Nigeria Targets Single-Digit Inflation and Cheaper Loans by 2027

The Federal Government says it aims to reduce inflation to a single digit by the end of 2027, a move it believes could help bring down borrowing costs for businesses and households. Taiwo Oyedele, chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, said the target would create room for single-digit interest rates and stronger economic growth. He spoke at the Nigerian Economic Summit in Abuja. Oyedele said savings from foreign exchange reforms and the removal of petrol subsidies had supported salary increases, pension arrears and lower-interest loans for small businesses. He noted that inflation fell to 14.63 per cent in September 2026, but the government has not yet outlined detailed measures for reaching a single-digit rate.

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