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

Dr Johnson Asiama, Governor of the Bank of Ghana @ Facebook/BoG
Ghana cuts interest rates to 14% as inflation falls and growth strengthens
Read More »
Busy airport. Photo by Duc Van @ Unsplash
Africa tops global airline accident rates despite improved safety
Read More »
Overview of the Central Business District in Gaborone, Botswana. Photo by Justice Hubane @ Unsplash
Botswana inflation eases to 4.0% in February
Read More »

Recent Politics

Uganda president Yoweri Kaguta Museveni. Photo: Yoweri Kaguta Museveni/Facebook
Can Museveni’s leadership and a new funding model rescue East Africa from chronic cash crises?
Read More »
Nigeria young voters protest for reforms. Photo by Ayoola Salako @ Unsplash
Nigeria’s 2027 election raises political risk for investors
Read More »
Edwin Sifuna, Kenya's ODM secretary-general. Photo: Edwin W Sifuna/Facebook
Is Edwin Sifuna Kenya’s new Raila Odinga?
Read More »

Latest Posts

Latest news insights