Nigeria’s central bank has cut its benchmark interest rate from 26.5% to 23%, its first reduction this year, as inflation shows signs of easing. Manufacturers welcomed the move but call for lower lending rates and further cuts to make credit more affordable and support business growth.
Thursday, September 24, 2026
Video - Nigerian manufacturers' union welcomes rate cut
Nigeria’s central bank has cut its benchmark interest rate from 26.5% to 23%, its first reduction this year, as inflation shows signs of easing. Manufacturers welcomed the move but call for lower lending rates and further cuts to make credit more affordable and support business growth.
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