Nigeria’s Consumer Credit Declines by 20% To N3.8trn   Nigeria’s consumer credit declined for the first time in six years, falling by 19.89 per cent to N3.78tn in 2025 from N4.72tn a year earlier, as elevated interest rates dampened household borrowing, according to the Central Bank...

When members of the Central Bank of Nigeria's (CBN) Monetary Policy Committee (MPC) concluded their 306th meeting on July 21, many analysts expected a cautious decision.

The Central Bank of Nigeria (CBN) has urged relevant authorities to accelerate reforms in the oil and solid minerals sectors, saying sustained investment and policy implementation are critical to strengthening macroeconomic stability amid rising global uncertainties.

The Central Bank of Nigeria (CBN) on Tuesday retained the Monetary Policy Rate (MPR), its benchmark interest rate, at 26.5 per cent for the second consecutive Monetary Policy Committee (MPC) meeting, following a rate cut in February.

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has again retained the benchmark interest rate at 26.5 per cent.

Outstanding consumer credit in Nigeria fell sharply by ₦780bn in February 2026, dropping to ₦3.03tn from ₦3.81tn in January, according to the Central Bank of Nigeria’s (CBN) Economic Report.