Costly loans, FX volatility rattle manufacturers despite FG’s claims of economic stability

By Merit Ibe                                              
ibe.merit@yahoo.com 
 
Although the incumbent administration of President Bola Tinubu easily claims to have stabilised the economy, Manufacturers in Nigeria and SMEs generally may beg to differ.
They are grappling with mounting economic pressures driven by persistent supply chain disruptions, high borrowing costs, unending energy crisis, volatile exchange rates and weak consumer demand. These factors continue to worsen the operating environment amid rising global tensions.
The challenges are also felt across Africa.
Secretary-General of the Pan-African Manufacturers Association, Segun Ajayi-Kadir, said global manuf...