By Abiola Olawale
The Central Bank of Nigeria (CBN), under the leadership of Governor Olayemi Cardoso, has announced its decision to maintain the Monetary Policy Rate (MPR), the benchmark interest rate, at 27.0%.
The decision was reached at the conclusion of the Monetary Policy Committee (MPC) meeting on Tuesday, November 25, 2025.
Cardoso, in his post-MPC briefing, anchored the decision on the need to sustain the progress made in disinflation and to fully assess the impact of previous, aggressive policy tightening.
Cardoso stated: “The committee welcomed the continued deceleration in headline inflation year on year in October, 2025 for the seventh consecutive month, this favorable development resulted from several factors, including sustained monetary policy tightening, stable exchange rate, increased capital flows and surplus current account balance.”
The CBN boss added that relative stability in petrol (PMS) prices and improved food supply helped ease inflation. However, headline inflation remains in double digits, requiring ongoing efforts to bring it down.
The committee noted that the steady slowdown in overall and food inflation in October 2025 suggests that the effects of previous policy measures, including tax changes, will continue to play out.
Maintaining the current policy stance amid global uncertainties will allow the impact of earlier rate hikes to fully reach the real economy and further moderate prices.”
“Members noted that the robust performance of the external sector, evidenced by the surplus current account balance and steady addition to reserves which have contributed to stability in the exchange rate and moderation in inflation,” he said.
The New Diplomat reports that inflation, which reached repeated 28-year highs in 2023 after fuel subsidy removal and a sharp naira devaluation, has eased for several months. Headline inflation slowed to 16.05 per cent in October from 18.02 per cent in September, according to the latest figures.
