65% of Nigerians Favor Lower Lending Rates in Survey

A survey conducted ahead of the Central Bank of Nigeria's (CBN) Monetary Policy Committee (MPC) meeting on February 23-24, 2026, reveals that 65% of Nigerians support a reduction in lending rates. This contrasts with only 12.2% who prefer an increase and 15.1% who want rates unchanged.

The CBN maintained the Monetary Policy Rate (MPR) at 27.0% during its November 2025 meeting, following a 50 basis point reduction in September. The survey suggests a preference for looser monetary conditions despite inflation concerns, with 50.1% of respondents opting for lower rates to stimulate borrowing, while 41.8% support tightening to control inflation.

Economic sentiment remains mixed, with 66.6% perceiving a weakening economy, although household financial conditions show some improvement. The consumer sentiment index decreased by 2.8 points from December 2025, reflecting ongoing pressures on household finances.

Spending priorities indicate a focus on essential items, with food expenditures projected to remain high over the next six months.