Nigeria’s Monetary Policy Committee (MPC) faces a finely balanced decision at its upcoming meeting on 23rd and 24th February, with analysts divided between a potential policy rate cut and a hold decision amid improving macroeconomic indicators.
While the headline inflation rate has declined for the eleventh consecutive month to 15.1% in January 2026, easing price pressures alone may not be sufficient to trigger an immediate policy shift.
However, strengthening external buffers, exchange rate appreciation, and stable energy prices are increasingly reinforcing arguments for cautious normalization.
