MPR Cut To 23%: Business Stakeholders Demand Lower Lending Rates

Business stakeholders have described the reduction of the Monetary Policy Rate to 23 percent by the Monetary Policy Committee as a positive development, while insisting that the expected next step must be a transition to lower lending rates.
Reacting to the outcome of the MPC meeting earlier today, the director-general, Manufacturers Association of Nigeria (MAN) Segun Ajayi-Kadir, said the move signals a positive disposition by the Central Bank of Nigeria to ease pressure on the real sector.
According to him, MAN is of the opinion that the reduction is positive, while maintaining that the expected next step is lending rate reduction.
“This development is indicative of CBN’s positive...