20th March 2023


Nigeria lending rate rises

Nigeria's central bank raised its lending rate by 50 basis points to 18% (NGCBIR=ECI) on Tuesday as authorities continued to tighten policy to control inflation and this has limited consumer purchasing power.

The cost of living was among major concerns for voters during last month's disputed presidential election won by ruling party's Bola Tinubu, who promises to revive the economy and put a stop to insecurity.