Dear subscriber,

All for one

Dangote Refinery’s suspension of its naira-for-crude deal has raised concerns about a petrol pump price hike in the near term and resulted in a 2.94% increase in depot fuel prices to N875/litre in March 2025. As transport costs rise, consumers and small businesses are expected to feel the strain. Higher expenses will shrink profit margins, while rising prices may dampen consumer demand, leading to lower sales. To stay competitive, small businesses must find ways to cut costs, whether through bulk transport deals or    optimized delivery routes. As Benjamin Franklin wisely said, “Beware of little expenses; a small leak will sink a great ship.” Every naira saved on transportation can be redirected toward more essential needs. In this edition of the Unity Bank Digest, our lifestyle section explores practical ways to trim your monthly transport costs without compromising ease or efficiency.

The great divide

Nigeria’s inflation is reported to be easing, reaching 23.18% in February 2025. However, a closer look at the data reveals a widening economic divide between urban and rural areas. In cities, where inflation stands at 25.15%, soaring housing and transport costs are driving up operating expenses, making it harder for small businesses to stay afloat. Meanwhile, rural businesses face a different challenge—lower inflation at 19.89%, but weaker consumer demand and supply chain disruptions that stifle sales and profitability. This disparity forces small businesses into making tough decisions. Urban enterprises must carefully balance rising costs wit h competitive pricing to retain customers, while rural entities struggle with slow-moving inventory as purchasing power weakens.

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.