Nigeria's central bank left its benchmark interest rate unchanged on Thursday after six hikes last year, saying that it was reassured by stability in the foreign exchange market and saw inflation gradually falling.

Nigeria’s headline inflation rate dropped to 24.48% year-on-year in January 2025, following the rebasing of the Consumer Price Index (CPI),

The Central Bank of Nigeria Monetary Policy Committee has retained the country’s interest rate at 27.50 percent in January, the same rate as in November last year amid inflation drops. It also retained the Cash Reserve Ratio,

Nigeria's annual inflation rate stood at 24.48% in January, the statistics agency said on Tuesday, well down from the previous month's figure after the country's price index was rebased for the first time in more than a decade.

NBS also said that the food inflation rate fell to 26.08 per cent in January 2025 from 39.84 per cent in December 2024.

Nigeria’s inflation rate dropped to 24.48% in January after rebasing exercise, the country’s statistical authorities have revealed. The news figures showed food inflation rate now 26.08 percent while GDP figures are yet to be out.

The NBS said the food index for January 2025 was 110.03, resulting in a food inflation rate of 26.08 per cent year-on-year.

The National Bureau of Statistics (NBS) has reported that Nigeria’s inflation rate decreased from 34.8 per cent in December 2024 to 24.48 per cent in January

The Central Bank of Nigeria, Monetary Policy Committee (MPC) has decided to retain the Policy Rate (MPR) which means that banks' lending rate will not change.