Nigeria Policy Rate

2006 - 2024 | Monthly | % pa | Central Bank of Nigeria

Key information about Nigeria Policy Rate

  • Nigeria cash rate (Policy Rate: Month End) was set at 24.75 % pa in Apr 2024, compared with 24.75 % pa in the previous Mar 2024.
  • Nigeria Policy Rate averaged 12.00 % pa and is updated monthly, available from Dec 2006 to Apr 2024.
  • The data reached an all-time high of 24.75 % pa in Apr 2024 and a record low of 6.00 % pa in Aug 2010.




Related information about Nigeria Policy Rate

  • In the latest reports, Nigeria Short Term Interest Rate: Month End: NIBOR: 3 Months was reported at 25.10 % pa in Mar 2024.
  • Nigeria Exchange Rate against USD averaged 607.75 (USD/NGN) in Jun 2023.
  • Its Real Effective Exchange Rate was 65.96 in Mar 2024.

View Nigeria's Policy Rate from Dec 2006 to Apr 2024 in the chart:

Nigeria Policy Rate

What was Nigeria's Policy Rate in Apr 2024?

Nigeria cash rate (Policy Rate: Month End) was set at 24.75 % pa in Apr 2024, compared with 24.75 % pa in the previous Mar 2024. See the table below for more data.

Last Previous Min Max Unit Frequency Range
24.75 Apr 2024 24.75 Mar 2024 6.00 Aug 2010 24.75 Apr 2024 % pa monthly Dec 2006 - Apr 2024

