The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has reiterated that the focus of the apex bank is to bring down the country’s inflation to single digits in the medium term.
Cardoso disclosed this at the conclusion of the 2025 International Monetary Fund and World Bank Spring Meetings in Washington, D.C, this weekend!
This comes as Cardoso admitted that inflation is the most disruptive force against Nigerian’s welfare, emphasising the urgency of tackling inflation to stabilise household incomes and improve the cost of living across the country.
“Inflation remains the most disruptive force against the economic welfare of Nigerians. Our focus is to bring it down to single digits over the medium term,” Cardoso said.
Nigeria’s delegation, led by Minister of Finance, Wale Edun, Cardoso, and others, went to this year’s Monetary Fund and World Bank Spring Meetings, which were held from Monday, April 21st, 2025, to Sunday, April 26th.
Media Talk Africa reports that Nigeria’s inflation declined to 24.28 percent in March 2025 from 23.18 percent.
In December 2024, during the 2025 budget presentation in the national assembly, President Bola Ahmed Tinubu hinted at reducing the country’s inflation to 15 percent.
However, a economic expert, Bismark Rewane, said Tinubu’s 15 percent inflation projection for 2025 is unrealistic.
