Latest bank decision: At its meeting on 6 August, the Central Bank decided to hold the target for the overnight...
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 7 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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Mexico: Central Bank holds rates in August -
India: RBI holds again in August RBI stands pat for fourth successive meeting: On 3–5 August, the monetary policy committee of the Reserve Bank of India... -
United Kingdom: Central Bank holds rates in July Latest decision: On 30 July, the Central Bank voted to keep the bank rate at 3.75%, following cuts of 150... -
Colombia: Central Bank unexpectedly holds rates Bank stands pat: At its meeting on 31 July, the Central Bank (Banrep) held the policy interest rate at 12.00%... -
Dominican Republic: Central Bank leaves rates unchanged in July Bank extends its pause again: At its meeting on 31 July, the Central Bank of the Dominican Republic (BCRD) decided... -
Japan: Bank of Japan holds rates in July Latest decision: At its meeting in late July, the Bank of Japan (BOJ) decided by an eight-to-one vote to hold... -
United States: Central Bank keeps rates steady in July Decision was not unanimous: At its late July meeting, the Central Bank kept the target range for the federal funds...