Nigeria's Prime Lending Rate Holds at 18.88% Amid 27% Monetary Policy Rate

The average prime lending rate in Nigeria's banking sector increased to 18.88% in August 2025 from 18.54% in July 2025, following recent adjustments in the Monetary Policy Rate (MPR) by the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN). This rate is the highest so far in the year, attributed to easing inflation and improving macroeconomic indicators.

Despite the MPR remaining stable at 27.5% from January to July 2025, the average prime lending rate fluctuated between 17.96% and 18.88%. Various banks like Access Bank, Ecobank, FCMB, Fidelity Bank, and others have different average prime lending rates, impacting borrowing costs and economic activities in Nigeria.