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Nigeria, central bank
Nigeria's central bank surprises with fifth rate hike this year
Nigeria's central bank unexpectedly raised its benchmark lending rate by 50 basis points to 27.25% on Tuesday in a unanimous decision to tame persistent inflationary pressures, bank governor Olayemi Cardoso said.
Nigeria’s central bank raises interest rate to 27.25% amid inflation concerns
Nigeria’s central bank surprised the market on Tuesday by raising its benchmark lending rate by 50 basis points to 27.25%. This is the fifth rate hike of the year and reflects the bank’s ongoing battle against inflationary pressures,
BREAKING: In fifth consecutive hike, CBN raises Nigeria’s interest rate to 27.25%
The Central Bank of Nigeria, CBN, Monetary Policy Committee, MPC, has raised the interest rate by 50 basis points to 27.25 percent, the fifth hike since February 2024. CBN Governor Olayemi Cardoso disclosed this during a press briefing at the end of 297th MPC in Abuja on Tuesday.
Nigeria's central bank surprises with a rate hike to 27.25%
Nigeria's central bank surprised the market by raising its benchmark lending rate to 27.25% from 26.75% on Tuesday, with governor Olayemi Cardoso adding that the decision of the monetary policy committee (MPC) was unanimous.
21h
Nigeria Set to Pause Two-Year Tightening Cycle as Inflation Cools
Nigeria’s monetary policymakers are expected to cautiously loosen their grip on a more than two-year tightening cycle on ...
Nairametrics
6h
Airtel Nigeria moves to cut N28 billion monthly spending on diesel
Telecommunications operator, Airtel Nigeria, said it is now deploying alternative solutions to power its base stations across ...
Vanguard
4h
UNGA 79:Nigeria solicits Finland’s support for UN permanent seat
THE Nigerian government has solicited the support of Finland in its pursuit of a permanent seat at the United Nations (UN) ...
1d
Dangote Says Time for Nigeria to End Fuel Subsidy, Boost Naira
Nigerian billionaire Aliko Dangote said the “time is right” for the West African nation to end a decades-long subsidy on fuel ...
6d
Nigeria flags flood risk in 11 states as Cameroon releases dam water
Nigeria's hydrological services agency has warned of potential flooding in 11 states after neighbouring Cameroon said it was ...
Vanguard
6h
Nigeria hosts 1.2m int’l visitors in 2023 – Tourism Minister
John, Minister of Tourism, on Tuesday, said that Nigeria played host to no fewer than 1.2 million international visitors in 2023.
Upstream
1d
Nigeria's gas kingpin eyes pipeline to Libya
Nigeria’s government has held talks with Libya about linking the two African hydrocarbon powerhouses by gas pipeline. Under ...
4d
on MSN
Coca-Cola plans to invest $1 billion in Nigeria operations, presidency says
Coca-Cola plans to invest $1 billion in its Nigeria operations over the next five years, the country's presidency said after ...
5d
Nigeria warns of possible flooding as Cameroon releases water from dam
Nigeria has warned of possible flooding in 11 states following the release of water from a dam in neighboring Cameroon.
6d
Meet Africa's richest man, a billionaire who doesn't own a home outside Nigeria
Aliko Dangote earned his billionaire status as the founder of the Dangote Group, Africa's largest cement producer.
The Punch Newspapers
1h
Nigeria’s unemployment rate rose to 5.3% in Q1 – Report
Nigeria’s unemployment rate increased marginally to 5.3 per cent in Q1 2024 from 5.0 per cent in Q3 2023, with females ...
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Africa
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