Policy Rate by Country Comparison

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Includes Policy Rate on 108 economies standardised by CEIC. Instant access to full history data in excel.
country/region Last Frequency Range
Albania (% pa) 3.25 Apr 2024 monthly Jan 2000 - Apr 2024
Algeria (% pa) 3.00 Sep 2023 monthly Jan 1963 - Sep 2023
Argentina (%) 51.02 Apr 2024 monthly Aug 1985 - Apr 2024
Armenia (% pa) 8.25 Apr 2024 monthly May 2001 - Apr 2024
Australia (% pa) 4.35 Apr 2024 monthly Aug 1990 - Apr 2024
Austria (% pa) 4.50 Apr 2024 monthly Jan 1999 - Apr 2024
Azerbaijan (% pa) 7.25 May 2024 monthly Jan 2005 - May 2024
Bahrain (% pa) 6.25 Apr 2024 monthly Jan 2007 - Apr 2024
Bangladesh (% pa) 8.00 Mar 2024 monthly Sep 2009 - Mar 2024
Belarus (% pa) 9.50 Apr 2024 monthly Jul 1991 - Apr 2024
Belgium (% pa) 4.50 Apr 2024 monthly Jan 1999 - Apr 2024
Bolivia (% pa) 3.01 Apr 2024 monthly Jan 2013 - Apr 2024
Botswana (% pa) 3.75 Apr 2022 monthly Aug 1976 - Apr 2022
Brazil (% pa) 10.75 Apr 2024 monthly Mar 1999 - Apr 2024
Bulgaria (% pa) 3.78 May 2024 monthly Feb 1991 - May 2024
Canada (% pa) 5.00 Apr 2024 monthly Dec 1992 - Apr 2024
Chile (% pa) 6.50 Apr 2024 monthly May 1995 - Apr 2024
China (% pa) 2.65 Jun 2023 monthly Jan 2016 - Jun 2023
Colombia (% pa) 12.25 Apr 2024 monthly Apr 1995 - Apr 2024
Croatia (% pa) 3.00 Dec 2022 monthly Dec 1992 - Dec 2022
Cyprus (% pa) 4.50 Apr 2024 monthly Jan 1999 - Apr 2024
Czech Republic (% pa) 4.75 Apr 2024 monthly Jan 1993 - Apr 2024
Denmark (% pa) 3.60 Apr 2024 monthly Aug 1914 - Apr 2024
Ecuador (% pa) 10.87 Apr 2024 monthly Jul 1995 - Apr 2024
Egypt (% pa) 27.75 Apr 2024 monthly Jan 1991 - Apr 2024
Estonia (% pa) 4.50 Apr 2024 monthly Jan 1999 - Apr 2024
European Union (% pa) 4.50 Apr 2024 monthly Jan 1999 - Apr 2024
Finland (% pa) 4.50 Apr 2024 monthly Jan 1999 - Apr 2024
France (% pa) 4.50 Apr 2024 monthly Jan 1999 - Apr 2024
Georgia (% pa) 8.25 Apr 2024 monthly Jan 2008 - Apr 2024
Germany (% pa) 4.50 Apr 2024 monthly Jan 1999 - Apr 2024
Ghana (% pa) 29.50 May 2023 monthly Nov 2002 - May 2023
Greece (% pa) 4.50 Apr 2024 monthly Jan 1999 - Apr 2024
Hong Kong SAR, China (% pa) 5.75 Apr 2024 monthly Jun 1992 - Apr 2024
Hungary (% pa) 7.75 Apr 2024 monthly Oct 1990 - Apr 2024
Iceland (% pa) 10.00 Apr 2024 monthly Jan 1994 - Apr 2024
India (% pa) 6.50 Apr 2024 monthly Apr 2001 - Apr 2024
Indonesia (% pa) 6.25 Apr 2024 monthly Jun 2015 - Apr 2024
Ireland (% pa) 4.50 Apr 2024 monthly Jan 1999 - Apr 2024
Israel (% pa) 4.50 Apr 2024 monthly Dec 1998 - Apr 2024
Italy (% pa) 4.50 Apr 2024 monthly Jan 1999 - Apr 2024
Ivory Coast (% pa) 2.50 Mar 2017 monthly Jan 1964 - Mar 2017
Japan (% pa) -0.10 Jun 2023 monthly Nov 2008 - Jun 2023
Jordan (% pa) 8.50 Apr 2024 monthly Dec 1965 - Apr 2024
Kazakhstan (% pa) 14.75 Apr 2024 monthly Feb 1992 - Apr 2024
Kenya (% pa) 13.00 Apr 2024 monthly Jul 2003 - Apr 2024
South Korea (% pa) 3.50 Apr 2024 monthly May 1999 - Apr 2024
Kosovo (% pa) 4.50 Apr 2024 monthly Jan 1999 - Apr 2024
