The Central Bank of Nigeria’s Monetary Policy Committee has lowered the benchmark interest rate to 27.00 percent, marking the first adjustment of 2025.

CBN Governor Olayemi Cardoso announced the decision on Tuesday at a press briefing following the 302nd MPC meeting in Abuja.

The Committee decided as follows: (1) reduce the monetary policy rate by 50 basis points to 27 per cent,” he said.

This 50 basis points reduction comes after three consecutive pauses in rates.

Cardoso explained that the cut was driven by the steady disinflation trend observed in the economy.

Details later…