CBN announces Monetary Policy Committee Meeting in local languages

The CBN had previously rescheduled the MPC meeting, initially set for February 17–18, to February 18–19.

The MPC meeting remains a key event shaping Nigeria’s economic outlook, influencing decisions on interest rates, inflation control, and overall macroeconomic stability.

Making the announcement on its X handle, the apex bank shared the development in different languages in a bid to drive wider reach.

The messages

Last weekend, a report from the Central Bank of Nigeria indicated that Nigeria’s economic activities expanded for the second consecutive month.

The composite Purchasing Managers’ Index (PMI) for January 2025, at 50.2 index points, signaled an expansion in economic activities for the second straight month.

A report by the apex bank also noted that about 75% of businesses have identified high interest rates as their primary operational constraint in January 2025.

The January 2025 Business Expectations Survey (BES) was conducted from January 13 to 17, 2025 with a sample size of 1,900 business enterprises across Nigeria. The survey achieved a response rate of 99.7%, covering three key sectors: Industry, Services, and Agriculture.

The economy’s overall capacity utilization was at 56.8% according to the apex bank for the month of January 2025.

Despite these challenges, the report noted that the Mining and Quarrying sector recorded the highest capacity utilization for January 2025, reaching 60.3%.