The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has lowered the nation’s interest rate to 27.00%, marking the first reduction of 2025.
CBN Governor, Olayemi Cardoso, announced the decision on Tuesday during a press briefing after the bank’s 302nd MPC meeting in Abuja.
“The Committee decided as follows: (1) reduce the monetary policy rate by 50 basis points to 27 per cent,” Cardoso stated.
The move follows three consecutive pauses in interest rates and reflects the the Apex Bank’s confidence in Nigeria’s ongoing disinflation trend.
It also comes after a period of aggressive monetary tightening, with six consecutive rate hikes recorded in 2024.
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