Deposit Rate, Percent per annum in Nigeria
Nigeria: Deposit Rate, Percent per annum was 11.27 in 2025. ▲ Rising
Deposit Rate, Percent per annum in Nigeria, 1970–2025
Source: International Monetary Fund.
Analysis
Nigeria recorded 11.27 for deposit rate, percent per annum in 2025.
That represents a change of down 3.0% on the previous year and up 23.2% over ten years.
Over the whole period, deposit rate, percent per annum in Nigeria peaked at 23.24 in 1993 and was at its lowest, 2.67, in 1976.
That places Nigeria 10th out of 143 countries with data for 2025, putting it in the top 10%.
The long-run direction has been consistently rising across the 56 years of available data.
Deposit Rate, Percent per annum in Nigeria, year by year
| Year | Value | Change |
|---|---|---|
| 1970 | 3 | — |
| 1971 | 3 | +0.0% |
| 1972 | 3.04 | +1.4% |
| 1973 | 3 | -1.4% |
| 1974 | 3 | +0.0% |
| 1975 | 3 | +0.0% |
| 1976 | 2.67 | -11.1% |
| 1977 | 2.83 | +6.2% |
| 1978 | 4.15 | +46.3% |
| 1979 | 4.46 | +7.6% |
| 1980 | 5.27 | +18.1% |
| 1981 | 5.72 | +8.5% |
| 1982 | 7.6 | +33.0% |
| 1983 | 7.41 | -2.5% |
| 1984 | 8.25 | +11.4% |
| 1985 | 9.12 | +10.4% |
| 1986 | 9.23 | +1.3% |
| 1987 | 13.09 | +41.7% |
| 1988 | 12.95 | -1.1% |
| 1989 | 14.68 | +13.3% |
| 1990 | 19.78 | +34.8% |
| 1991 | 14.92 | -24.6% |
| 1992 | 18.04 | +20.9% |
| 1993 | 23.24 | +28.8% |
| 1994 | 13.09 | -43.7% |
| 1995 | 13.53 | +3.4% |
| 1996 | 13.06 | -3.5% |
| 1997 | 7.17 | -45.1% |
| 1998 | 10.11 | +41.0% |
| 1999 | 12.81 | +26.7% |
| 2000 | 11.69 | -8.7% |
| 2001 | 15.26 | +30.5% |
| 2002 | 16.67 | +9.3% |
| 2003 | 14.22 | -14.7% |
| 2004 | 13.7 | -3.7% |
| 2005 | 10.53 | -23.1% |
| 2006 | 9.75 | -7.4% |
| 2007 | 10.29 | +5.5% |
| 2008 | 11.87 | +15.3% |
| 2009 | 12.96 | +9.2% |
| 2010 | 6.52 | -49.7% |
| 2011 | 5.69 | -12.7% |
| 2012 | 8.4 | +47.7% |
| 2013 | 7.95 | -5.5% |
| 2014 | 9.34 | +17.5% |
| 2015 | 9.15 | -2.0% |
| 2016 | 7.5 | -18.1% |
| 2017 | 9.55 | +27.5% |
| 2018 | 9.7 | +1.5% |
| 2019 | 8.9 | -8.2% |
| 2020 | 4.65 | -47.8% |
| 2021 | 4.21 | -9.5% |
| 2022 | 5.96 | +41.8% |
| 2023 | 7.84 | +31.4% |
| 2024 | 11.62 | +48.3% |
| 2025 | 11.27 | -3.0% |
Nigeria compared with similar countries
- Nigeria's 11.27 is above the median for lower middle income countries, which is 5.24, 2.2× the median. (40 countries reporting)
- Nigeria's 11.27 is above the median for Sub-Saharan Africa, which is 5.67, 2.0× the median. (43 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 3.21 | 2.67 | 4.46 | 10 |
| 1980s | 9.33 | 5.27 | 14.68 | 10 |
| 1990s | 14.58 | 7.17 | 23.24 | 10 |
| 2000s | 12.69 | 9.75 | 16.67 | 10 |
| 2010s | 8.27 | 5.69 | 9.7 | 10 |
| 2020s | 7.59 | 4.21 | 11.62 | 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 rate, percent per annum in Nigeria?
- Deposit rate, percent per annum in Nigeria was 11.27 in 2025, according to International Monetary Fund.
- What is the highest deposit rate, percent per annum recorded in Nigeria?
- The highest recorded value was 23.24 in 1993.
- What is the lowest deposit rate, percent per annum recorded in Nigeria?
- The lowest recorded value was 2.67 in 1976.
- How does Nigeria rank for deposit rate, percent per annum?
- Nigeria ranks 10th out of 143 countries with data for 2025.
- Is deposit rate, percent per annum 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 Monetary Fund, published as part of Deposit Rate, Percent per annum. Statizoid updates them automatically from the source API.
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About this data
The Monetary and Financial Statistics (MFS), Interest Rates dataset presents country-specific interest rate data across sectors and instruments, based on nationally defined methodologies.