Small Business Operators Say Rate Cut Alone Won’t Ease SME Burden

The Association of Small Business Owners of Nigeria (ASBON) has urged the federal government to implement broader structural reforms alongside the recent cut in the Monetary Policy Rate by the Central Bank of Nigeria. The association warned that the rate reduction alone will not significantly ease operating costs or unlock credit for small and medium-sized enterprises. ASBON called for measures to ensure that the lower benchmark interest rate translates into cheaper and easier access to finance through commercial banks. National President Dr Femi Egbesola made the call in an interview with LEADERSHIP.

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