Mirian Gom 
ABUJA, Nigeria – The Central Bank of Nigeria says 63.3 per cent of Nigerians want interest rates reduced ahead of the Monetary Policy Committee meeting scheduled for May 19 and 20, 2026.
The disclosure was contained in the CBN’s April 2026 Inflation Expectations Survey Report released by the bank’s Statistics Department under its Economic Policy Directorate.
According to the report, 26 per cent of respondents preferred retaining current rates, while 10.7 per cent supported another increase despite persistent inflationary pressures across the economy.
“The survey revealed high public engagement with CBN communications and a strong desire for a reduction in interest rates,” the report stated.
The findings emerge as the apex bank prepares to decide on the Monetary Policy Rate amid rising energy costs, exchange rate instability, insecurity and inflation concerns.
The survey showed worsening inflation perception in April, with 67.2 per cent of respondents describing inflation as high, compared with 56.4 per cent in March.
Households and businesses both reported rising inflation pressures, while low-income earners and rural communities expressed the highest concern over increasing living costs.
According to the report, households earning below ₦70,000 monthly recorded the highest inflation perception at 77.9 per cent.
Respondents identified energy costs, transportation, exchange rate volatility, insecurity and poor infrastructure as the major drivers of inflation.
“Business and household respondents identified energy, transportation, exchange rate, and infrastructure as the major drivers of their perceptions of inflation,” the report added.
Despite current economic pressures, many respondents expressed optimism that inflation could ease within the next six months.
The survey also revealed that 67.9 per cent of respondents expected household and business spending to rise during the current month.
The inflation expectations survey covered 3,587 respondents, including firms and households selected through the National Bureau of Statistics and National Population Commission frameworks.
Economists say the outcome of the upcoming MPC meeting could significantly influence borrowing costs, investment decisions and consumer spending across Nigeria.
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Korede Abdullah 