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Economic analyst Chika Mbonu has recognised the Central Bank of Nigeria's recent reforms for enhancing foreign exchange stability and bolstering confidence, but highlighted the severe cost-of-living challenges faced by ordinary citizens as a direct consequence.
Ghana's inflation rate has sharply decreased to 3.3% as of February 2026, attributed to tighter monetary policies and improved exchange rate stability. This turnaround comes after a period of economic challenges that peaked with inflation rates at 54% in 2022.
Nigeria's stock market experienced a significant surge in January and February 2026, adding N24.4 trillion in market capitalization. This growth was driven by a shift from low-yield bonds to equities, influenced by improved macroeconomic conditions and strong corporate financial results.
Economist Chijoke Ekechukwu believes that if Nigeria's inflation rate keeps falling and the economy remains stable, the Central Bank of Nigeria might implement additional cuts to the monetary policy rate. He noted the recent reduction was a logical step to boost economic activity.
Olayemi Cardoso, Governor of the Central Bank of Nigeria, asserted that the recent reforms initiated upon his appointment have successfully stabilized the economy. He also pointed out potential risks associated with the upcoming election cycle.
Zimbabwe's inflation rate has dropped to single digits for the first time since 1997, a significant development as the country seeks to establish the ZiG as its exclusive currency by 2030. Official reports reveal that inflation fell to 4.1% in January, a drastic decline from the previous month's 15%.
The World Bank and the International Monetary Fund emphasized the need for decisive actions to combat inflation, citing persistent economic instability in Nigeria. Meanwhile, the Nigerian Economic Summit Group projects a GDP growth of 5.5% for 2026.
