CBN Holds MPR at 26.50%
The 305th MPC meeting (May 19–20) held the MPR at 26.50% unanimously. CRR for DMBs retained at 45%. Governor Cardoso cited transitory external shocks — Middle East tensions and Brent above $104/bbl — as the key inflation drivers. Sources: Channels TV, Nairametrics, PM News.
Industrials Lead ₦1.62T Selloff
Industrial Goods index shed -3.84%, the sharpest sectoral decline. BUA Cement -10% (₦414), CAP -9.99% (₦210.35). Analysts cited overbought conditions after a 9-session bull run. Sources: Zawya, GlobalView Capital, NGX Group.
Inflation at 15.69% — NBS April
Nigeria's headline inflation rose to 15.69% in April 2026 from 15.38% in March per NBS. Food inflation 16.06% — first time it exceeded headline since August 2025. Core inflation: 15.86%. Sources: NBS, Nairametrics, Premium Times.