Nigeria Deposit Rate
Deposit interest rate FR.INR.DPST
Nigeria's deposit rate was 5.99% in 2025, ranked 35th globally. This represents a 23.6% decrease from 2024. Data from World Bank, covering 1970–2025.
Overview
Nigeria's deposit rate stood at 5.99% in 2025, a decline of +1.85pp from 2023. Based on recent trends, this figure is projected to reach 5.99% by 2025. Nigeria ranked 35th globally.
Nigeria’s deposit rate has risen steadily from the earliest recorded 3.00 % in 1970 to 5.99 % in 2025, placing the country 35th globally. The rate’s historical volatility is evident in the all‑time peak of 23.24 % reached in 1993, a period of high inflation and tight monetary policy, and the trough of 2.67 % in 1976, when liberalisation efforts lowered yields. Over the 55‑year coverage, the average has trended upward, narrowing the gap with peers such as Qatar (6.00 %) and Mexico (5.89 %). The recent increase reflects tighter monetary conditions and efforts to attract savings amid fiscal consolidation. If inflation pressures ease and the Central Bank maintains a stable policy stance, the deposit rate is likely to plateau near the current level, but a resurgence of external shocks or fiscal deficits could push rates higher again.
Data & projection
| Year | Deposit Rate | YoY change | Rank |
|---|---|---|---|
| 2026* trend | 5.91% | - | - |
| 2025* trend | 5.99% | - | - |
| 2025 | 5.99% | −1.85pp | #35 |
| 2023 | 7.84% | +1.88pp | #74 |
| 2022 | 5.96% | +1.76pp | #74 |
| 2021 | 4.21% | −0.44pp | #82 |
| 2020 | 4.65% | −4.25pp | #79 |
| 2019 | 8.90% | −0.80pp | #105 |
| 2018 | 9.70% | +0.15pp | #111 |
| 2017 | 9.55% | +2.06pp | #125 |
| 2016 | 7.50% | −1.65pp | #114 |
| 2015 | 9.15% | −0.19pp | #122 |
| 2014 | 9.34% | +1.39pp | #125 |
| 2013 | 7.95% | −0.46pp | #118 |
| 2012 | 8.41% | +2.71pp | #115 |
| 2011 | 5.69% | −0.83pp | #86 |
| 2010 | 6.52% | −6.44pp | #93 |
Detected Pattern
Analysis
Nigeria matched the Export Boom Cycle pattern in 2024. Historically, 71% of countries showing this pattern (546 out of 768) saw deposit rate improve within 24 months. View full analysis →
Frequently Asked Questions
Nigeria's deposit rate was 5.99% in 2025. Ranked 35th globally. This represents a 23.6% decrease from the previous year.
Nigeria's deposit rate peaked at 23.24% in 1993.
The lowest deposit rate in Nigeria was 2.67% in 1976.
Nigeria ranks 35th globally in deposit rate as of 2025.
The World Bank indicator code is FR.INR.DPST. Data sourced from World Bank.
Nigeria's deposit rate is projected to reach 5.99% by 2025 based on trend extrapolation.
The deposit rate of Nigeria in 2025 was 5.99%. This ranks 35th in the world.
Cite this page
@misc{historysaid_nigeria_deposit-rate,
title = {Nigeria Deposit Rate},
url = {https://historysaid.com/nigeria/deposit-rate/},
publisher = {HistorySaid},
year = {2026}
}