The Central Bank of Nigeria maintained its benchmark rate at 27% on November 25, 2025, following a 50 bps cut in September, saying the pause was necessary to maintain the progress achieved in ensuring low and stable inflation. Governor Cardoso said the Committee decided by a majority vote to maintain the current policy stance, suggesting that members were not yet convinced economic conditions justified another cut. Policymakers welcomed the continued slowdown in headline inflation, supported by sustained monetary tightening and a more stable exchange rate, but noted it remains high, requiring further policy efforts. Nigeria’s annual inflation rate fell for the seventh straight month to 16.05% in October 2025, the softest since March 2022, from 18.02% in the prior month. The central bank also kept all other rates unchanged but adjusted the corridor around the MPR at +50-450% from +250-250% in September 2025. source: Central Bank of Nigeria

The benchmark interest rate in Nigeria was last recorded at 27 percent. Interest Rate in Nigeria averaged 13.35 percent from 2007 until 2025, reaching an all time high of 27.50 percent in November of 2024 and a record low of 6.00 percent in July of 2009. This page provides - Nigeria Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2026.

The benchmark interest rate in Nigeria was last recorded at 27 percent. Interest Rate in Nigeria is expected to be 25.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Nigeria Interest Rate is projected to trend around 17.00 percent in 2027 and 15.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-07-22 01:00 PM Interest Rate Decision 27.5% 27.5% 27.5%
2025-09-23 01:00 PM Interest Rate Decision 27% 27.5% 27% 26.5%
2025-11-25 01:00 PM Interest Rate Decision 27% 27% 26%
2026-02-24 01:00 PM Interest Rate Decision 27% 25%
2026-05-20 01:00 PM Interest Rate Decision
2026-07-21 01:00 PM Interest Rate Decision


Related Last Previous Unit Reference
Cash Reserve Ratio 45.00 45.00 percent Jan 2026
Deposit Interest Rate 11.82 10.82 percent Dec 2025
Foreign Exchange Reserves 46110.00 45450.00 USD Million Jan 2026
Interbank Rate 24.63 24.53 percent Nov 2025
Interest Rate 27.00 27.00 percent Dec 2025
Lending Rate 18.02 18.89 percent Dec 2025
Money Supply M0 5732860.29 5261793.44 NGN Million Dec 2025
Money Supply M1 42142000.42 40527791.37 NGN Million Dec 2025
Money Supply M2 124400185.00 122940404.13 NGN Million Dec 2025
Money Supply M3 124409844.52 122950064.18 NGN Million Dec 2025


Nigeria Interest Rate
In Nigeria, interest rate decisions are taken by The Central Bank of Nigeria. The official interest rate is the Monetary Policy Rate (MPR).
Actual Previous Highest Lowest Dates Unit Frequency
27.00 27.00 27.50 6.00 2007 - 2025 percent Daily

News Stream
Nigeria Retains Key Policy Rate at 27%
The Central Bank of Nigeria maintained its benchmark rate at 27% on November 25, 2025, following a 50 bps cut in September, saying the pause was necessary to maintain the progress achieved in ensuring low and stable inflation. Governor Cardoso said the Committee decided by a majority vote to maintain the current policy stance, suggesting that members were not yet convinced economic conditions justified another cut. Policymakers welcomed the continued slowdown in headline inflation, supported by sustained monetary tightening and a more stable exchange rate, but noted it remains high, requiring further policy efforts. Nigeria’s annual inflation rate fell for the seventh straight month to 16.05% in October 2025, the softest since March 2022, from 18.02% in the prior month. The central bank also kept all other rates unchanged but adjusted the corridor around the MPR at +50-450% from +250-250% in September 2025.
2025-11-25
Nigeria Cuts Key Policy Rate for 1st Time since 2020
The Central Bank of Nigeria lowered its benchmark rate by 50 bps to 27% on September 23, 2025, the first cut since September 2020, following three meetings of no change. Slowing inflation and naira's recent strength prompted the decision, with the goal of supporting economic growth. Nigeria’s annual inflation rate eased for the fifth month to 20.12% in August 2025, marking the softest reading since July 2022. Meanwhile, the economy expanded by 4.23% year-on-year in Q2 2025, the strongest pace of growth since Q2 2021, from 3.13% in the previous period.
2025-09-23
Nigeria Holds Key Policy Rate at 27.5%
Nigeria's central bank kept its key interest rate unchanged at 27.5% on July 22, 2025, holding steady for a third consecutive meeting. Nigeria’s annual inflation rate eased to 22.22% in June — the lowest reading since April 2023 and the third consecutive monthly decline. However, core inflation inched higher to 22.76% in June from 22.28% in May, while month-on-month inflation rose slightly to 1.68%. The central bank also highlighted risks stemming from global trade tensions and geopolitical volatility, notably the potential price impacts from US tariffs, which could fuel imported inflationary pressures. Against this backdrop, the MPC underscored the importance of maintaining a steady monetary policy stance to ensure the full unwinding of inflationary shocks.
2025-07-22