ACCI Welcomes MPC Rate Cut, Seeks Sustained Policy Support for Business Growth
Oru Leonard
The Abuja Chamber of Commerce and Industry (ACCI), has welcomed the decision of the Central Bank of Nigeria (CBN)’s Monetary Policy Committee (MPC) to reduce the Monetary Policy Rate (MPR) to 27.0 percent, describing the move as a cautiously optimistic step toward easing financial pressures on businesses and supporting Nigeria’s economic recovery.
In a statement issued on Tuesday Chief Emeka Obegolu, SAN, PhD, President of the Abuja Chamber of Commerce and Industry, ACCI said the 50-basis-point reduction reflects growing confidence in Nigeria’s disinflation trend and broader macroeconomic stabilization. According to the Chamber, the moderation in headline inflation and improved exchange rate stability provided a supportive backdrop for the policy adjustment.
As the leading voice of the business community in the Federal Capital Territory, ACCI noted that the cut in the MPR, alongside the reduction in the Cash Reserve Ratio (CRR) for commercial banks, is expected to moderate borrowing costs, enhance access to credit, and stimulate investment—particularly for micro, small, and medium enterprises (MSMEs), which form the backbone of Nigeria’s productive sector.
The Chamber, however, acknowledged the MPC’s concerns regarding excess liquidity within the banking system. It expressed understanding of the apex bank’s decision to introduce a 75 percent CRR on non-Treasury Single Account (non-TSA) public sector deposits as a safeguard to manage liquidity. While the measure may temporarily constrain liquidity for some banks, ACCI said it is likely to improve monetary policy transmission and reinforce price stability over time.
ACCI also highlighted the adjustment of the asymmetric corridor as a technical but significant reform aimed at improving interbank market efficiency and strengthening overall policy effectiveness.
The Chamber stated that the current policy mix is expected to:
Reduce financing costs and improve credit availability to the real sector
Support private sector expansion and job creation
Sustain exchange rate stability and boost investor confidence
Encourage prudent fiscal liquidity management and greater transparency
Call for Complementary Reforms
While commending the CBN for what it described as a balanced and pragmatic approach, ACCI called for sustained coordination between monetary and fiscal authorities to ensure that easing financial conditions translate into measurable real sector growth.
The Chamber further advocated targeted credit interventions, accelerated infrastructure development, and regulatory reforms to lower the cost of doing business across the country.
ACCI reaffirmed its commitment to working closely with policymakers and stakeholders to ensure that the evolving monetary environment delivers tangible benefits to businesses, investors, and households in the Federal Capital Territory and Nigeria at large.
