The Manufacturer Association of Nigeria (MAN) appeal to Tinubu to reduce the interest rate or they stop producing
The association says the present interest rates are killing businesses. President Bola Tinubu [Peoples Gazette] The Manufacturers Association of Nigeria (MAN) is uncomfortable with the present interest rate on loans for its members and needs a further reduction to 1%, an official has said Chief Bioku Rahman , the outgoing Chairman of MAN in Kwara and Kogi, disclosed this in Ilorin on Tuesday while speaking during the Association’s 10th Annual General Meeting (AGM). The News Agency of Nigeria (NAN) reports that the meeting’s theme is “Tackling the Challenges of the Manufacturing Sector: A Win-Win For Government and Local Manufacturers”. “The present interest rates are killing businesses. “We therefore ask the Federal Government to urgently direct the Central Bank of Nigeria (CBN) to drastically reduce interest rates on industrial loans. “The CBN should also direct commercial banks to reduce interest rates on industrial loans. “The interest rates charged on industrial l...