Nigeria targets single-digit inflation by end-2027 to unlock cheaper borrowing, minister says

ABUJA, Oct 26 (Reuters) - Nigeria aims to cut inflation to low single digits before the end of 2027, paving the way for sharply lower interest rates that could lower borrowing costs and support growth, Finance Minister Taiwo Oyedele said on Monday.

"If you are growing at 4.43% and borrowing at close to 30%, imagine what is possible when you borrow at ⁠single-digit rates," Oyedele said.

Reporting by Camillus Eboh. Writing by Elisha Bala-Gbogbo, Editing by William Maclean