The Monetary Policy Committee of the Central Bank of Nigeria has retained the country’s benchmark interest rate, known as the Monetary Policy Rate, at 26.5 per pcent.
The decision was announced on Wednesday by9p the Governor of the Central Bank of Nigeria, Olayemi Cardoso, at the end of the MPC’s 305th meeting held in Abuja.
Cardoso said the committee resolved to maintain the current rate in line with efforts aimed at sustaining monetary stability.
“The Committee’s decision is as follows: retain the Monetary Policy Rate at 26.5 per cent,” he stated.
The latest decision comes months after the apex bank reduced the rate by 50 basis points in February 2026, following an earlier decision to maintain rates during the November 2025 MPC meeting.
The committee’s move also followed a recent increase in Nigeria’s inflation rate.
According to the latest Consumer Price Index report released by the National Bureau of Statistics, the country’s headline inflation rose slightly to 15.69 per cent in April 2026 from 15.38 per cent recorded in March.
The figures showed an increase of 0.31 percentage points within the period under review.
Analysts say the MPC’s decision to retain rates may be linked to ongoing concerns over inflationary pressure and efforts to stabilise prices in the economy.
More details later.