Nigerian Stock Market Dips Despite CBN's Interest Rate Cut

The Nigerian stock market reacted negatively despite the Central Bank of Nigeria (CBN) announcing a new interest rate cut to 27%. On Wednesday, September 24, 2025, the market closed in the red following the CBN's decision to reduce the benchmark interest rate.

The NGX data revealed a decline across the board, particularly in the banking and oil & gas sectors. The MPC meeting aimed to stimulate economic growth amidst slowing inflation, leading to a 50bps reduction in the Monetary Policy Rate (MPR) to 27%.

The CBN also made adjustments to the asymmetric corridor and Cash Reserve Ratio (CRR) for commercial banks. Despite the rate cut, the impact on stock prices was not immediately evident in the market.