The Central Bank of Nigeria’s (CBN) decision to reduce the Monetary Policy Rate (MPR) by 50 basis points to 27% has sparked a flurry of reactions from economists, policy analysts, and small business operators.
While some experts hailed the move as a cautious but necessary step toward stabilizing the economy, others—especially small and medium-sized enterprises (SMEs) argue that the high-interest environment continues to stifle business growth.
Speaking in an exclusive chat with Nairametrics, Dr. Paul Alaje, Chief Economist and CEO of SPM Professionals, described the rate cut as a “very good development” that requires cautious optimism.