2024-04-30 | MPD/MPC/INT/MPP/004/158

Personal Statements By the Monetary Policy Committee Members MPC Meeting March 25 � 26, 2024

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria met in March 2024 to discuss the country's economic situation and decide on monetary policy actions. The committee members expressed concerns about rising inflation, exchange rate fluctuations, and the impact of global economic developments on Nigeria's economy. They noted that the Nigerian economy remains resilient, with positive GDP growth, but inflationary pressures and structural issues persist. The committee voted to raise the Monetary Policy Rate (MPR) and adjust other policy parameters to address these challenges. The focus is on achieving price stability and sustainable economic growth, with an emphasis on collaboration between monetary and fiscal authorities.

Nigeria

Central Bank of Nigeria

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