median for Sub-Saharan Africa, which is 4.4%, 82% of the median. (38 countries reporting)
Biggest year-on-year movements
Years where Bank net interest margin (%) in Nigeria changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2011 | +431.3% | 2.2% | 11.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 8.1% | 2.6% | 12.1% | 10 |
| 2010s | 7.0% | 2.2% | 11.9% | 10 |
| 2020s | 4.2% | 3.6% | 4.7% | 2 |
Countries ranked near Nigeria
More financial sector data for Nigeria
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0008 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 1.01 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0006 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 0.7387 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0008 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 1.01 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (2025)
Frequently asked questions
- What is bank net interest margin in Nigeria?
- Bank net interest margin in Nigeria was 3.6% in 2021, according to Bankscope, Bureau van Dijk (BvD).
- What is the highest bank net interest margin recorded in Nigeria?
- The highest recorded value was 12.1% in 2002.
- What is the lowest bank net interest margin recorded in Nigeria?
- The lowest recorded value was 2.2% in 2010.
- How does Nigeria rank for bank net interest margin?
- Nigeria ranks 66th out of 166 countries with data for 2021.
- Is bank net interest margin rising or falling in Nigeria?
- Over the last ten years it is down 69.7%. The long-run trend across the full record is falling.
- Where does this Nigeria data come from?
- The figures come from Bankscope, Bureau van Dijk (BvD), published as part of Bank net interest margin (%). Statizoid updates them automatically from the source API.
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About this data
Raw data are from Bankscope. Data2080[t] / ((data2010[t] + data2010[t-1])/2). Numerator and denominator are aggregated on the country level before division. Note that banks used in the calculation might differ between indicators. Calculated from underlying bank-by-bank unconsolidated data from Bankscope.