Nigeria Lending Rate
Lending interest rate FR.INR.LEND
Nigeria's lending rate was 11.75% in 2025, ranked 35th globally. This represents a 16.1% decrease from 2024. Data from World Bank, covering 1970–2025.
Overview
Nigeria's lending rate stood at 11.75% in 2025, a decline of +2.26pp from 2023. Based on recent trends, this figure is projected to reach 11.75% by 2025. Nigeria ranked 35th globally.
Nigeria’s lending rate has risen sharply from a 1970 level of 7.00 % to 11.75 % in 2025, placing the country 35th globally. The rate’s trajectory is marked by an all‑time peak of 31.65 % in 1993, a reflection of the severe macro‑economic instability and fiscal deficits of the early 1990s, and an all‑time trough of 6.00 % in 1977, when monetary policy was relatively accommodative. Over the 55‑year coverage period, the rate has more than doubled, indicating persistent credit cost pressures despite periodic easing. Compared with peer economies of similar ranking, Nigeria’s current rate is marginally lower than Lesotho’s 11.89 % and slightly above Jamaica’s 11.73 %, suggesting a competitive but still elevated borrowing environment in the region. Continued moderation of inflation and deeper financial‑sector reforms could curb the upward pressure on lending costs, potentially stabilising the rate around the mid‑single digits in the medium term.
Data & projection
| Year | Lending Rate | YoY change | Rank |
|---|---|---|---|
| 2026* trend | 11.35% | - | - |
| 2025* trend | 11.75% | - | - |
| 2025 | 11.75% | −2.26pp | #35 |
| 2023 | 14.01% | +1.68pp | #69 |
| 2022 | 12.33% | +0.85pp | #72 |
| 2021 | 11.48% | −2.16pp | #78 |
| 2020 | 13.64% | −1.73pp | #86 |
| 2019 | 15.38% | −1.53pp | #93 |
| 2018 | 16.90% | −0.65pp | #100 |
| 2017 | 17.55% | +0.69pp | #117 |
| 2016 | 16.87% | +0.02pp | #115 |
| 2015 | 16.85% | +0.30pp | #113 |
| 2014 | 16.55% | −0.17pp | #117 |
| 2013 | 16.72% | −0.07pp | #119 |
| 2012 | 16.79% | +0.77pp | #113 |
| 2011 | 16.02% | −1.57pp | #108 |
| 2010 | 17.59% | −1.41pp | #113 |
Detected Pattern
Analysis
Nigeria matched the Export Boom Cycle pattern in 2024. Historically, 71% of countries showing this pattern (546 out of 768) saw lending rate improve within 24 months. View full analysis →
Frequently Asked Questions
Nigeria's lending rate was 11.75% in 2025. Ranked 35th globally. This represents a 16.1% decrease from the previous year.
Nigeria's lending rate peaked at 31.65% in 1993.
The lowest lending rate in Nigeria was 6.00% in 1977.
Nigeria ranks 35th globally in lending rate as of 2025.
The World Bank indicator code is FR.INR.LEND. Data sourced from World Bank.
Nigeria's lending rate is projected to reach 11.75% by 2025 based on trend extrapolation.
The lending rate of Nigeria in 2025 was 11.75%. This ranks 35th in the world.
Cite this page
@misc{historysaid_nigeria_lending-rate,
title = {Nigeria Lending Rate},
url = {https://historysaid.com/nigeria/lending-rate/},
publisher = {HistorySaid},
year = {2026}
}