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Nigeria

West Africa NGN

Updated 16 Jul 2025 · Annual profile cycle

Risk Rating B+

Macro Indicators

2025
GDP Growth (2024) 3.4%
Inflation — CPI (Jun 2025) 33.8%
Monetary Policy Rate 26.75%
Current Account (% GDP) -1.2%
External Debt (% GDP) 19.4%
Fiscal Deficit (% GDP) -5.6%

Banking Sector

Q1 2025
Capital Adequacy Ratio 14.8%
Non-Performing Loans 6.2%
Return on Equity 22.4%
Loan-to-Deposit Ratio 41.5%
Licensed Commercial Banks 24
Total Banking Assets ₦177.9tr

FX Rates — NGN

16 Jul 2025
USD/NGN
1,595.40 +0.4%
EUR/NGN
1,741.20 +0.8%
GBP/NGN
2,048.60 -0.2%
AED/NGN
434.20 +0.3%

Source: CBN IFEM / Bloomberg

Capital Markets

YTD 2025
NGX All-Share Index 98,240 pts
YTD Performance +11.3%
Market Capitalisation ₦56.4tr
Daily Ave. Turnover ₦432m
Listed Companies 155
FGN Bond Yield (10yr) 18.7%

Regulatory Timeline

2025
01 Aug 2025 Regulation SEC Directive 2025-04 on digital asset classification takes effect
16 Jul 2025 Monetary Policy CBN MPC holds MPR at 26.75% — next meeting September 2025
28 Jun 2025 Regulation NAICOM issues revised insurance minimum capital requirements
15 Jun 2025 Banking CBN raises LCR threshold for systemically important banks to 100%
01 Apr 2025 Tax FIRS introduces e-invoicing mandate for companies with turnover above NGN 1 billion