The Lagos Chamber of Commerce and Industry (LCCI) has stated that the decision of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to reduce the Monetary Policy Rate (MPR) to 26.50 per cent marks a shift from aggressive monetary tightening to a stabilisation phase.
Director-general of LCCI, Chinyere Almona, said in a statement that the move is a cautious but positive step anchored on disinflation, exchange rate convergence, and improved supply-side conditions.
She noted that inflation has moderated for 11 consecutive months to 15.1 per cent in January 2026, reflecting the impact of recent macroeconomic reforms and improved policy discipline.
The LCCI DG said the rate cut sends a critical confidence signal to the organised private sector (OPS) and creates a pathway for a gradual reduction in the cost of capital.
“However, businesses still require tangible relief in financing costs to restore production, expand capacity, and preserve jobs,” Almona added.
