Cost of Borrowing for Nigerian Manufacturers Jumped 53% in 5 Years
Nigerian manufacturers are paying a lot more to borrow money from banks than they did five years ago, and it’s putting serious pressure on businesses trying to fund production or expand. According to data from the Manufacturers Association of Nigeria (MAN), manufacturers paid an average interest rate of 32.2% on loans in 2025. Back in […]
Dangote Buys 4,000 More Machines, Now Owns World’s Largest Construction Equipment Fleet
Dangote Industries has bought 4,000 more pieces of construction equipment for the expansion of its Lekki refinery, taking its total fleet to 6,500 machines — making it the largest owner of construction equipment in the world. This was revealed by the Group Vice President, Oil and Gas and Fertiliser, Devakumar Edwin, on Friday during a […]