The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has commended the decision of the Central Bank of Nigeria (CBN) to reduce the Monetary Policy Rate (MPR) by 50 basis points to 26.5 per cent.
Mr. Edun gave the commendation in a statement he personally signed on Tuesday in Abuja.
Rising from its 304th meeting, the Monetary Policy Committee (MPC) of the apex bank, also announced decision to retain Cash Reserve Ratio (CRR) at 45% for Commercial Banks and retain at 16% for Merchant Banks, retain Liquidity Ratio (LR) at 30%, retain Standing Facilities Corridor at +50 / -450 basis points around the MPR.
According to the Minister, the move reflects rising confidence in Nigeria’s macroeconomic stabilisation and highlights strong coordination between fiscal and monetary authorities as the country transitions from stabilisation to economic consolidation.
“For government, the rate cut lowers borrowing costs and creates fiscal space to accelerate investment in infrastructure, energy, agriculture and social services.
“For businesses, it improves access to credit, supports private sector investment, and strengthens job creation in the real economy.
“Importantly, the decision reinforces investor confidence and signals that President Bola Tinubu’s reform programme is delivering results,” he said.
The Minister said the administration remains committed to disciplined fiscal management, structural reforms and close collaboration with the Central Bank to drive growth, stability and improved livelihoods for all Nigerians.
