Search
Sign in
North Africa
Central Africa
East Africa
West Africa
Southern Africa
Commodities

Nigeria cuts rates sharply. Has stability finally arrived?

Busy street of Nigeria. Photo Muhammad Ibrahim @ Unsplash
Busy street of Nigeria. Photo Muhammad Ibrahim @ Unsplash

Vincent Nwanma

Vincent Nwanma is a seasoned analyst, columnist, and reporter with over 30 years of experience in business and economics journalism across Nigeria and Africa.
  • CBN cuts benchmark rate 350 basis points to 23%
  • Stronger reserves and easing inflation create policy room

 

ABUJA, NIGERIA — Nigeria’s central bank cut its benchmark interest rate by 350 basis points to 23% on Tuesday as easing inflation and stronger external buffers opened room for recalibration.

This article is free to read.

Sign up for free or sign in to continue
reading. Unlike our competitors, we don't force you to pay
to read the news but we do need your email address to
make your experience better.

Create your free account or sign in


By signing in, you agree to receive Allen Dreyfus newsletters and updates. You can unsubscribe at any time.

Recent Business

Cocoa pod and beans outdoors. Photo by Ákos Helgert @ Pexels
How Nigeria's cocoa strategy could end decades of oil dependence
29/07/2026
1 month ago
Vincent Nwanma
Read More »
A vibrant display of traditional dance in Botswana. Photo by Xitsundzuxo Himina @ Pexels
Why Botswana’s inflation surge signals wider risks for commodity economies
16/06/2026
3 months ago
Eric Kasongo
Read More »
Molten metal pouring from ladle in industrial foundry. Photo by Bence Szemerey @Pexels
Can Kipushi’s zinc boom in Congo redraw Africa’s commodity power balance?
08/06/2026
3 months ago
Eric Kasongo
Read More »

Recent Politics

Miners on the field. Photo by Malama Mushitu @ Pexels
Beyond the 37: The big money behind Nigeria’s illegal mining
21/09/2026
1 day ago
Vincent Nwanma
Read More »
Gridlock at Ijora, Lagos, Nigeria. Photo by Dami Akinbode @ Unsplash
Nigeria’s inflation barely moves. Is disinflation finally real?
16/09/2026
1 week ago
Vincent Nwanma
Read More »
Barrels of oil. Photo by Atik sulianami @ Unsplash
Uganda pushes first oil to 2027. Will investors wait?
15/09/2026
1 week ago
Kent Mensah
Read More »

Latest Posts

Latest news insights

Busy street of Nigeria. Photo Muhammad Ibrahim @ Unsplash
Read More »
Nigeria cuts rates sharply. Has stability finally arrived?
A bustling shipping port with colorful stacked containers. Photo by Andrea Musto @ Pexels
Read More »
Can Nigeria sustain its trade boom? Oil still dominates
Online shopping has surged in Africa due to the rise of fintechs. Photo by Negative Space @ Pexels
Read More »
Egypt's fintech Paymob raises $35mn. Can Gulf momentum hold?
The Kwame Nkrumah Mausoleum in Accra, Ghana. Photo by Ana Kenk @ Pexels.
Read More »
Ghana rejects costly bids — but who fills gap?
A bustling shipping port with colorful stacked containers. Photo by Andrea Musto @ Pexels
Read More »
Can Nigeria sustain its trade boom? Oil still dominates
Online shopping has surged in Africa due to the rise of fintechs. Photo by Negative Space @ Pexels
Read More »
Egypt's fintech Paymob raises $35mn. Can Gulf momentum hold?
The Kwame Nkrumah Mausoleum in Accra, Ghana. Photo by Ana Kenk @ Pexels.
Read More »
Ghana rejects costly bids — but who fills gap?
Miners on the field. Photo by Malama Mushitu @ Pexels
Read More »
Beyond the 37: The big money behind Nigeria’s illegal mining
Online shopping has surged in Africa due to the rise of fintechs. Photo by Negative Space @ Pexels
Read More »
Egypt's fintech Paymob raises $35mn. Can Gulf momentum hold?
The Kwame Nkrumah Mausoleum in Accra, Ghana. Photo by Ana Kenk @ Pexels.
Read More »
Ghana rejects costly bids — but who fills gap?
Miners on the field. Photo by Malama Mushitu @ Pexels
Read More »
Beyond the 37: The big money behind Nigeria’s illegal mining
Gold mine. Photo by István Mihály @ Pixabay
Read More »
Is Ghana’s Enchi undervalued? Newcore finds more high-grade gold