Market News

In a notice released on Tuesday, the CBN said its next MPC meeting will happen on May 19 and 20 at its main office in Abuja.

The committee, headed by CBN Governor Olayemi Cardoso, is the bank’s highest policymaking body.

During the previous meeting in February 2025, the committee retained the monetary policy rate (MPR) at 27.5 per cent. This key interest rate influences all other interest rates in the country.

This decision came after the National Bureau of Statistics reported that Nigeria’s inflation rate dropped to 24.48 per cent from 34.8 per cent, following a recalculation of the consumer price index.

The committee also kept other important financial measures unchanged: the cash reserve ratio at 50 per cent and the liquidity ratio at 30 per cent.

At the February press briefing, Governor Cardoso expressed satisfaction with recent economic developments. He noted that stability in the foreign exchange market and lower fuel prices should soon positively affect the economy.

Cardoso also emphasised the importance of continued cooperation between monetary authorities (the central bank) and fiscal authorities (the government) to achieve both stable prices and sustainable economic growth.