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

Oil rig. Photo by WORKSITE Ltd. @ Unsplash
Nigeria cuts petrol imports to $10bn as Dangote refinery reshapes trade
Read More »
Cairo, Egypt © Unsplash
Egypt targets 5.4% GDP growth as fiscal overhaul aims to cut debt
Read More »
Starlink terminal. Photo by Evgeny Opanasenko @ Unsplash
Why did Namibia reject Starlink despite demand for cheaper internet?
Read More »

Recent Politics

A soldier in the war front. Photo by Stijn Swinnen @ Unsplash
Kenya halts recruitment into Russia’s war. Who gains and who loses?
Read More »
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 »

Latest Posts

Latest news insights