• About
  • Advertise
  • Careers
  • Contact
Tuesday, July 1, 2025
  • Login
No Result
View All Result
NEWSLETTER
Reporters At Large
  • Home
  • News
    • World
    • For The Record
    • Metro
    • Opinion
    • Press Releases
  • Business
    • Auto Trend
  • Politics
  • Tourism
  • Lifestyle
    • People & Events
    • Health
  • RAL TV
    • Video
    • Video News
  • More
    • Advertisement
    • Privacy
    • Disclaimer
    • Contact Us
  • Home
  • News
    • World
    • For The Record
    • Metro
    • Opinion
    • Press Releases
  • Business
    • Auto Trend
  • Politics
  • Tourism
  • Lifestyle
    • People & Events
    • Health
  • RAL TV
    • Video
    • Video News
  • More
    • Advertisement
    • Privacy
    • Disclaimer
    • Contact Us
No Result
View All Result
Reporters At Large
No Result
View All Result
Home News

High Interest Rate Cause Of Massive Job Loss In Nigeria —el-Rufai

by ReportersAtLarge
August 10, 2016
in News
Reading Time: 1 min read
0
Kaduna State Governor, Nasir el-Rufai

Kaduna State Governor, Nasir el-Rufai

Share on WhatsappShare on FacebookShare on TwitterShare on Linkedin

KADUNA State governor, Mallam Nasir el-Rufai, on Wednesday, said prevailing interest rate regime has led to massive job losses in the country.

According to him, with benchmark interest rate at 14 per cent, only illegal businesses could thrive in the country.

Speaking in a keynote address at a special edition of roundtable organised by Women in Business, in Abuja, el-Rufai threatened that CBN risked losing its power to set lending rates for commercial banks unless it immediately addressed the situation, adding that only unscrupulous elements could successfully operate under the current fiscal policy atmosphere.

ADVERTISEMENT

“We have a Central Bank that has an MPR at 14 per cent and banks lending at 20 per cent. Only traders and drug dealers can make money at this interest rate.

“I have said it before and I will repeat it again, unless the Central Bank and the banking system make a conscious decision to bring interest rate down, one day, we would legislate it,” el-Rufai said.

RelatedPosts

Sola Abegunde’s Demonic Obsession With Governor Makinde

80-Year-Old Uganda President Yoweri Museveni Seeks Re-Election

Why This Oyo Senator Must Be Pushed Out!

He debunked the notion that high interest rate was panacea for high inflation.

“The rate of inflation in the United Kingdom is not two per cent or one per cent. It is seven to eight per cent. But lending rate is at what one per cent. I think they cut the interest rate last week.

“All these theories that the rate of interest must be above the rate of inflation is economic (expletive),” el-Rufai said.

“We must decide that businesses should be able to borrow at the rate interest that makes sense and politically lower rates to that level,” he added.

The Women in Business roundtable attracted professionals from all walks of life and the participants used the platform to share viable ideas and express challenges faced in running a successful enterprise.

Tags: BankingInterest RatesJob LossKaduna StateNigeria
SendShareTweetShare
ReportersAtLarge

ReportersAtLarge

Reporters At Large is the world’s fastest-growing online news platform and public service broadcaster. We’re impartial and independent, and every day we create distinctive, world-class programmes and content which inform, educate and entertain millions of people in Nigeria and around the world.

More

Seyi Makinde SAfER: From Poverty Alleviation To Wealth Creation
Opinion

Sola Abegunde’s Demonic Obsession With Governor Makinde

by ReportersAtLarge
July 1, 2025
0

During the coronation of Oba Adebayo Adegbola as the new Eleruwa of Eruwa at the Eruwa Township Stadium last Saturday,...

Read moreDetails
WorldNews

80-Year-Old Uganda President Yoweri Museveni Seeks Re-Election

by ReportersAtLarge
June 29, 2025
0

Ugandan leader Yoweri Museveni has confirmed he intends to contest in next year's presidential election, potentially extending his rule in...

Read moreDetails
Senator Abdulfatai Buhari
Opinion

Why This Oyo Senator Must Be Pushed Out!

by ReportersAtLarge
June 29, 2025
0

Senator Fatai Buhari, is not just a legislator; he is a beacon of integrity, diligence, and unwavering commitment. A seasoned...

Read moreDetails
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

British Prime Minister Boris Johnson

JUST IN: UK Prime Minister Boris Johnson Resigns, Read Highlights Of His Resignation Speech

3 years ago
First Black Youngest Pilot To Fly Solo Around The World, Captain Barrington Irving, Establishes Aviation Training School

First Black Pilot To Fly Solo Around The World Launches Aviation Training School

2 years ago

Popular News

  • Seyi Makinde SAfER: From Poverty Alleviation To Wealth Creation

    Sola Abegunde’s Demonic Obsession With Governor Makinde

    0 shares
    Share 0 Tweet 0
  • Tension As Police Take Over PDP Secretariat In Abuja

    0 shares
    Share 0 Tweet 0
  • Makinde Turning Oyo To A 24-Hour Economy – Hotelier Association President, Ogundele

    0 shares
    Share 0 Tweet 0
  • 2027: Tambuwal Leads Sokoto, Kebbi PDP Into Coalition Bloc

    0 shares
    Share 0 Tweet 0
  • 2027: Oyo PDP Ward Chairmen Declare Support For Makinde

    0 shares
    Share 0 Tweet 0

Connect with us

ADVERTISEMENT

About Us

Reporters At Large is the world’s fastest-growing online news platform and public service broadcaster. We’re impartial and independent, and every day we create distinctive, world-class programmes and content which inform, educate and entertain millions of people in Nigeria and around the world.

With a high level of professionalism, fairness, objectivity, accuracy and speed, we publish Breaking News Nigeria Today Headlines and International news on Politics, Tourism and Travel, Entertainment, Sports, Business Lifestyle and Sports.

Category

  • Auto Trend
  • Breaking Bones
  • Business
  • Columns
  • Entertainment
  • Featured
  • For The Record
  • Health
  • Innovation
  • Lifestyle
  • Metro
  • News
  • Opinion
  • People & Events
  • Politics
  • Press Releases
  • Science & Technology
  • Sponsored
  • Sport
  • Tourism & Culture
  • Video
  • Video News
  • WorldNews

Recent Posts

  • Sola Abegunde’s Demonic Obsession With Governor Makinde July 1, 2025
  • Tension As Police Take Over PDP Secretariat In Abuja June 30, 2025
  • Makinde Turning Oyo To A 24-Hour Economy – Hotelier Association President, Ogundele June 30, 2025
  • 2027: Tambuwal Leads Sokoto, Kebbi PDP Into Coalition Bloc June 30, 2025
  • 2027: Oyo PDP Ward Chairmen Declare Support For Makinde June 29, 2025
August 2016
SMTWTFS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jul   Sep »
  • Home
  • News
  • Business
  • Politics
  • Tourism
  • Lifestyle
  • RAL TV
  • More

© 2016-2024 RAL - Guided by professionalism

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • World
    • For The Record
    • Metro
    • Opinion
    • Press Releases
  • Business
    • Auto Trend
  • Politics
  • Tourism
  • Lifestyle
    • People & Events
    • Health
  • RAL TV
    • Video
    • Video News
  • More
    • Advertisement
    • Privacy
    • Disclaimer
    • Contact Us

© 2016-2024 RAL - Guided by professionalism

Verified by MonsterInsights