The Central Bank of Nigeria left its benchmark interest rate steady at 13.5% on May 21st 2019, as widely expected, following a surprise 0.5 percentage point cut at the previous meeting. The decision came as headline inflation edged up to 11.37% in April from 11.25% in the prior month, moving further above the bank's target range of 6%-9%. Policymakers also mentioned that growth remains fragile as economy expanded only 2.01% in Q1 2019 compared to 2.38% in the prior quarter, amid a slump in the country's oil sector. Interest Rate in Nigeria averaged 11.02 percent from 2007 until 2019, reaching an all time high of 14 percent in July of 2016 and a record low of 6 percent in July of 2009.

Interest Rate in Nigeria is expected to be 13.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Nigeria to stand at 13.00 in 12 months time. In the long-term, the Nigeria Interest Rate is projected to trend around 14.00 percent in 2020, according to our econometric models.

Nigeria Interest Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-11-22 01:30 PM Interest Rate Decision 14% 14% 14% 14%
2019-01-22 01:30 PM Interest Rate Decision 14% 14% 14% 14%
2019-03-26 01:30 PM Interest Rate Decision 13.5% 14% 14% 14%
2019-05-21 01:30 PM Interest Rate Decision 13.5% 13.5% 13.5% 13.5%
2019-07-23 01:30 PM Interest Rate Decision 13.5% 13%
2019-09-24 01:30 PM Interest Rate Decision 13%
2019-11-26 01:30 PM Interest Rate Decision 13%


Nigeria Money Last Previous Highest Lowest Unit
Interest Rate 13.50 13.50 14.00 6.00 percent [+]
Cash Reserve Ratio 22.50 22.50 31.00 1.00 percent [+]
Money Supply M0 2158698.81 2153220.11 2329706.58 193939.30 NGN Million [+]
Money Supply M1 11252429.94 10945250.06 11751139.21 396991.90 NGN Million [+]
Money Supply M2 35167529.95 33809565.11 35167529.95 648506.60 NGN Million [+]
Foreign Exchange Reserves 44790.00 44140.00 62081.86 63.22 USD Million [+]
Deposit Interest Rate 9.69 9.50 27.00 2.00 percent [+]
Lending Rate 18.23 14.92 37.80 6.00 percent [+]
Money Supply M3 35116968.08 34255438.69 35116968.08 10478417.29 NGN Million [+]


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). This page provides - Nigeria Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Nigeria Interest Rate - actual data, historical chart and calendar of releases - was last updated on May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
13.50 13.50 14.00 6.00 2007 - 2019 percent Daily




Country Last Previous
Argentina 70.90 May/19
Turkey 24.00 Apr/19
Mexico 8.25 May/19
Russia 7.75 Apr/19
South Africa 6.75 May/19
Brazil 6.50 May/19
India 6.00 Apr/19
Indonesia 6.00 May/19
China 4.35 Apr/19
Saudi Arabia 3.00 Apr/19
United States 2.50 May/19
Singapore 2.24 Mar/19
Canada 1.75 Apr/19
South Korea 1.75 Apr/19
Australia 1.50 May/19
United Kingdom 0.75 May/19
Euro Area 0.00 Apr/19
France 0.00 Apr/19
Germany 0.00 Apr/19
Italy 0.00 Apr/19
Netherlands 0.00 Apr/19
Spain 0.00 Apr/19
Japan -0.10 Apr/19
Switzerland -0.75 Apr/19


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