Nigeria's Economy Sees Renewed Stability as Inflation Falls and FX Market Rebounds

CBN Governor Olayemi Cardoso announced at the 60th annual Banker Dinner in Lagos that Nigeria is experiencing a period of renewed stability with improvements in inflation and foreign exchange markets. The inflation rate has significantly dropped to 16.05% in October 2025 from 34.6% in November 2024.

The FX market has been stabilized through reforms, reducing the gap between official and parallel market rates. Cardoso highlighted progress in the economy and commitment to monetary policies for further improvement.