But the sector operators have continued to grapple with high borrowing costs, inadequate power supply, foreign exchange constraints and multiple taxation. He, however, noted that the optimism remained fragile as manufacturers continued to face severe operational challenges. Actual business and employment conditions during the second quarter remained weak, with both indicators still below the 50-point threshold, reflecting subdued business activity,” Ajayi-Kadir stated. Ajayi-Kadir said manufacturers remained dissatisfied with the high cost of bank credit, attributing it to the Central Bank of Nigeria’s Monetary Policy Rate, MPR, of 26.5 per cent. “Commercial lending rates remain prohibitively high for manufacturers.