Because the Financial Coverage Committee (MPC) of the Central Bank of Nigeria (CBN) prepares to fulfill subsequent week, new survey knowledge present {that a} majority of Nigerians favour decrease lending charges, whilst considerations about inflation stay widespread.
This was in response to the newest CBN’s January 2026 Family Expectations Survey.
The findings come forward of the CBN’s 304th Financial Coverage Committee assembly scheduled for February 23 and 24, 2026, after the committee retained the Financial Coverage Fee at 27.00% at its final assembly in November 2025, following a 50 foundation factors reduce in September.
What does the report say
Findings from the CBN’s January 2026 Family Expectations Survey present that 65.0% of respondents imagine lending rates of interest ought to fall, whereas 12.2% choose a rise and 15.1% need charges to stay unchanged. About 7.7% expressed no opinion
- The report learn, “Majority of respondents choose decrease rates of interest, with 65.0% indicating a want for charges to say no.”
The survey reveals a robust tilt in direction of easing financial circumstances, even the place this may increasingly complicate inflation administration.
When requested to decide on between elevating rates of interest to maintain inflation down or retaining charges low even when inflation rises, 50.1% mentioned they would like a discount in rates of interest. In distinction, 41.8% opted for elevating charges to comprise inflation, whereas 8.2% had no view.
Nevertheless, inflation fears stay important.
A majority of respondents, 66.6%, mentioned the Nigerian economic system could be weak if costs started to rise sooner than they at the moment are.
Solely 9.6% imagine the economic system would find yourself stronger below such circumstances, whereas 20.0% mentioned it might make no distinction.
The info recommend that whereas households are delicate to rising costs, many are more and more prioritising cheaper credit score and financial aid over aggressive inflation management.
Shopper sentiment is constructive, however main purchases are subdued
Total shopper sentiment remained in constructive territory for the third consecutive month in January.
The Total Shopper Sentiment Index stood at 2.8 factors, down from 4.8 factors recorded in December 2025. The Financial Situation Index was 7.4 factors, reflecting sustained optimism in regards to the broader economic system, whereas Household Revenue Sentiment rose to 9.1 factors.
In distinction, the Household Monetary Scenario Index remained adverse at -8.2 factors, indicating continued pressure on the family degree.
On value developments, perceptions improved in January. The Shopper Sentiment Index on value modifications turned constructive at 4.2 factors, in contrast with -1.4 factors in December, suggesting respondents see costs as moderating within the close to time period.
Spending intentions present that households stay targeted on important gadgets. Meals and different home items recorded the best present month expenditure outlook at 62.7 index factors, adopted by schooling at 35.9 factors and transportation at 23.4 factors.
Over the following six months, meals spending is projected to stay elevated at 63.6 factors.
In contrast, urge for food for high-value belongings stays weak.
The Shopping for Intention Index for big-ticket gadgets was 22.8 factors within the present month, rising to 25.0 factors over the following three months and 28.5 factors over the following six months, all nicely under the 50-point threshold that signifies steadiness between consumers and non-buyers.
What it is best to know
BusinessTimes earlier reported that 5 members of the Central Bank of Nigeria’s Financial Coverage Committee voted for a 50-basis-point discount within the Financial Coverage Fee on the November 2025 assembly, citing sustained disinflation, bettering exterior buffers, and resilient financial development.
- That is in response to their private statements printed by the apex bank.
- The 5 dissenting members, representing 41.7% of the 12-member committee, proposed decreasing the MPR from 27.0% to 26.5%, alongside an adjustment of the uneven hall to +50/-450 foundation factors, whereas retaining all different prudential parameters.
Nevertheless, the MPC finally voted by majority to retain the coverage fee at 27.0%, reflecting continued warning over inflation dangers regardless of current macroeconomic enhancements.
