The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has retained the country’s benchmark interest rate at 26.5 per cent after concluding its 305th meeting in Abuja.
The decision was announced on Wednesday by the Governor of the Central Bank of Nigeria, Olayemi Cardoso, following the committee’s meeting attended by all 11 members.
According to Cardoso, the committee agreed to maintain the Monetary Policy Rate (MPR) at 26.5 per cent, keeping all major monetary policy parameters unchanged despite ongoing inflationary pressure in the economy.
The latest decision comes after the MPC reduced the rate by 50 basis points in February 2026 and earlier maintained it during its November 2025 meeting.
By holding the benchmark rate steady, the apex bank signalled a cautious approach aimed at managing inflation while maintaining macroeconomic and exchange rate stability.
Meanwhile, Nigeria’s inflation rate recorded a slight increase in April 2026, based on the latest Consumer Price Index report released by the National Bureau of Statistics.
The report showed that headline inflation rose from 15.38 per cent in March 2026 to 15.69 per cent in April 2026, representing a 0.31 percentage point increase within one month.
The MPC said the decision reflects ongoing efforts to strike a balance between controlling inflation and supporting economic growth.
