Nigeria Central Bank Sets Inflation Goal, Aims for 16.5% in 2026

Nigeria’s central bank is formalizing its shift toward an inflation-targeting framework that will aim to slow price growth to 13% by 2027.

Under the phased plan, the central bank will target 16.5% inflation in 2026, with a tolerance band of plus or minus two percentage points, compared with 18.5% this year, the Central Bank of Nigeria said in its 2026 macroeconomic outlook released Tuesday. The bank expects price gains to average about 21% this year.