Small business owners sound alarm over increasing interest rates

  • Business owners complain that the high cost of operations and interest rates are choking business performance
  • The Oyo state Chairman of NSME, John Karunwi, states that many small and medium businesses are yet to feel the impact of government interventions
  • He calls on the government to introduce policies and programmes that will revive small businesses in Nigeria

Legit.ng journalist Ruth Okwumbu-Imafidon has over a decade of experience and a deep understanding of Nigeria’s corporate sector and emerging trends in the fintech space.

Small, medium and micro business owners in Nigeria say that the high interest rates and high cost of operations are gradually choking their businesses.