CBN Predicts Lower Inflation, Assures Nigerians of Economic Stability

CBN Predicts Lower Inflation, Assures Nigerians of Economic Stability

The Central Bank of Nigeria (CBN) has expressed confidence in the resilience of the nation’s economy, despite persistent global uncertainties and geopolitical tensions, particularly in the Middle East, which continue to expose countries to external economic shocks.

Director of Monetary Policy at the CBN, Dr Victor Oboh, gave the assurance while addressing issues arising from the Monetary Policy Committee (MPC) meeting, stating that the apex bank remains cautiously optimistic about the country’s economic outlook.

Dr Oboh projected that inflationary pressures would decline significantly before the end of 2026, bringing Nigeria closer to achieving single-digit inflation, a level widely regarded as conducive to investment, business growth and economic expansion.

He explained that the Central Bank has continued to deploy monetary policy tools effectively to address structural economic challenges while maintaining stability in the financial system.

According to him, the apex bank remains committed to sustaining macroeconomic stability through close collaboration with fiscal authorities and development finance institutions.

The monetary policy expert noted that although global developments continue to pose risks to emerging economies, Nigeria’s economy has demonstrated resilience and remains on a stable footing.

Dr Oboh assured Nigerians that the Central Bank would continue to implement policies aimed at curbing inflation, supporting economic growth and safeguarding the country’s financial stability amid prevailing external pressures.