New Year: Uba Michael felicitates Nigerians, calls for review of interest rate

The Chief Executive Officer of UBACLE Group, Uba Michael, has called on the federal government to support local manufacturers by ensuring that the high interest rate is reviewable. Michael made this known in his new year message on Wednesday. He said this could be one of the best gifts to Nigerians as they begin the […]

The Chief Executive Officer of UBACLE Group, Uba Michael, has called on the federal government to support local manufacturers by ensuring that the high interest rate is reviewable.

Michael made this known in his new year message on Wednesday.

He said this could be one of the best gifts to Nigerians as they begin the new year.

According to reports, the Central Bank of Nigeria (CBN) November 2024, raised its benchmark lending rate to 27.50%, a new record high.

He said, “I want to wish every Nigerian a happy new year and pray that joy that comes with the season is actualized in their lives.

“I also want to urge the federal government to give us the new year gift of reviewing the interest rate which is making it difficult for local manufacturers to continue in business.

“Local manufacturers are eager to contribute their quota to the growth of the economy, but they can’t do that if the business environment is hostile.

“The actual reason for this message is to celebrate Nigerians for making it to another year and pray for a prosperous 2025.”