Real interest rate in Nigeria
Nigeria: Real interest rate was 2.9% in 2023. ◆ Volatile
Real interest rate in Nigeria, 1970–2023
Source: International Financial Statistics database, International Monetary Fund (IMF). Measured in %.
Analysis
The most recent figure for real interest rate in Nigeria is 2.9%, measured in 2023.
Compared with earlier readings it is down 27.8% on the previous year and down 74.4% over ten years.
Over the whole period, real interest rate in Nigeria peaked at 18.2% in 2009 and was at its lowest, -65.9%, in 1981.
That places Nigeria 96th out of 148 countries with data for 2023, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | -7.8% | -29.3% | 5.6% | 10 |
| 1980s | -8.5% | -65.9% | 4.3% | 10 |
| 1990s | -2.7% | -31.5% | 17.5% | 10 |
| 2000s | 4.8% | -5.6% | 18.2% | 10 |
| 2010s | 4.2% | -25.8% | 13.6% | 10 |
| 2020s | 2.0% | -1.0% | 4.0% | 4 |
Countries ranked near Nigeria
More financial sector data for Nigeria
- Domestic credit to private sector by banks 13.1% (2023)
- Total reserves in months of imports 7.12 (2025)
- Net domestic credit 66.12 trillion current LCU (2022)
- Net foreign assets 3.79 trillion current LCU (2022)
- Monetary Sector credit to private sector 9.6% (2022)
- Broad money 25.1% (2023)
- Claims on central government, etc. 8.6% (2022)
- Domestic credit to private sector 9.6% (2022)
- Official exchange rate 1,518 LCU per US$, period average (2025)
- Net migration -15,258 (2025)
Frequently asked questions
- What is real interest rate in Nigeria?
- Real interest rate in Nigeria was 2.9% in 2023, according to International Financial Statistics database, International Monetary Fund (IMF).
- What is the highest real interest rate recorded in Nigeria?
- The highest recorded value was 18.2% in 2009.
- What is the lowest real interest rate recorded in Nigeria?
- The lowest recorded value was -65.9% in 1981.
- How does Nigeria rank for real interest rate?
- Nigeria ranks 96th out of 148 countries with data for 2023.
- Is real interest rate rising or falling in Nigeria?
- Over the last ten years it is down 74.4%. The long-run trend across the full record is volatile.
- Where does this Nigeria data come from?
- The figures come from International Financial Statistics database, International Monetary Fund (IMF), published as part of Real interest rate (%). Statizoid updates them automatically from the source API.
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About this data
An interest rate is the amount charged, expressed as a percentage of the principal over a period of time, by the owners of certain kinds of financial assets for putting the financial assets at the disposal of another institutional unit. The real interest rate is the lending interest rate adjusted for inflation as measured by the GDP deflator. The terms and conditions attached to lending rates differ by country, however, limiting their comparability. This indicator is expressed as a percentage (a÷b)*100.