Nigeria - Lending interest rate
Lending interest rate (%)
The latest value for Lending interest rate (%) in Nigeria was 11.48 as of 2021. Over the past 51 years, the value for this indicator has fluctuated between 31.65 in 1993 and 6.00 in 1977.
Definition: 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.
Source: International Monetary Fund, International Financial Statistics and data files.
See also:
| Year | Value |
|---|---|
| 1970 | 7.00 |
| 1971 | 7.00 |
| 1972 | 7.00 |
| 1973 | 7.00 |
| 1974 | 7.00 |
| 1975 | 6.25 |
| 1976 | 6.50 |
| 1977 | 6.00 |
| 1978 | 6.75 |
| 1979 | 8.15 |
| 1980 | 8.43 |
| 1981 | 8.92 |
| 1982 | 9.54 |
| 1983 | 9.98 |
| 1984 | 10.24 |
| 1985 | 9.43 |
| 1986 | 9.96 |
| 1987 | 13.96 |
| 1988 | 16.62 |
| 1989 | 20.44 |
| 1990 | 25.30 |
| 1991 | 20.04 |
| 1992 | 24.76 |
| 1993 | 31.65 |
| 1994 | 20.48 |
| 1995 | 20.23 |
| 1996 | 19.84 |
| 1997 | 17.80 |
| 1998 | 18.18 |
| 1999 | 20.29 |
| 2000 | 21.27 |
| 2001 | 23.44 |
| 2002 | 24.77 |
| 2003 | 20.71 |
| 2004 | 19.18 |
| 2005 | 17.95 |
| 2006 | 16.89 |
| 2007 | 16.94 |
| 2008 | 15.14 |
| 2009 | 18.99 |
| 2010 | 17.59 |
| 2011 | 16.02 |
| 2012 | 16.79 |
| 2013 | 16.72 |
| 2014 | 16.55 |
| 2015 | 16.85 |
| 2016 | 16.87 |
| 2017 | 17.55 |
| 2018 | 16.90 |
| 2019 | 15.38 |
| 2020 | 13.64 |
| 2021 | 11.48 |
Classification
Topic: Financial Sector Indicators
Sub-Topic: Interest rates
