The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 27.5%, keeping all policy parameters unchanged.
CBN Governor, Olayemi Cardoso, disclosed this during the Monetary Policy Committee (MPC) briefing in Abuja on Tuesday. He noted that the Committee held its 301st meeting on July 21st and 22nd, 2025, to assess recent economic and financial developments, as well as the outlook.
According to Cardoso, the decision to maintain the current rate was based on the need to sustain the ongoing disinflation trend and ensure continued downward pressure on prices.
He further revealed that Nigeria’s foreign reserves stood at $40.1 billion as of July 18, which is sufficient to cover imports for approximately nine and a half months.
Cardoso emphasized that both monetary and fiscal authorities remain committed to working together to bring inflation down to single digits, underscoring the importance of maintaining momentum in controlling inflation and managing price stability.
