CBN retains Nigeria’s interest rate at 27.50% amid inflation drops
decided to keep the country’s interest rate at 27.50% in January 2025. This is the same rate set in November 2024, even as inflation has started to decrease. CBN Governor, Olayemi Cardoso, made this announcement after the 299th Monetary Policy Committee (MPC) meeting in Abuja. He explained that the committee chose to maintain the rate […]
More Hardship As Nigeria’s Inflation Rate Climbs to 34.60 Percent In November
The economic challenges in Nigeria have worsened, with the inflation rate hitting 34.60 percent in November 2024. This marks an increase from the 33.88 percent recorded in October, further stretching the finances of ordinary Nigerians. Details from the National Bureau of StatisticsThe National Bureau of Statistics (NBS) released a new report showing that inflation rose […]
Higher Interest Rates Are Difficult for Borrowers But Essential for Controlling Inflation – Cardoso
The Central Bank of Nigeria (CBN) has recently taken a decisive step to combat rising inflation by raising the Monetary Policy Rate (MPR) to 27.25%. This bold move, announced by Governor Olayemi Cardoso, reflects the bank’s commitment to addressing the economic challenges facing the country. While this decision may be painful for borrowers, Cardoso insists […]
One Year in Office: Poor Policy Decisions Hurt Nigerian Economy
Over the past year, Nigerians have faced increased suffering as President Bola Ahmed Tinubu’s eight-point agenda has not effectively addressed rising inflation, unemployment, and a declining GDP. President Tinubu’s administration has promised improvements, but issues like unemployment, inflation, and GDP remain problematic. His notable “Fuel Subsidy is Gone” statement on May 29 led to the […]