Nigeria interest rate
Central Bank of Nigeria
- Policy rate
- 27.00%
- Apr 2026
- Last move
- None
- in the past year
- Inflation
- 15.4%
- Aug 2026
- 10-year bond yield
- –
- not available
The policy rate set by the Central Bank of Nigeria is 27.00% as of Apr 2026. It has not changed the rate in the past year. With consumer prices up 15.4% over the 12 months to Aug 2026, the real rate (policy rate minus inflation) is +11.6%: borrowing costs are above inflation.
Policy rate over the past two years
Apr 2026: 27.00%
Rate changes
| When | Decision | From | To | Change |
|---|---|---|---|---|
| Sep 2025 | Cut | 27.50% | 27.00% | −0.50 pt |
| Nov 2024 | Hike | 27.25% | 27.50% | +0.25 pt |
| Sep 2024 | Hike | 26.75% | 27.25% | +0.50 pt |
| Jul 2024 | Hike | 26.25% | 26.75% | +0.50 pt |
| May 2024 | Hike | 24.75% | 26.25% | +1.50 pt |
Changes between month-end rates. Two decisions in one month show up as a single change.
Inflation (% vs a year earlier)
Aug 2026: 15.4%
Other central banks in Africa
Source: IMF monetary statistics; inflation: IMF CPI. Updated daily. All central bank rates · Nigeria economy dashboard