The President of the Association of Food, Beverage and Tobacco Employers (AFBTE), Mr. Chinedum Okereke, has expressed concerns regarding the impact of Nigeria's high interest rates on the business sector. He highlighted that the current interest rate of 27% is significantly hindering the operations and growth of businesses within the industry. Despite Nigeria recording a Gross Domestic Product (GDP) growth rate of 3.87%, the elevated borrowing costs are posing serious challenges for companies striving to remain competitive and sustainable in the market.
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