Kuwait (% pa) 4.25 Apr 2024 monthly Jul 1999 - Apr 2024
Kyrgyzstan (% pa) 11.00 Apr 2024 monthly Jan 1999 - Apr 2024
Laos (% pa) 7.50 May 2023 monthly Dec 1992 - May 2023
Latvia (% pa) 4.50 Apr 2024 monthly Jan 1999 - Apr 2024
Lebanon (% pa) 10.00 Jan 2023 monthly Apr 1964 - Jan 2023
Lithuania (% pa) 4.50 Apr 2024 monthly Jan 1999 - Apr 2024
Luxembourg (% pa) 4.50 Apr 2024 monthly Jan 1999 - Apr 2024
Macau SAR, China (% pa) 5.75 Apr 2024 monthly Dec 1999 - Apr 2024
North Macedonia (% pa) 6.30 Apr 2024 monthly Jan 2002 - Apr 2024
Malawi (% pa) 26.00 Apr 2024 monthly Jan 1980 - Apr 2024
Malaysia (% pa) 3.00 Apr 2024 monthly Apr 2004 - Apr 2024
Malta (% pa) 4.50 Apr 2024 monthly Jan 1999 - Apr 2024
Mauritius (% pa) 4.50 Apr 2024 monthly Dec 1999 - Apr 2024
Mexico (% pa) 11.00 Apr 2024 monthly Jan 2008 - Apr 2024
Moldova (% pa) 3.75 Apr 2024 monthly Feb 2001 - Apr 2024
Mongolia (% pa) 12.00 Apr 2024 monthly Jul 2007 - Apr 2024
Montenegro (% pa) 4.50 Apr 2024 monthly Jan 1999 - Apr 2024
Morocco (% pa) 3.00 Apr 2024 monthly Jun 1995 - Apr 2024
Myanmar (% pa) 7.00 2024 yearly 1986 - 2024
Nepal (% pa) 7.00 Apr 2024 monthly Jul 2003 - Apr 2024
Netherlands (% pa) 4.50 Apr 2024 monthly Jan 1999 - Apr 2024
New Zealand (% pa) 5.50 May 2023 monthly Mar 1999 - May 2023
Nigeria (% pa) 24.75 Apr 2024 monthly Dec 2006 - Apr 2024
Norway (% pa) 4.50 Apr 2024 monthly Jan 1991 - Apr 2024
Oman (% pa) 6.00 Apr 2024 monthly May 2007 - Apr 2024
Pakistan (% pa) 23.00 Apr 2024 monthly Feb 1992 - Apr 2024
Paraguay (% pa) 6.00 Apr 2024 monthly Jul 2010 - Apr 2024
Peru (% pa) 6.00 Apr 2024 monthly Sep 2003 - Apr 2024
Philippines (% pa) 7.00 Apr 2024 monthly Jun 2016 - Apr 2024
Poland (% pa) 5.75 Apr 2024 monthly Jan 2005 - Apr 2024
Portugal (% pa) 4.50 Apr 2024 monthly Jan 1999 - Apr 2024
Qatar (% pa) 6.25 Mar 2024 monthly Mar 2003 - Mar 2024
Romania (% pa) 7.00 Apr 2024 monthly Jan 2003 - Apr 2024
Russia (% pa) 16.00 Apr 2024 monthly Sep 2013 - Apr 2024
Saudi Arabia (% pa) 6.00 Apr 2024 monthly Jan 2000 - Apr 2024
Serbia (% pa) 6.50 Apr 2024 monthly Jan 2001 - Apr 2024
Singapore (% pa) 4.00 Jun 2023 monthly Jul 2005 - Jun 2023
Slovakia (% pa) 4.50 Apr 2024 monthly Jan 1999 - Apr 2024
Slovenia (% pa) 4.50 Apr 2024 monthly Jan 1999 - Apr 2024
South Africa (% pa) 8.25 Apr 2024 monthly Nov 1999 - Apr 2024
Spain (% pa) 4.50 Apr 2024 monthly Jan 1999 - Apr 2024
Sri Lanka (% pa) 8.50 Apr 2024 monthly Jan 1997 - Apr 2024
Sweden (% pa) 4.00 Apr 2024 monthly Jan 1987 - Apr 2024
Switzerland (% pa) 1.44 Apr 2024 monthly Jun 1999 - Apr 2024
Syria (% pa) 5.00 Apr 2024 monthly Jan 1962 - Apr 2024
Taiwan (% pa) 2.00 Apr 2024 monthly Jul 1961 - Apr 2024
Tajikistan (% pa) 9.50 Apr 2024 monthly Jun 1995 - Apr 2024
Thailand (% pa) 2.50 Apr 2024 monthly May 2000 - Apr 2024
Tunisia (% pa) 8.00 Apr 2024 monthly Jan 2000 - Apr 2024
Turkey (% pa) 50.00 Apr 2024 monthly Jun 1996 - Apr 2024
Ukraine (% pa) 13.50 Apr 2024 monthly Dec 1992 - Apr 2024
United Arab Emirates (% pa) 5.40 Apr 2024 monthly Nov 2007 - Apr 2024

