Prime lending rate refers to the average prevailing lending rate charged by most deposit money banks in Nigeria to some of its more favored customers. Maximum lending rates refers to the average of the highest lending rates charged by deposit money banks in Nigeria. The disparity between both rates have widened over the years particularly since 2009 topping a differential of about 10% in most instances. Bank Fixed Deposit Interest Rates Bank Lending Interest Rates Company Registrars Company Results - NSE Naira exchange rates Stock Market Daily Reports Stock Exchange (NSE) Company Reports Company Profiles - listed in the NSE Personal Financial Management SME Business Guide, Resources Treasury Bills / Bonds Auction Results Facts and statistics about the Commercial bank prime lending rate of Nigeria. Updated as of 2019. Nigeria Commercial bank prime lending rate. Factbook > Countries > Nigeria > Economy. Commercial bank prime lending rate: 17.58% (31 December 2017 est.) 16.87% (31 December 2016 est.) The chart above reveals just how wide the gap between Savings, Prime and Maximum Lending Rates currently is in Nigeria. Between Savings and Prime Lending Rate the gap is about 13.5% while the gap between Savings deposit rates and the Maximum lending rate is a whopping 27.4%, the highest we have also seen since 2006. Nigeria Bank Lending Rate. 2006 - 2019 | Monthly | % pa | CEIC Data Nigeria’s Bank Lending Rate was reported at 15.460 % pa in Jul 2019. This records a decrease from the previous number of 15.800 % pa for Jun 2019. Nigeria’s Bank Lending Rate data is updated monthly, averaging 16.780 % pa from Jan 2006 to Jul 2019, Nigeria Holds Key Interest Rate at 13.5%. The Central Bank of Nigeria held its monetary policy rate at 13.5 percent during its July meeting, as widely expected, as inflation rate remains well above the bank's target range of 6-9 percent and GDP growth remains subdued.
Nigeria Bank Lending Rate. 2006 - 2019 | Monthly | % pa | CEIC Data Nigeria’s Bank Lending Rate was reported at 15.460 % pa in Jul 2019. This records a decrease from the previous number of 15.800 % pa for Jun 2019. Nigeria’s Bank Lending Rate data is updated monthly, averaging 16.780 % pa from Jan 2006 to Jul 2019, Nigeria Holds Key Interest Rate at 13.5%. The Central Bank of Nigeria held its monetary policy rate at 13.5 percent during its July meeting, as widely expected, as inflation rate remains well above the bank's target range of 6-9 percent and GDP growth remains subdued. The global pursuit of financial inclusion as a vehicle for economic development had a positive effect in Nigeria as the exclusion rate reduced from 53.0 % in 2008 to 46.3 % in 2010. PAYMENTS SYSTEM Payments System Prime rate, federal funds rate, COFI The prime rate, as reported by The Wall Street Journal's bank survey, is among the most widely used benchmark in setting home equity lines of credit and credit
Value & Rank The Commercial bank prime lending rate of Nigeria is 15.5 (%) with a global rank of 34. Nigeria - Lending interest rate. In 2018, lending interest rate for Nigeria was 16.9 %. Though Nigeria lending interest rate fluctuated substantially in recent years, it tended to decrease through 1999 - 2018 period ending at 16.9 % in 2018. Lending interest rate (%) - Nigeria from The World Bank: Data. Data. Interest rate spread (lending rate minus deposit rate, %) Deposit interest rate (%) Bank nonperforming loans to total gross loans (%) Account ownership at a financial institution or with a mobile-money-service provider, richest 60% (% of population ages 15+) This paper examines the relationship between the prime lending rate and the performance of microfinance banks in Nigeria. It uses variables like total assets, total loan obtained, deposits, and shareholder funds to measure the performance of microfinance banks in the country. Lending rates are expected to rise in coming weeks as Nigerian banks begin to show the strain of tougher monetary policies and regulatory environment. Lending rates, which is already a nightmare for manufacturers and private businesses due to the fact that they are on the high side, range from 26 per cent to about 34 per cent (and even more), among the banks. Also, according to the CBN publication, banks prime lending rate to mortgage moved from 12 per cent to 24 per cent, with maximum lending rate hitting 18 per cent to 32 per cent. The transport and communication segment attracted prime lending rate of 14 per cent to 24 per cent with maximum lending rate ranging from 18 per cent to 32 per cent.
28 Jun 2019 For example, the Central Bank of Nigeria (CBN) reported a prime lending rate for manufacturing companies (the interest rate for the most Variable Interest rate benchmarked against UBA Prime Lending Rate (PLR); Loan tenor of up to 20 years; Loan Amount up to 80% of property value subject to a 26 Sep 2019 First, we confirm the existence of long-run relationships between MPR and two retail rates (prime lending rate and savings deposit rate), albeit
Nigeria's Prime Lending Rate data was reported at 15.040 % pa in Feb 2020. This records an increase from the previous number of 14.970 % pa for Jan 2020.