Businesses are caught in the turmoil <\/em><\/strong><\/p>\nBusinesses in Nigeria are facing multiple economic shocks to their operations and profitability. From forex scarcity to rising input costs, higher debt service burden and slowing consumer demand, the impact on businesses remains debilitating.\u00a0 Many businesses are beginning to halt operations or lay off staff. For instance, GlaxoSmithKline Nigeria, a distributor of pharmaceutical products, ceased operation due to supply constraints and the impact of recent policy decisions.<\/p>\n
In July, inflation climbed higher by a whopping 1.29% to 24.08% mainly driven by higher food and diesel prices. But there could be some respite as the FG says there\u2019ll be no further hike in petrol prices, which has climbed by 234% to \u20a6617\/litre since the subsidy reduction. Moreso, the NNPCL has secured a $3 billion emergency crude repayment\u00a0loan to stabilize the naira. As a result, the naira has appreciated in a few days to \u20a6860\/$ from a low of \u20a6950\/$, while the official rate is stable at \u20a6799.50\/$-\u20a6799.90\/$.<\/p>\n
In this edition of the Unity Bank Digest, we analyze the impact of these economic issues on individuals and consumers, but we are also spicing the challenges with lifestyle and entertainment stories, for your reading pleasure.<\/p>\n
Please enjoy your read![\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"
[vc_row][vc_column][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Dear Subscriber, Find your feet and put them down! In the professional world, dealing with strong personalities can often be…<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,35],"tags":[],"_links":{"self":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/121140"}],"collection":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/comments?post=121140"}],"version-history":[{"count":1,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/121140\/revisions"}],"predecessor-version":[{"id":121141,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/posts\/121140\/revisions\/121141"}],"wp:attachment":[{"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/media?parent=121140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/categories?post=121140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fdcng.com\/wp-json\/wp\/v2\/tags?post=121140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}