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Nigerian Businesses Criticise Interest Rate Hikes Amid Economic Struggles

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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.

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