The Central Bank of Nigeria (CBN) has announced that its 300th Monetary Policy Committee (MPC) meeting will be held on May 19 and 20, 2025, at its headquarters in Abuja.
The committee, chaired by CBN Governor Olayemi Cardoso, is the apex policymaking body of the bank responsible for setting interest rates and directing monetary policy.
This meeting comes amid continued focus on stabilizing Nigeria’s macroeconomic indicators, with stakeholders closely watching the MPC’s next move on the Monetary Policy Rate (MPR), currently held at 27.5 percent.
At its last session on February 19 and 20, the MPC opted to retain the MPR, alongside maintaining the Cash Reserve Ratio (CRR) at 50 percent and Liquidity Ratio at 30 percent.
The decision followed a National Bureau of Statistics (NBS) report published on February 18, which indicated that Nigeria’s inflation rate dropped to 24.48 percent—down from 34.8 percent—after a rebasing of the Consumer Price Index (CPI).
Okay.ng reports that during the February post-meeting briefing, Cardoso said the committee was satisfied with recent macroeconomic developments, particularly the stability in the foreign exchange market and the appreciation of the naira, along with a gradual reduction in petrol prices.
“These include the stability in the foreign exchange market with the resultant appreciation of the exchange rate and the gradual moderation in the price of PMS,” the governor stated.
Cardoso also reiterated the committee’s call for stronger coordination between monetary and fiscal authorities, emphasizing the need for alignment to support price stability and long-term economic growth.
