The Monetary Policy Committee of the Central Bank of Nigeria has announced a reduction in the country’s benchmark lending rate to 26.5 per cent as part of efforts to sustain improving economic conditions.
Governor of the apex bank, Olayemi Cardoso, disclosed the decision on Tuesday while briefing journalists after the conclusion of the committee’s 304th meeting in Abuja.
He explained that members agreed to trim the Monetary Policy Rate by 50 basis points, representing the second downward adjustment since the current leadership assumed office.
Cardoso stated that the rate cut reflects the committee’s assessment of prevailing economic indicators and the need to balance inflation control with economic growth.
The latest move comes after a similar reduction introduced in September 2025, while the committee retained the rate at its previous meeting held in November the same year.
Financial observers believe the adjustment was influenced by moderating inflation figures recorded in recent months.
Nigeria’s headline inflation rate eased to 15.10 per cent in January 2026, creating room for a cautious relaxation of monetary policy measures.
The central bank is expected to release additional insights into its policy outlook and economic projections following the meeting.
