Mr Yusuf said the CBN’s decision was in response to prevailing global economic uncertainties.
Mr Yusuf said outright import prohibition would likely create more economic challenges than it would solve.
The Senate passed a Customs, Excise Tariff, etc., (Consolidation) Act (Amendment) Bill 2025 to reform excise duties on sugar-sweetened beverages.
The Centre for the Promotion of Private Enterprise has praised the Central Bank of Nigeria for retaining key monetary policy parameters at the 305th MPC meeting.
The headline inflation rose marginally from 15.38 per cent in March to 15.69 per cent in April.
CPPE has urged targeted tariff adjustments to strengthen domestic refining, improve mobility, and expand nationwide access to renewable energy.
Muda Yusuf, chief executive officer of CPPE, said this on Monday in Lagos in reaction to the December inflation rate of 15.15 per cent by the National Bureau of Statistics.
“The Cardoso-led CBN has sought to address these problems through bold reforms, focusing on transparency, stability, and credibility,” CPPE said.
The June figure dropped from May’s 22.97 per cent, reflecting a continued decline in headline inflation.
Mr Yusuf said that economic fundamentals needed to be addressed frontally to accelerate growth.
