CPPE Backs CBN’s Rate Pause as Nigeria Navigates Inflation Pressures, FX Stability, and Global Oil Shock - Tekedia

CPPE backed the CBN’s decision to keep Nigeria’s benchmark rate at 26.5%, calling the pause supportive of economic stability.

The group said more rate hikes could further squeeze businesses while inflation is being driven mainly by structural bottlenecks, FX weakness, and higher oil prices.

The endorsement adds to the debate over whether tighter monetary policy can effectively tackle inflation rooted more in supply and currency pressures than in demand.

The decision has implications for borrowing costs, private-sector investment, and Nigeria’s broader growth outlook.