CBN Interest Rate Hike Threatens Nigeria’s Housing Supply –Experts …C0NTINUE READING HERE >>>
The recent increase in the Central Bank of Nigeria (CBN)’s interest rates to 27.75 per cent has sparked concerns within the real estate sector, with industry professionals cautioning that the move could significantly drive up construction and maintenance costs across the country.
Experts in the field have noted that banks may now lend at rates approaching 40 per cent, a situation that would effectively cut off developers from accessing essential credit.
This, they warn, could severely…
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