Deborah Akinyosoye
The Central Bank of Nigeria (CBN) has maintained the Monetary Policy Rate (MPR) at 27.5 per cent, marking the third consecutive time the rate has been held steady this year.
CBN Governor Olayemi Cardoso announced the decision on Tuesday at the conclusion of the Monetary Policy Committee’s (MPC) 301st meeting held in Abuja.
Cardoso stated that the committee also retained the asymmetric corridor of +500/-100 basis points around the MPR, alongside other key policy parameters.
He said the committee’s decision reflects ongoing efforts to strike a balance between sustaining monetary tightening to combat inflation and ensuring that interest rate stability does not stifle economic growth.
The MPC, he added, acknowledged recent government efforts to improve national security, particularly as it relates to food security.
The Monetary Policy Rate is the benchmark interest rate that guides lending rates in the financial system and serves as a primary tool in managing inflation. The apex bank last adjusted the MPR in March 2025, raising it from 24.75 per cent to 27.5 per cent.