Employers Urge CBN To Lower Interest Rate Amid Inflation Decline

The Nigeria Employers’ Consultative Association (NECA) has applauded the dependable diminution successful Nigeria’s ostentation rate, which has moderated for 5 consecutive months. This follows the National Bureau of Statistics (NBS) Consumer Price Index (CPI) report, which shows header ostentation easing to 20.12 per cent successful August 2025, down from 21.88 per cent successful July.
Director-General, NECA, Adewale-Smatt Oyerinde, stated that this sustained advancement presents a important accidental for policymakers, peculiarly the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), to re-evaluate its prolonged choky monetary argumentation stance. While the diminution successful ostentation is commendable, helium noted that its afloat benefits volition stay muted unless the MPC strategically begins to trim the Monetary Policy Rate (MPR).

“Lower involvement rates volition not lone stimulate endeavor competitiveness but besides boost entree to credit, investment, and occupation creation, which are captious levers for inclusive growth,” Oyerinde said.

He, however, expressed interest that contempt a marginal decline, nutrient ostentation remains precocious astatine 21.87 per cent, continuing to exert immense unit connected households. “For Nigerians to genuinely consciousness the interaction of macroeconomic improvements, the diminution successful staple prices indispensable construe into existent alleviation for families,” helium said.

Oyerinde highlighted that precocious operating costs—driven by earthy materials, energy, and logistics—remain a menace to sustainability for businesses. For individuals, persistent ostentation continues to erode disposable income and user demand, undermining maturation and hindering meaningful occupation creation. The Director-General advised that the authorities indispensable complement monetary easing with broader interventions. These see further strengthening the speech complaint to curb imported inflation, investing heavy successful agriculture by securing farming communities and expanding mechanisation, and addressing structural bottlenecks successful energy, transport, and regulation.

He emphasised that the existent ostentation inclination presents a compelling lawsuit for the MPC to easiness its choky stance. “It is clip to equilibrium terms stableness with deliberate maturation stimulation truthful enterprises tin thrive, jobs tin beryllium created, and Nigerians tin acquisition tangible alleviation from the cost-of-living crisis.”