The Central Bank of Nigeria (CBN) has announced that the 300th meeting of the Monetary Policy Committee (MPC) will take place on Monday, May 19, and Tuesday, May 20, 2025, at its headquarters in Abuja.
This was disclosed in a public notice published on the CBN’s official website on Tuesday.
According to the announcement, the meeting will span two days:
- Day 1: Monday, May 19, 2025 – 10:00 a.m.
- Day 2: Tuesday, May 20, 2025 – 8:00 a.m.
- Venue: MPC Meeting Room, 11th Floor, Wing C, CBN Headquarters, Abuja.
The upcoming meeting marks a major milestone as the 300th session of Nigeria’s apex monetary policy decision-making body, tasked with formulating strategies to maintain price stability, ensure financial system soundness, and support economic growth.
Why the MPC Meeting Matters
The MPC’s decisions are closely watched by investors, financial institutions, and policymakers, as they directly influence:
- The Monetary Policy Rate (MPR)
- Liquidity ratios and banking sector lending
- Inflation and exchange rate strategies
- Broader macroeconomic direction
The committee typically evaluates domestic and global economic conditions before deciding whether to tighten, loosen, or maintain the current monetary policy stance.
Expectations ahead of the MPC meeting
The May 2025 meeting comes at a time of heightened scrutiny of the apex bank’s policies under the leadership of CBN Governor Olayemi Cardoso, whose tenure has been marked by structural reforms aimed at restoring investor confidence and deepening transparency in the monetary system.
With inflationary pressures remaining persistent and the naira still experiencing volatility in the foreign exchange markets, financial analysts expect the MPC to either maintain a tight monetary stance or raise rates further to curb inflation and stabilize the currency.
Speaking at the launch of the World Bank’s Nigeria Development Update in Abuja on Monday, Cardoso affirmed the bank’s commitment to orthodox monetary policy, which he said is already yielding results.
“If we continue with our course of orthodox monetary policy, which has already shown results, then inflation will moderate over time. Alongside that, interest rates will also begin to ease,” Cardoso stated.
Meanwhile, the National Bureau of Statistics (NBS) is set to release its inflation report in the coming days. Analysts forecast that the stubbornly high consumer prices may ease slightly in April, after a spike in the previous month driven by rising fuel and food costs.
What You Should Know
- The MPC consists of 12 members, including the CBN Governor as Chairman.
- The Committee is empowered under the CBN Act of 2007 to determine monetary policy parameters and ensure price stability.
- Key indicators watched at the MPC include inflation rate (currently above target), GDP growth, exchange rate performance, and fiscal-monetary policy alignment.
- At its 299th meeting in February, the Cardoso-led Monetary Policy Committee held rates steady at 27.5%, the position it stood when it last met in November 2024.
