Nigeria Economic Update (Issue 11)

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), in its 147th meeting, has raised the Monetary Policy Rate (MPR) to 18 percent.1 This represents an increase of 50 basis points from the previous MPR of 17.5 percent. The apex bank attributes this sixth consecutive increase in the MPR since April 2022 […]


Are Conventional Monetary Policies Regulating the Nigerian Economy?

The commitment of the Central Bank of Nigeria (CBN) to stimulate the economy following the      distortions caused by the coronavirus pandemic prompted the decision to reduce the Monetary Policy Rate (MPR) from 12.5% to 11.5% . However, the cash reserve ratio was retained at 27.5% and the liquidity ratio at 30%.  The major goal of […]

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Nigeria Economic Update (Issue 13)

The CBN Monetary Policy Committee (MPC) switched its policy stance to ‘easing’ at the last MPC held on March 25-26, 2019. While holding other policy parameters at previous levels, the Monetary Policy Rate (MPR) was cut by 50bps to 13.5%1 following a retaining policy stance of 14% that lasted for more than two years (since […]