The Central Bank of Nigeria (CBN) has reduced the country’s interest rate by 50 basic points to 27%, marking the first rate cut in 2025.
The governor of CBN, Olayemi Cardoso, announced the decision during an informative press session on Tuesday after the 302nd Meeting of the Monetary Policy Committee (MPC) in Abuja.
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The reduction occurs after three consecutive pauses in rates settings and follows six increases in consecutive rates recorded during 2024.
Cardoso attributed the decision to the consistent disinflation observed in Nigeria, indicating a change in monetary policy to support economic stability.
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