Nigeria interest rate

Nigeria interest rate closed up 27.5 as of November 26, 2024 from 27.25 from the previous day, 24.75 last week and 17.5 last month.

Nigeria interest rate Analytics & Data

Nigeria interest rate Statistics

Nigeria interest rate Quantitative Analysis, Charts & Factors

Nigeria interest rate Historical Data

The MacroVar database offers free access to historical data for the Nigeria interest rate, dating back to 1950. This extensive dataset is readily available through MacroVar versatile platforms, including a user-friendly web interface, a robust Python API, and convenient Excel integration. By leveraging these tools, users can efficiently retrieve and analyze decades of Nigeria interest rate data, supporting a wide range of research, financial analysis, and decision-making processes.

What is the Nigeria interest rate

The interest rate in Nigeria refers to the percentage charged by financial institutions for borrowing money or the return earned on investments. In Nigeria, the interest rate is set by the Central Bank of Nigeria (CBN) and plays a crucial role in the country's economy. A high interest rate can discourage borrowing and investment, leading to slower economic growth, while a low interest rate can stimulate economic activity by making borrowing more affordable. The CBN adjusts the interest rate in response to economic conditions to help control inflation, promote economic stability, and encourage investment and growth in the country.