A combination of rising interest rates and naira devaluation has almost tripled the borrowing costs of some manufacturing companies in Nigeria, data compiled by BusinessDay shows.
BusinessDay analysis of the data from their financial statements shows that the total finance cost of the eight firms
```
Members Only
Login or create an account to continue
This article is available to registered BusinessDay readers. Please login if you already have an account, or create a new account to continue reading.
New to BusinessDay? Register now and start reading.
```
Folake Balogun
Folake Balogun is a tech journalist covering Africa’s fast-growing digital economy with a strong focus on incisive analysis of startup trends, venture capital, and fintech innovation, while also exploring emerging technologies such as artificial intelligence and the future of connectivity by highlighting their economic and social impact.