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Nigeria Key Series

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Includes 182 key indicators for Nigeria, curated by CEIC analysts. Instant access to full history data in excel.
Government and Public Finance Last Frequency Range
Consolidated Fiscal Balance: % of GDP (%) -4.8 Sep 2023 quarterly Dec 2010 - Sep 2023
Consolidated Fiscal Balance (USD mn) -3,071.175 Sep 2023 quarterly Mar 2005 - Sep 2023
National Government Debt (USD mn) 101,710.7 Dec 2023 quarterly Dec 2006 - Dec 2023
Government Debt: % of GDP (%) 39.8 Dec 2023 quarterly Dec 2010 - Dec 2023
Forecast: Government Expenditure (NGN bn) 99,387.936 2029 yearly 1990 - 2029
Forecast: Government Net Debt (NGN bn) 205,772.040 2028 yearly 1990 - 2028
Forecast: Government Revenue (NGN bn) 74,924.965 2029 yearly 1990 - 2029
Federal Govt Balance (NGN bn) -2,347.160 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Expenditure: Capital (NGN bn) 1,043.310 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Expenditure: Recurrent (NGN bn) 2,791.110 Sep 2023 quarterly Mar 2005 - Sep 2023
Gross Federation Account Revenue (NGN bn) 4,791.390 Sep 2023 quarterly Mar 2005 - Sep 2023
Gross Federation Account Revenue: Oil (NGN bn) 814.230 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Expenditure (NGN bn) 4,040.180 Sep 2023 quarterly Mar 2005 - Sep 2023
Federal Govt Revenue (NGN bn) 1,693.020 Sep 2023 quarterly Mar 2005 - Sep 2023
Government Debt: Domestic (NGN bn) 53,258.012 Dec 2023 quarterly Dec 2005 - Dec 2023
Foreign Trade Last Frequency Range
Forecast: Exports of Goods Growth (%) -1.879 2028 yearly 1991 - 2028
Trade Balance (USD mn) 1,889.4 Sep 2023 monthly Jan 2003 - Sep 2023
Total Exports (USD mn) 4,751.7 Dec 2023 monthly Jan 2003 - Dec 2023
Total Exports Growth (%) 82.1 Dec 2023 monthly Jan 2004 - Dec 2023
Aluminum: Exports (USD th) 165,856.846 2022 yearly 1995 - 2022
Exports: Medicament (USD th) 2,876.353 2022 yearly 1995 - 2022
Exports: Medicinal and Pharmaceutical Product (USD th) 480.530 2022 yearly 1995 - 2022
Total Imports (USD mn) 2,989.3 Mar 2023 monthly Jan 2003 - Mar 2023
Total Imports Growth (%) 34.5 Sep 2023 monthly Jan 2004 - Sep 2023
Imports: Medicament (USD th) 755,360.705 2022 yearly 1995 - 2022
Imports: Medicinal and Pharmaceutical Product (USD th) 508,406.689 2022 yearly 1995 - 2022
Total Exports to USA (USD mn) 332.105 Dec 2023 monthly Jan 2003 - Dec 2023
Total Imports from USA (USD mn) 176.789 Dec 2023 monthly Dec 2009 - Dec 2023
Total Exports to China (USD mn) 24.772 Sep 2023 monthly Jan 2007 - Sep 2023
Total Imports from China (USD mn) 715.679 Sep 2023 monthly Jan 2007 - Sep 2023
Imports (NGN mn) 2,429,185.197 Sep 2023 monthly Jan 2003 - Sep 2023
Exports: Crude Oil (NGN mn) 3,404,818.113 Dec 2023 monthly Jan 2003 - Dec 2023
Total Trade (NGN mn) 6,865,948.584 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: America: ow USA (NGN mn) 299,453.208 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: Europe: ow Netherlands (NGN mn) 523,568.988 Dec 2023 monthly Jan 2003 - Dec 2023
Exports (NGN mn) 4,284,566.609 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: Europe: ow UK (NGN mn) 93,037.938 Dec 2023 monthly Jan 2003 - Dec 2023
Exports: Vegetable Products (NGN mn) 316,546.604 2022 yearly 2003 - 2022
Exports: Mineral Products (NGN mn) 24,389,951.388 2022 yearly 2003 - 2022
Imports: Europe: ow Germany (NGN mn) 68,742.651 Sep 2023 monthly Jan 2003 - Sep 2023
Imports: Europe: ow Netherlands (NGN mn) 158,090.619 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: America: ow USA (NGN mn) 159,407.643 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Europe: ow UK (NGN mn) 71,966.938 Sep 2023 monthly Jan 2003 - Sep 2023
Imports: Asia: ow China (NGN mn) 631,502.155 Dec 2023 monthly Jan 2007 - Dec 2023
Imports: Chemicals and Chemical Products (NGN mn) 385,751.608 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Manufactured Goods (NGN mn) 184,959.341 Sep 2023 monthly Jan 2003 - Sep 2023
