MAN: Lending Rate to Manufacturers Rose from 28.6% to 35% in Q2, 2024 Says continuous hike in MPR tightening conditions for productive sector Naira will gain if Nigeria manufactures own weapons, argues defence minister
Dike Onwuamaeze in Lagos and Linus Ikechukwu in Abuja
The Manufacturers Association of Nigeria (MAN) yesterday lamented that the average maximum lending
rate charged by commercial banks on loans to its members rose to 35 per cent in Q2 of 2024, up from
28.6 per cent in Q1. MAN made this known in a report titled: “MAN Position on
the Incessant Increase in Interest Rate,” published in its Q2’24 “MAN CEO’s Confidence Index (MCCI).”
The report showed that the Continued on page 9
Thursday 15 August, 2024 Vol 29. No 10718. Price: N400
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WHO Declares Health Emergency Over Mpox... Page 5
NSA: Attempts to Disrupt Peaceful Conduct of Edo Guber Poll Will Be Met with Full Force Adedayo Akinwale in Abuja
The National Security Adviser (NSA), Mallam Nuhu Ribadu,
has warned that any attempt to undermine, interfere with, or disrupt the peaceful conduct of the September 21 governorship election
in Edo State would be viewed as an assault on the very essence of the country's democratic values. Ribadu, who was represented
by Hassan Yahaya disclosed this yesterday in Abuja at Inter-agency Consultative Committee on Election Security (ICCES) meeting held at
the headquarters of the Independent National Electoral Commission (INEC). He added that those planning
to disrupt the elections should not mistake the current administration's Continued on page 9
FG Approves Implementation of Zero Duty, VAT Exemption on Selected Food Items New policy takes effect today, expected to crash food prices James Emejo in Abuja The federal government yesterday approved the regulation for the implementation of a Zero per cent Duty Rate and Value Added Tax (VAT) exemption on selected basic food items. Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, confirmed the development to THISDAY yesterday evening. The Nigeria Customs Service (NCS) also disclosed the development in a statement, adding that President Bola Tinubu okayed the
implementation through finance minister. National Public Relations Officer, Chief Superintendent of Customs Abdullahi Maiwada, further explained that the new policy will take effect from August 15, 2024 (today) till December 31, 2024. The measure aims to mitigate the high cost of food items in the Nigerian market by making essential commodities more affordable for citizens. Maiwada also stressed that the initiative was part of the governContinued on page 9
Keyamo Leads Delegation to Europe Over Abuja Second KOLA ADESINA IS 60!!!... L-R: Celebrant and Chairman Sahara Energy, Kola Adesina, with His Majesty, Olu of Warri, Ogiame Atuwatse III, during Adesina's 60th birthday Runway Project... Page 42 celebration in Lagos on Monday