THE UNITY BANK DIGEST – JUNE 13, 2017

Air passenger traffic in Nigeria witnessed a sharp decline in the first quarter of 2017. Lower disposable income and the naira depreciation drove the total number of air passengers to 2.5 million from 3.5 million in Q4 2016. Additionally, the six-week closure of the Abuja airport contributed to the decline in traffic on domestic routes.

For the most part, growth in the aviation sector moves in tandem with economic activity.  Therefore, a recovery in economic output will spur an increase in air traffic and load factors.

The attached document contains the usual mix of social and economic news. This includes a breakdown of unemployment figures, NASA’s quest to travel to the sun and information about the feminist movie that is currently breaking box office records.

Speaking of feminism, did you know that only 36% of US companies are owned by women? The lifestyle section contains an interesting piece on why women don’t consider entrepreneurship as their career path.

Enjoy your read!