Interest rate on bank loans reached 16.4% in second quarter of 2015 in Nigeria, according to the National Central Bank. This is 2.49% less than in the previous quarter.
Historically, interest rate on bank loans in Nigeria reached an all time high of 34.9% in 4Q1993 and an all time low of 13.9% in 2Q2008.
Nigeria has been ranked 21st within the group of 109 countries we follow in terms of interest rate on bank loans.
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