Olayemi Cardoso, the Governor of the Central Bank of Nigeria, reiterated the apex bank’s focus on reducing the country’s inflation to single digits in the medium term.
This statement was made following the conclusion of the 2025 International Monetary Fund and World Bank Spring Meetings in Washington, D.C.
Cardoso acknowledged that inflation is a major threat to the welfare of Nigerians and stressed the importance of tackling it to stabilize household incomes and improve living costs nationwide.
“Inflation remains the most disruptive force against the economic welfare of Nigerians. Our focus is to bring it down to single digits over the medium term,” he said.
At the Spring Meetings, Nigeria’s delegation, led by Minister of Finance Wale Edun and including Cardoso, discussed these inflation issues. As of March 2025, Nigeria’s inflation rate had decreased to 24.28% from 23.18%.
