Latest bank decision: At its meeting on 10 June, the Bank of Canada held the target for the overnight rate...
Policy Interest Rate in Nigeria
The Policy Interest Rate (%, eop) ended 2024 at 27.50%, up from the 18.75% end-2024 value and up from the reading of 13.00% a decade earlier. For reference, the average interest rate in Sub-Saharan Africa was 14.31% at end-2024. For more information on interest rate, visit our dedicated page.
Nigeria Interest Rate Chart
Note: This chart displays Policy Interest Rate (%) for Nigeria from 2014 to 2025.
Source: Macrobond.
Nigeria Interest Rate Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Monetary Policy Rate (%, eop) | 11.50 | 16.50 | 18.75 | 27.50 | 27.00 |
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Nigerian interest rate projections for the next ten years from a panel of 8 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable interest rate forecast available for Nigerian interest rate.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Nigerian interest rate projections.
Want to get access to the full dataset of Nigerian interest rate forecasts? Send an email to info@focus-economics.com.
Latest Global Monetary Policy News
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Canada: Bank of Canada holds rates in June -
Kenya: Central Bank leaves rates unchanged in June Bank extends hold: At its meeting on 9 June, the Central Bank of Kenya (CBK) decided to maintain its policy... -
Indonesia: Bank Indonesia delivers an off-cycle hike in June BI-Rate up to an over one-year high: At an unscheduled meeting on 9 June, Bank Indonesia (BI) unexpectedly increased the... -
India: RBI holds again in June but highlights El Niño and Iran war risks RBI stands pat for third successive meeting: On 3–5 June, the monetary policy committee of the Reserve Bank of India... -
Dominican Republic: Central Bank leaves rates unchanged in May The BCRD holds for seventh consecutive meeting: At its meeting on 29 May, the Central Bank of the Dominican Republic... -
South Africa: May sees SARB hike rates for first time in three years South African Reserve Bank raises rates in split decision: On 28 May, the monetary policy committee of the South African... -
Korea: Bank of Korea stands pat in May, as expected Central Bank leaves rates unchanged for a year: At its meeting on 28 May, the Bank of Korea (BOK) decided...