The Central Bank of Nigeria says 63.3 per cent of Nigerians want interest rates reduced ahead of the Monetary Policy Committee meeting scheduled for May 19 and 20, 2026.
The apex bank disclosed this in its April 2026 Inflation Expectations Survey Report, released by its Statistics Department under the Economic Policy Directorate on its website and obtained by The PUNCH on Sunday.
The report found that most respondents preferred lower borrowing costs despite persistent inflationary pressures across the economy. It stated, “The survey revealed high public engagement with CBN communications (92.1 per cent), a general perception of transparency (93.3 per cent), and a strong desire for a reduction in interest rates (63.3 per cent).”
According to the report, 26.0 per cent of respondents wanted interest rates retained at current levels, while 10.7 per cent supported a further rate hike. The development comes as the MPC prepares to take another decision on the Monetary Policy Rate amid concerns over inflation, exchange rate pressures, insecurity, and rising energy costs.
The survey showed that inflation perception worsened in April 2026, with 67.2 per cent of respondents describing inflation as high, up from 56.4 per cent recorded in March 2026.
