The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has retained the Monetary Policy Rate (MPR) at 26.5% following its 305th meeting held on May 19 and 20. Speaking after the meeting, CBN Governor said the committee decided to maintain all key monetary policy parameters, reflecting a cautious approach toward inflation control and…
Nigeria’s poverty rate rose to 63 per cent in 2025, even as inflation eased, highlighting the limited impact of recent economic improvements on citizens’ living conditions, according to the World Bank. The figures were published in the bank’s April 2026 Nigeria Development Update titled “Nigeria’s Tomorrow Must Start Today: The Case for Early Childhood Development,” unveiled in Abuja. The…
The International Monetary Fund has warned that the ongoing conflict involving Iran could trigger a rise in global inflation, particularly if energy prices remain elevated. IMF spokesperson Julie Kozack said the organisation is closely monitoring the economic impact of the crisis, noting that prolonged high oil prices could significantly affect global economies. According to her, if crude oil prices stay above…
The National Bureau of Statistics (NBS) has reported a marginal decline in Nigeria’s headline inflation rate, which eased to 15.06% in February 2026, down from 15.10% in January 2026. The NBS emphasized that food prices remain the dominant driver of inflation, underscoring the need for targeted policies to stabilize household consumption.
Nigeria’s disinflationary trend is facing new headwinds as global energy prices surge. Coronation Asset Management projects headline inflation at 14.12% in February 2026, down from 15.10% in January, but warns that volatile energy costs are stifling progress. While a stronger naira has eased food import pressures, rising crude benchmarks and higher pump prices (₦799/litre from…
The International Monetary Fund (IMF) has expressed support for Nigeria’s December 2025 inflation figures and praised the National Bureau of Statistics (NBS) for revising its inflation measurement methodology, noting that the changes align with international best practices and promote macroeconomic stability. In a statement released on Thursday on behalf of the IMF Resident Representative for…
Nigeria’s headline inflation rate declined to 18.02% in September 2025, marking a 2.1 percentage point drop from the 20.12% recorded in August. This was revealed in data released by the National Bureau of Statistics (NBS) on Wednesday. The latest figure marks the sixth straight month of decline since April 2025.
The World Bank has revised its economic growth forecast for Nigeria and other sub-Saharan African countries, projecting a stronger expansion of 3.8% in 2025, driven by easing inflation and more stable macroeconomic conditions. This upgrade follows recent monetary policy adjustments, including the Central Bank of Nigeria’s decision last month to lower its benchmark interest rate…
The Central Bank of Nigeria (CBN) has reduced its Monetary Policy Rate (MPR) by 50 basis points — from 27.5% to 27% — following its 302nd Monetary Policy Committee meeting held on September 22–23, 2025. CBN Governor Dr. Olayemi Cardoso explained that the decision was driven by five consecutive months of disinflation, positive inflation projections…
Inflation across the eurozone remained unchanged at 2.0% in July, defying expectations of a slight dip, according to data from Eurostat released Friday. Analysts had forecast a drop to 1.9%, but persistent pressures—particularly a slower decline in energy prices—kept inflation aligned with the European Central Bank’s target. Core inflation, which excludes energy, food, alcohol, and…
