The Central Bank of Nigeria Governor, Dr. Olayemi Cardoso, has expressed optimism that the monetary policy measures enacted by the apex bank will significantly address inflation in the coming two quarters.
Dr. Cardoso made this projection during the 58th Bankers Dinner of the Chartered Institute of Bankers of Nigeria held in Lagos on Friday.
He noted that the measures implemented by the CBN have commenced yielding positive outcomes, evidenced by the decreasing month-on-month inflation growth.
“Despite the ongoing increase in absolute inflation, the declining growth rate indicates a forward trajectory. The CBN holds the belief that we can effectively manage inflation by sustaining the tightening measures over the next two quarters.
“Month-on-month inflation has also commenced a downward trend, registering a growth rate of 0.67 per cent in October, as opposed to the previous 0.97 percent,” he emphasized.
It is noteworthy that Nigeria’s inflation has persistently surged, reaching a record peak of 27.33 per cent in October 2023.
