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Inflation Eases for Third Consecutive Month Hits 22.22% in June
Nigeria’s inflation rate declined for the third consecutive month, easing to 22.22% in June 2025 from 22.97% in May, marking the lowest level since April 2023. This 0.75 percentage point drop reflects favorable base effects and a relatively stable exchange rate, although monthly inflation slightly accelerated to 1.68%. Food inflation, the largest component, rose modestly to 21.97%, driven by price increases in key staples amid seasonal factors. Despite the easing headline inflation, consumer prices continue to exert pressure on households, underscoring ongoing challenges in balancing price stability with economic growth. The latest data from the National Bureau of Statistics provides cautious optimism but highlights the need for continued policy vigilance as Nigeria navigates its complex inflation dynamics.
Dangote: Transforming Nigeria’s Energy Landscape for the People
Dangote Refinery is poised to complete its transition to processing 100% Nigerian crude oil by the end of 2025, a milestone that heralds a transformative shift in Nigeria’s energy sector. Currently, the facility refines about 53% local crude, but with pending expiration of foreign crude supply contracts, the refinery will fully embrace domestic feedstock, significantly reducing reliance on imports. This strategic move is expected to not only bolster Nigeria’s upstream and downstream petroleum industries but also catalyze broader industrial growth by supplying abundant refined products for local consumption and export.
Simultaneously, Dangote’s plans to drastically reduce cooking gas prices aim to alleviate energy cost pressures on Nigerian households, enhancing affordability and access. Together, these developments signify a new chapter in Nigeria’s economic narrative: one marked by increased self-sufficiency, fiscal sustainability, and job creation.
This edition of the Unity Bank Digest provides a comprehensive analysis of these economic trends and engaging lifestyle and entertainment stories for your reading pleasure.
Enjoy!
