Nigerian retirement savers have contributed 8.4 trillion to their RSAs in 19 years since 2004
Since 2004, Nigerian employees have saved a cumulative ₦8.4 trillion for their retirement. Employees in the public sector have saved ₦4.4 trillion, while those in the private sector have put ₦4 trillion aside.
Zimbabwe has the highest benchmark interest rate in Africa at 35%, exceeding Ghana, the second highest, by 7% points.
Nigeria holds the third highest interest rate on the continent at 27.5%, just 0.5% points behind Ghana, signalling aggressive policy intervention.
Zimbabwe, Ghana, Nigeria, Malawi, and Egypt have interest rates above 25%, showing a regional pattern of tight monetary conditions.
There is a significant drop of over 5% points between Sierra Leone at 24.75% and Angola at 19.5%, marking a clear shift to lower-rate economies below the top tier.