MAN warns 23% MPR cut may have little impact with lending rates at 30%

The Manufacturers Association of Nigeria (MAN) has warned that the Central Bank of Nigeria's reduction of its benchmark interest rate may have limited impact on manufacturers if commercial lending rates remain as high as 30%. The CBN recently cut the Monetary Policy Rate to 23%. MAN expressed concern that the high lending rates could continue to hinder manufacturers' access to credit. The article was published by Nairametrics.

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