The Monetary Policy Committee of the Central Bank of Nigeria has opted to retain the benchmark interest rate at 27 per cent, continuing its decision to pause further monetary tightening.
CBN Governor Olayemi Cardoso announced the decision on Tuesday after the committee concluded its 303rd meeting in Abuja.
Cardoso explained that most MPC members agreed that maintaining the current stance was the safest option given the country’s present economic conditions.
He noted that “the Committee decided by a majority vote to maintain the monetary policy stance,” adding that members did not believe the economic environment was stable enough to support an additional rate cut.
This move comes after a modest 50-basis-point reduction in September 2025 — the first and only rate cut since the tightening cycle began under the current CBN administration.
With Tuesday’s announcement, the MPC has now kept the Monetary Policy Rate unchanged for the fourth time this year.
In 2024, the committee raised interest rates six times to curb soaring inflation and stabilise the naira, marking one of the most aggressive tightening phases in years.
Although inflation has shown slight signs of cooling, policymakers indicated that they prefer a cautious approach while assessing the sustainability of current economic improvements.
