Nigeria targets single-digit inflation
Nigeria's Finance Minister Taiwo Oyedele the government aims to reduce inflation to single digits by the end of 2027.
Annual inflation remains around 15%, while the central bank's benchmark interest rate stands at 23%. The minister said lower inflation and borrowing costs could encourage investment.
The target may influence expectations for financing conditions in Africa's most populous economy. However, the statement does not represent a new interest-rate decision or an achieved decline in inflation. Progress will depend on price stability and the effectiveness of ongoing economic reforms.
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