The Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso, has hinted that lending rates may decline in the coming months as inflation continues to ease, raising hopes for improved access to credit and stronger investment flows.
Cardoso gave the indication at the European Business Chamber (Eurocham Nigeria) C-Level Forum in Lagos on Saturday, according to a statement by the CBN on Sunday.
He reaffirmed the Bank’s commitment to macroeconomic stability, a stronger banking sector, and positioning Nigeria as a top investment destination.
According to the CBN governor, headline inflation, though still high, has begun to slow down, creating the possibility of lower lending rates once price stability is further consolidated.
He stated that there is a substantial potential for interest rates to decrease in the future as inflation continues to decline and as markets become more efficient in allocating capital,” the statement read.