Nigeria’s inflation will reduce in next two quarters – CBN Governor


 

The Governor of the Central Bank of Nigeria, Dr. Olayemi Cardoso, said monetary policy measures put in place by the apex bank would substantively tackle Inflation in the next two quarters.

 

Cardoso disclosed this on Friday during his remark at the 58th Bankers Dinner of the Chartered Institute of Bankers of Nigeria in Lagos.

 

According to him, the measures put in place by the CBN have started yielding results as month-on-month inflation growth is declining.

 

“While absolute Inflation is still rising, the declining rate of growth indicates progress. The CBN is confident that we can manage Inflation effectively with continued tightening measures for the next two quarters.

 

“Month-on-month Inflation has also begun to decline, with a growth rate of 0.67 per cent in October compared to 0.97 percent previously”, he said.

 

Nigeria’s Inflation had continued to soar, reaching an all-time high of 27.33 per cent in October 2023.

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