LCCI Urges Continued MPR Reduction to Boost Private Sector

The Lagos Chamber of Commerce and Industry (LCCI) has advocated for the continuous lowering of the Monetary Policy Rate (MPR) to stimulate the private sector. Gabriel Idahosa, the immediate past president of LCCI, highlighted the need for a sustained reduction in MPR to address the current challenges of increased borrowing costs and reduced investment incentives.

The call comes as the MPR was recently lowered by 50 basis points to 27% in September 2025. The chamber emphasized the importance of lower interest rates to improve credit availability, reduce borrowing costs, and stimulate economic growth.