Search

Nigerian Businesses Criticise Interest Rate Hikes Amid Economic Struggles

Allen dreyfus Logo
© Allen Dreyfus
  • Manufacturers and commerce chambers say rate hikes harm business survival
  • High borrowing costs escalate production expenses and unemployment

Abuja, Nigeria – Businesses represented by the Manufacturers Association of Nigeria (MAN) and the Lagos Chamber of Commerce and Industry (LCCI) have criticized continuous interest rate hikes by monetary authorities, deeming them detrimental to their survival.

Recent Business

Steel factory. Photo by Peter Herrmann @ Unsplash
Morocco producer prices rebound on chemicals after six-month slide
Read More »
An exhibition stand at the Intra-Africa Trade Fair 2025 in Algeria Photo: Afreximbank Media
South Africa trade surplus narrows sharply in October
Read More »
Women hawkers on the streets of Accra, Ghana. Photo by Langford Kwabena @ Unsplash
Ghana inflation drops to 6.3% in November as price pressures ease
Read More »

Recent Politics

William Ruto, President of The Republic of Kenya. Photo: @ William Ruto/Facebook
Ruto strengthens 2027 re-election bid as UDA sweeps key Kenya by-elections
Read More »
Ghana President John Mahama. Photo courtesy: Office of the President/Facebook
Ghana’s $1.1bn presidential jet plan reignites debate over cost and priorities
Read More »
Tilembeya, Mopti, Mali. Photo by Kagou Dicko @ Unsplash
IMF backs Mali reforms despite insecurity and debt risks
Read More »

Latest Posts

Latest news insights