Nigeria Interest Rate 2007-2015 | Data | Chart | Calendar | Forecast

The benchmark interest rate in Nigeria was last recorded at 13 percent. Interest Rate in Nigeria averaged 9.70 percent from 2007 until 2014, reaching an all time high of 13 percent in November of 2014 and a record low of 6 percent in July of 2009. Interest Rate in Nigeria is reported by the Central Bank of Nigeria.

      Forecast    
Nigeria Interest Rate


Actual Previous Highest Lowest Dates Unit Frequency
13.00 13.00 13.00 6.00 2007 - 2015 percent Daily
In Nigeria, interest rate decisions are taken by The Central Bank of Nigeria. The official interest rate is the Monetary Policy Rate (MPR). This page provides - Nigeria Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Nigeria Interest Rate - was last refreshed on Monday, March 30, 2015.


Nigeria Leaves Monetary Policy Unchanged


Nigeria’s central bank left the monetary policy rate unchanged at 13 percent at its March 24th meeting, as the current policy stance should be enough to anchor inflation expectations.

The naira lost more than 17 percent to the USD from November to March as declining oil prices and political tensions hurt investor’s confidence. In February of 2015, Nigerian inflation rate rose to 8.2 percent, the highest figure in 6 months, as a falling naira keep pushing imported food prices up. 

Africa's biggest economy and oil producer goes to the polls to elect a new president on March 28th, the fifth election since 1999 when the military handed over power to elected civilian.  Elections have been postponed (was originally scheduled for February 14) due to the inability of the military to keep the polls safe from the Boko Haram attacks.

Carolina Cunha | carolina.cunha@tradingeconomics.com
3/24/2015 3:25:03 PM


Recent Releases

Nigeria Keeps Interest Rate on Hold at 13%
Nigeria’s central bank left the monetary policy rate unchanged at 13 percent at its January 20th meeting, and remained defiant against the pressure to devalue the currency. Published on 2015-01-20

Nigeria Interest Rate at Record High
Nigeria’s central bank devalued the naira and raised the monetary policy rate by 100 bps to 13 percent as it tries to defend the currency hit by lower oil prices. Published on 2014-11-25


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-11-25 01:50 PM
Interest Rate Decision 
13% 12% 12% 12%
2015-01-20 01:40 PM
Interest Rate Decision 
13% 13% 13% 13%
2015-03-24 01:30 PM
Interest Rate Decision 
13% 13% 13% 13%
2015-05-20 02:20 PM
Interest Rate Decision 
13% 13.25%
2015-07-22 02:30 PM
Interest Rate Decision 
13.5%
2015-09-18 02:40 PM
Interest Rate Decision 
13.5%


Nigeria Money Last Previous Highest Lowest Unit
Interest Rate 13.00 13.00 13.00 6.00 percent [+]
Money Supply M0 1622701.06 1661692.84 1797978.87 193939.30 Nigerian Naira Million [+]
Money Supply M1 6046785.57 6373271.94 7420946.18 396991.90 Nigerian Naira Million [+]
Money Supply M2 16546294.46 16811145.31 16833244.57 648506.60 Nigerian Naira Million [+]
Foreign Exchange Reserves 4079037.06 35313392.00 37349450.00 88635.00 NGN Million [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.25 Mar/15 2.25 17.50 2.25 percent [+]
Brazil 12.75 Mar/15 12.25 45.00 7.25 percent [+]
Canada 0.75 Mar/15 0.75 16.00 0.25 percent [+]
China 5.35 Mar/15 5.60 10.98 5.31 percent [+]
Euro Area 0.05 Mar/15 0.05 4.75 0.05 percent [+]
France 0.05 Mar/15 0.05 4.75 0.05 percent [+]
Germany 0.05 Mar/15 0.05 4.75 0.05 percent [+]
India 7.50 Mar/15 7.75 14.50 4.25 percent [+]
Indonesia 7.50 Mar/15 7.50 12.75 5.75 percent [+]
Italy 0.05 Mar/15 0.05 4.75 0.05 percent [+]
Japan 0.00 Mar/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Mar/15 3.00 9.25 3.00 percent [+]
Netherlands 0.05 Mar/15 0.05 4.75 0.05 percent [+]
Russia 14.00 Mar/15 15.00 17.00 5.00 percent [+]
South Korea 1.75 Mar/15 2.00 5.25 1.75 percent [+]
Spain 0.05 Mar/15 0.05 4.75 0.05 percent [+]
Switzerland -0.75 Mar/15 -0.75 3.50 -0.75 percent [+]
Turkey 7.50 Mar/15 7.50 500.00 4.50 percent [+]
United Kingdom 0.50 Mar/15 0.50 17.00 0.50 percent [+]
United States 0.25 Mar/15 0.25 20.00 0.25 percent [+]