In Nigeria, interest rate decisions are taken by The Central Bank of Nigeria. The official interest rate is the Monetary Policy Rate (MPR).
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The Central Bank of Nigeria maintained its benchmark rate at 27% on November 25, 2025, following a 50 bps cut in September, saying the pause was necessary to maintain the progress achieved in ensuring low and stable inflation. Governor Cardoso said the Committee decided by a majority vote to maintain the current policy stance, suggesting that members were not yet convinced economic conditions justified another cut. Policymakers welcomed the continued slowdown in headline inflation, supported by sustained monetary tightening and a more stable exchange rate, but noted it remains high, requiring further policy efforts. Nigeria’s annual inflation rate fell for the seventh straight month to 16.05% in October 2025, the softest since March 2022, from 18.02% in the prior month. The central bank also kept all other rates unchanged but adjusted the corridor around the MPR at +50-450% from +250-250% in September 2025.
