Deposit interest rate (%) in Nigeria
Nigeria: Deposit interest rate (%) was 11.3% in 2025. ▲ Rising
Deposit interest rate in Nigeria, 1970–2025
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in %.
Analysis
In 2025, deposit interest rate in Nigeria stood at 11.3%.
That represents a change of down 3.0% on the previous year and up 23.2% over ten years.
Over the whole period, deposit interest rate in Nigeria peaked at 23.2% in 1993 and was at its lowest, 2.7%, in 1976.
Nigeria ranks 13th of 153 countries on this measure, in the top 10%.
The long-run direction has been consistently rising across the 56 years of available data.
Deposit interest rate (%) in Nigeria, year by year
| Year | % | Change |
|---|---|---|
| 1970 | 3.0% | — |
| 1971 | 3.0% | +0.0% |
| 1972 | 3.0% | +1.4% |
| 1973 | 3.0% | -1.4% |
| 1974 | 3.0% | +0.0% |
| 1975 | 3.0% | +0.0% |
| 1976 | 2.7% | -11.1% |
| 1977 | 2.8% | +6.2% |
| 1978 | 4.1% | +46.3% |
| 1979 | 4.5% | +7.6% |
| 1980 | 5.3% | +18.1% |
| 1981 | 5.7% | +8.5% |
| 1982 | 7.6% | +33.0% |
| 1983 | 7.4% | -2.5% |
| 1984 | 8.3% | +11.4% |
| 1985 | 9.1% | +10.4% |
| 1986 | 9.2% | +1.3% |
| 1987 | 13.1% | +41.7% |
| 1988 | 12.9% | -1.1% |
| 1989 | 14.7% | +13.3% |
| 1990 | 19.8% | +34.8% |
| 1991 | 14.9% | -24.6% |
| 1992 | 18.0% | +20.9% |
| 1993 | 23.2% | +28.8% |
| 1994 | 13.1% | -43.7% |
| 1995 | 13.5% | +3.4% |
| 1996 | 13.1% | -3.5% |
| 1997 | 7.2% | -45.1% |
| 1998 | 10.1% | +41.0% |
| 1999 | 12.8% | +26.7% |
| 2000 | 11.7% | -8.7% |
| 2001 | 15.3% | +30.5% |
| 2002 | 16.7% | +9.3% |
| 2003 | 14.2% | -14.7% |
| 2004 | 13.7% | -3.7% |
| 2005 | 10.5% | -23.1% |
| 2006 | 9.8% | -7.4% |
| 2007 | 10.3% | +5.5% |
| 2008 | 11.9% | +15.3% |
| 2009 | 13.0% | +9.2% |
| 2010 | 6.5% | -49.7% |
| 2011 | 5.7% | -12.7% |
| 2012 | 8.4% | +47.7% |
| 2013 | 7.9% | -5.5% |
| 2014 | 9.3% | +17.5% |
| 2015 | 9.1% | -2.0% |
| 2016 | 7.5% | -18.1% |
| 2017 | 9.6% | +27.5% |
| 2018 | 9.7% | +1.5% |
| 2019 | 8.9% | -8.2% |
| 2020 | 4.6% | -47.8% |
| 2021 | 4.2% | -9.5% |
| 2022 | 6.0% | +41.8% |
| 2023 | 7.8% | +31.4% |
| 2024 | 11.6% | +48.3% |
| 2025 | 11.3% | -3.0% |
Nigeria compared with similar countries
- Nigeria's 11.3% is above the median for lower middle income countries, which is 5.2%, 2.2× the median. (42 countries reporting)
- Nigeria's 11.3% is above the median for Sub-Saharan Africa, which is 5.7%, 2.0× the median. (44 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 3.2% | 2.7% | 4.5% | 10 |
| 1980s | 9.3% | 5.3% | 14.7% | 10 |
| 1990s | 14.6% | 7.2% | 23.2% | 10 |
| 2000s | 12.7% | 9.8% | 16.7% | 10 |
| 2010s | 8.3% | 5.7% | 9.7% | 10 |
| 2020s | 7.6% | 4.2% | 11.6% | 6 |
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 deposit interest rate in Nigeria?
- Deposit interest rate in Nigeria was 11.3% in 2025, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest deposit interest rate recorded in Nigeria?
- The highest recorded value was 23.2% in 1993.
- What is the lowest deposit interest rate recorded in Nigeria?
- The lowest recorded value was 2.7% in 1976.
- How does Nigeria rank for deposit interest rate?
- Nigeria ranks 13th out of 153 countries with data for 2025.
- Is deposit interest rate rising or falling in Nigeria?
- Over the last ten years it is up 23.2%. The long-run trend across the full record is rising.
- Where does this Nigeria data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Deposit interest rate (%). Statizoid updates them automatically from the source API.
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About this data
Deposit interest rate is the rate paid by commercial or similar banks for demand, time, or savings deposits. 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.