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Banks' Loan Rates Soar to 36%, SMEs Struggle to Survive
The Business NG
|The BusinessNG
Nigerian businesses are reeling under the weight of soaring bank lending rates, which now range between 29% and 36%, raising fears of slower growth, stalled investments, and rising job losses.
According to findings by BusinessNG, companies—especially small and medium-sized enterprises (SMEs)—say they can no longer afford new loans and are struggling to service existing ones. Th
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