The Central Bank of Nigeria (CBN) has announced that it will hold its historic 300th Monetary Policy Committee (MPC) meeting on Monday, May 19, and Tuesday, May 20, 2025, at its headquarters in Abuja.
This was disclosed in a notice published on the apex bank’s official website on Tuesday. According to the schedule, the two-day session will begin at 10:00 a.m. on May 19 and continue at 8:00 a.m. on May 20 in the MPC Meeting Room on the 11th floor of Wing C at the CBN headquarters.
The meeting is expected to be closely watched by investors, financial institutions, and economic stakeholders as the MPC deliberates on key issues affecting Nigeria’s macroeconomic landscape, including inflation, interest rates, and exchange rate policies.
This milestone meeting comes amid persistent inflationary pressures, exchange rate volatility, and ongoing structural reforms under the leadership of CBN Governor, Olayemi Cardoso. Market analysts anticipate that the committee may either maintain its current tight monetary stance or further raise the Monetary Policy Rate (MPR) to rein in inflation and stabilize the naira.
At the World Bank’s Nigeria Development Update event on Monday, Cardoso reaffirmed the CBN’s commitment to an orthodox monetary policy framework. “If we continue with our course of orthodox monetary policy, which has already shown results, then inflation will moderate over time. Alongside that, interest rates will also begin to ease,” he said.
The MPC, established under the CBN Act of 2007, is Nigeria’s top monetary decision-making body. It comprises 12 members, including the CBN Governor as Chairman. The committee is responsible for setting the policy rate and other monetary parameters aimed at achieving price stability and sustainable economic growth.
The last MPC meeting, held in February 2025, saw the committee maintain the benchmark interest rate at 27.5%, a stance first adopted in November 2024 to combat soaring inflation.
As the nation awaits the National Bureau of Statistics’ inflation data for April, analysts forecast a modest decline in consumer prices following a sharp rise in March, largely attributed to escalating food and fuel costs.
The outcomes of the 300th MPC meeting will be critical in shaping Nigeria’s monetary direction in the months ahead.