Imports: Mineral Fuels, Lubricants and Related Materials (NGN mn) 810,486.908 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Food and Live Animals (NGN mn) 364,417.505 Dec 2023 monthly Jan 2003 - Dec 2023
Imports: Machinery and Transport Equipment (NGN mn) 639,703.694 Sep 2023 monthly Jan 2003 - Sep 2023
Balance of Payments Last Frequency Range
Direct Investment Abroad (USD mn) 44.0 Sep 2023 quarterly Mar 2008 - Sep 2023
Current Account Balance (USD mn) 1,545.4 Sep 2023 quarterly Mar 2014 - Sep 2023
Current Account Balance: % of GDP (%) 1.9 Sep 2023 quarterly Mar 2014 - Sep 2023
Foreign Direct Investment (USD mn) 1,197.6 Mar 2023 quarterly Mar 2014 - Mar 2023
Foreign Direct Investment: % of GDP (%) 1.1 Sep 2023 quarterly Mar 2010 - Sep 2023
Foreign Portfolio Investment (USD mn) 2,876.923 Sep 2023 quarterly Mar 2008 - Sep 2023
Foreign Portfolio Investment: % of GDP (%) 3.6 Sep 2023 quarterly Mar 2010 - Sep 2023
Foreign Portfolio Investment: Equity Securities (USD mn) 270.9 Sep 2023 quarterly Mar 2008 - Sep 2023
Foreign Portfolio Investment: Debt Securities (USD mn) 2,606.059 Sep 2023 quarterly Mar 2008 - Sep 2023
External Debt (USD mn) 42,495.2 Dec 2023 quarterly Dec 2006 - Dec 2023
External Debt: % of GDP (%) 11.9 2023 yearly 1985 - 2023
External Debt: Short Term (USD mn) 1,005.6 2020 yearly 2008 - 2020
External Debt: Short Term: % of GDP (%) 0.2 2020 yearly 2008 - 2020
Forecast: Current Account Balance (USD bn) 0.890 2028 yearly 1980 - 2028
Net International Investment Position (USD mn) -90,273.874 2022 yearly 2005 - 2022
External Debt: Service Payments (USD mn) 194.440 Dec 2018 quarterly Mar 2008 - Dec 2018
External Debt: Government (USD mn) 42,495.160 Dec 2023 quarterly Dec 2006 - Dec 2023
External Debt: Government: International Capital Market (USD mn) 15,118.350 Dec 2023 quarterly Mar 2011 - Dec 2023
Capital Inflow: Foreign Direct Investment (USD) 20,080,525.860 Nov 2022 monthly Jan 2007 - Nov 2022
Monetary Last Frequency Range
Non Performing Loans Ratio (%) 6.1 2019 yearly 2003 - 2019
Non-Performing Loans (USD mn) 3,315.011 Mar 2021 quarterly Mar 2007 - Mar 2021
Money Supply M1 (USD mn) 24,423.728 Mar 2024 monthly Nov 1992 - Mar 2024
Money Supply M2 (USD mn) 69,409.454 Mar 2024 monthly Nov 1992 - Mar 2024
M2 Growth (%) 70.4 Mar 2024 monthly Nov 1993 - Mar 2024
Reserve Requirement Ratio (%) 45.0 Apr 2024 monthly Nov 2005 - Apr 2024
Foreign Exchange Reserves (USD mn) 33,217.6 Dec 2023 monthly Jan 1960 - Dec 2023
Foreign Exchange Reserves: % of GDP (%) 8.942 Dec 2023 quarterly Dec 2010 - Dec 2023
Foreign Exchange Reserves: Months of Import (NA) 11.6 Dec 2023 monthly Jan 2003 - Dec 2023
Gold Reserves (USD mn) 1,273.284 Sep 2023 monthly Dec 1950 - Sep 2023
Total Deposits (USD mn) 84,213.801 Dec 2019 monthly Nov 1992 - Dec 2019
Total Deposits Growth (%) 2.6 Dec 2019 monthly Nov 1993 - Dec 2019
Domestic Credit (USD mn) 68,258.1 Mar 2024 monthly Nov 1992 - Mar 2024
Domestic Credit Growth (%) 28.7 Mar 2024 monthly Nov 1993 - Mar 2024
Private Debt: % of Nominal GDP (%) 16.22 Sep 2023 quarterly Dec 2010 - Sep 2023
Monetary Survey: Liabilities: Base Money (NGN mn) 23,384,818.660 Mar 2024 monthly Jan 1993 - Mar 2024
Monetary Survey: Liabilities: M2: Quasi Money (NGN mn) 59,842,712.030 Mar 2024 monthly Nov 1992 - Mar 2024
Monetary Survey: Liabilities: M2 (NGN mn) 92,332,620.210 Mar 2024 monthly Nov 1992 - Mar 2024
Monetary Survey: Liabilities: M3 (NGN mn) 35,345,802.020 Jun 2020 monthly Nov 1992 - Jun 2020
Monetary Survey: Liabilities: M2: M1 (NGN mn) 32,489,908.180 Mar 2024 monthly Nov 1992 - Mar 2024
Non Performing Loans to Gross Loans (%) 4.210 Dec 2022 semiannually Dec 2003 - Dec 2022
Business and Economic Survey Last Frequency Range
Business Confidence Growth (% Point) -0.6 Nov 2023 monthly Jul 2015 - Nov 2023

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