Nigeria Central Bank Cuts Interest Rate for First Time Since 2020

[Tunde]

The Central Bank of Nigeria just reduced its benchmark rate to 27%. This move comes after years of tight policy, and honestly, it feels like a small breather for businesses and families struggling with high loan costs. I remember how tough it was getting credit back in 2021—maybe this could ease things a bit.

• Inflation has started cooling
• Growth needs more support
• Cheaper credit may boost small businesses

Do you think this cut will really help everyday Nigerians, or just the big corporations? Join the discussion and share your experience below!

[MarketMavin]

Rates were crazy high, no one could borrow without stress. i tried back in 2021 for a small shop loan, but I almost gave up because the interest was just too mad. maybe now things will ease up a little.

[Bola]

hmm not sure. banks hardly ever pass the cut down quickly. They'll find a way to keep charging us the same as they always do. Let's wait and see what happens next.