Search
Sign in
North Africa
Central Africa
East Africa
West Africa
Southern Africa

Nigerian Businesses Criticise Interest Rate Hikes Amid Economic Struggles

Allen dreyfus Logo
© Allen Dreyfus

Dulue Mbachu

Dulue Mbachu, an experienced journalist, covers business and politics for 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.

Sign Up To Our Free Newsletter

Recent Business

Nairobi, Kenya © Unsplash
AfDB’s concessional fund eyes $1bn bond sale as donor support wanes
05/02/2026
5 hours ago
Brandon Orion Mensah
Read More »
Africa map @ Unsplash
JPMorgan plans frontier bond index for over 25 African and Asian countries
05/02/2026
7 hours ago
Brandon Orion Mensah
Read More »
Cyril Ramaphosa, President of South Africa (L) and Dr. George Elombi, President and Chairman of Afreximbank at the ceremony. Photo: Afreximbank
South Africa joins Afreximbank, unlocking $8bn push for intra-African trade
05/02/2026
9 hours ago
Eric Kasongo
Read More »
Custom Research

Recent Politics

Kenya youth protest @ Unsplash
Kenya church attack on ex–deputy president exposes security rifts
04/02/2026
1 day ago
Wanderi Kamau
Read More »
Ghana ex-vice president Mahamudu Bawumia to lead opposition NPP in 2028 polls. Photo: Bawumia/Facebook page
Ghana opposition NPP re-elects Bawumia as flagbearer ahead of 2028 polls
31/01/2026
5 days ago
Kent Mensah
Read More »
Raila Odinga was seen as the father of democracy in Kenya. Photo @ Raila Odinga/Facebook
Raila Odinga’s death exposes deep family rift inside Kenya’s opposition ODM
27/01/2026
1 week ago
Wanderi Kamau
Read More »

Latest Posts

Latest news insights

Nairobi, Kenya © Unsplash
Read More »
AfDB’s concessional fund eyes $1bn bond sale as donor support wanes
Africa map @ Unsplash
Read More »
JPMorgan plans frontier bond index for over 25 African and Asian countries
Cyril Ramaphosa, President of South Africa (L) and Dr. George Elombi, President and Chairman of Afreximbank at the ceremony. Photo: Afreximbank
Read More »
South Africa joins Afreximbank, unlocking $8bn push for intra-African trade
Maintenance of electricity transmission lines. Photo by Mario Spencer @ Unsplash
Read More »
UK backs Ethiopia reforms with $400mn power-grid push
Africa map @ Unsplash
Read More »
JPMorgan plans frontier bond index for over 25 African and Asian countries
Cyril Ramaphosa, President of South Africa (L) and Dr. George Elombi, President and Chairman of Afreximbank at the ceremony. Photo: Afreximbank
Read More »
South Africa joins Afreximbank, unlocking $8bn push for intra-African trade
Maintenance of electricity transmission lines. Photo by Mario Spencer @ Unsplash
Read More »
UK backs Ethiopia reforms with $400mn power-grid push
Mobile money instant payment in Africa. Photo by Olumide Bamgbelu @ Unsplash
Read More »
Nigeria pilots naira-only instant payments to Ghana in AfCFTA push
Cyril Ramaphosa, President of South Africa (L) and Dr. George Elombi, President and Chairman of Afreximbank at the ceremony. Photo: Afreximbank
Read More »
South Africa joins Afreximbank, unlocking $8bn push for intra-African trade
Maintenance of electricity transmission lines. Photo by Mario Spencer @ Unsplash
Read More »
UK backs Ethiopia reforms with $400mn power-grid push
Mobile money instant payment in Africa. Photo by Olumide Bamgbelu @ Unsplash
Read More »
Nigeria pilots naira-only instant payments to Ghana in AfCFTA push
Handweaving cotton textiles by Wawoto Kacel. Photo Chris Lutanga & ITC @ Unsplash
Read More »
US revives Africa trade scheme with one-year AGOA extension