CBN cuts MPR to 26.5% on inflation, fuel prices, reserves
Central Bank of Nigeria cuts benchmark rate by 0.5% to 26.5% on February 24, 2026. Decision driven by three factors: sustained inflation decline (down to 15.1% YoY), stable petrol prices (N1,048.63 average), and record $48B external reserves. Inflation fell 12% YoY due to food price drops and FX stability. Fuel costs stabilized after Dangote Refinery impact. Reserves hit $48B from exports and diaspora remittances. Rate cut aims to boost growth while controlling inflation.
SOURCE: https://nairametrics.com/2026/02/25/explainer-three-reasons-why-the-cbn-cut-mpr-rates-to-26-5/