Quidah is an online platform that connects investors with curated opportunities and expert insights on Africa’s emerging markets, while offering businesses promotional services, partnership facilitation, and market intelligence to attract capital and grow their operations.
Industries
Nigeria’s central bank left its key lending rate unchanged on Wednesday, with Governor Olayemi Cardoso saying a cautious and vigilant stance was needed to anchor inflation expectations and protect economic stability. The Monetary Policy Rate remains at 26.50%.
The decision came after the central bank cut rates by 50 basis points at its previous meeting in February. Most economists surveyed by Reuters had expected the bank to hold steady.
Headline inflation rose for a second straight month in April to 15.69% year-on-year. The increase was driven in part by higher domestic fuel prices linked to the U.S.-Israeli war against Iran, which also pushed up food costs.
Cardoso said the Monetary Policy Committee viewed the latest rise in inflation as having a transitory nature. He added that the bank remained confident the current macroeconomic environment could support a return to disinflation.
Market participants said the pause could help preserve investor confidence in naira assets, especially as foreign portfolio inflows into government securities improve. The central bank also pointed to recent reforms that have so far limited the broader domestic impact of the Iran war.
