MPC HIGHLIGHT – FEBRUARY 2025
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its first meeting for 2025 on February 19–20, 2025 and unanimously voted to retain all monetary policy parameters unchanged. This decision reflects a cautious approach amid…
INFLATION WATCH – January 2025
Inflation Watch – Rebased CPI Drives Nigeria’s Inflation Down to 24.48% in January 2025 In January 2025, Nigeria’s headline inflation rate fell to 24.48% year-on-year (y/y), a notable decrease from the 34.80% recorded in December 2024. This…
INFLATION WATCH – December 2024
Inflation Watch – Nigeria’s Inflation Peaks at 34.80% in December 2024 Amid Festive Demand Surge In December 2024, Nigeria’s inflation rate rose to 34.80% y/y, an increase from 34.60% in November. This marks the fourth consecutive monthly…
INFLATION WATCH – November 2024
Inflation Watch – Nigeria’s Inflation Hits 34.60% as Food and Transport Costs Soar Nigeria’s inflation rate accelerated in November 2024 to 34.60% y/y, up from 33.88% in October, marking the third consecutive monthly increase and the highest level…
MPC HIGHLIGHT – NOVEMBER 2024
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its final meeting for 2024 today and decided to increase the benchmark interest rate by 25 bps to 27.50%. This marks the sixth consecutive rate hike this year as part of…
Q3 2024 GDP Highlights
NIGERIA’S GDP GREW AT 3.46% IN Q3’24 YoY The Nigerian GDP report for Q3 2024 revealed a growth rate of 3.46% year-on-year, an improvement from the 3.19% recorded in Q2. The services sector remains dominant, contributing around 53.58% of GDP…
INFLATION WATCH – October 2024
Inflation Watch – Economic Strain Intensifies as Inflation Climbs Again to 33.88% in Nigeria In October 2024, Nigeria’s inflation rate rose to 33.88% y/y, surpassing the estimated rate of 33.10% and increasing from 32.70% in September. This…
INFLATION WATCH – September 2024
Inflation Watch – Nigeria’s Inflation Surges to 32.70%, Reversing Two-Month Decline Streak In September 2024, Nigeria experienced a significant rise in headline inflation to 32.70% y/y, surpassing the estimated 32.34% and marking the first…
MPC HIGHLIGHT – SEPTEMBER 2024
At today’s MPC meeting, the committee reaffirmed its hawkish stance by increasing the benchmark interest rate by 50 basis points to 27.25%. Despite the widely anticipated decision to maintain the current stance, in light of the recent lower…
INFLATION WATCH – August 2024
Inflation Watch – Headline Inflation declines further In August 2024, Nigeria’s headline inflation dropped to its lowest level in six months, increasing by 32.15% y/y, which matched the median estimates. This was a decrease from 33.40% y/y in…
