Nigeria, May 21 -- The Central Bank of Nigeria's Monetary Policy Committee kept the benchmark interest rate unchanged at 27.5 percent in its record 300th meeting.

This comes following additional efforts at stabilizing the naira and inflation, which are now at a two-year low.

Nigeria's currency also demonstrated some resilience, rebounding after two weeks of subdued trading. However, the MPC said that medium-term budget support will continue to be needed to sustain this trend, particularly in the rising foreign exchange inflows. So long as international oil markets continue to be volatile due to geopolitics and trade wars, though, the government's determination to support domestic production and diversify export revenues, particularly of...