In Nigeria, a man’s wealth is usually determined by the look of his meal. The more sumptuous the look, the richer the man is likely to be. To the average Nigerian, a meal without meat is almost synonymous with penury.
Empirical evidence shows that there is a positive correlation between income per capita and protein consumption. This means that the higher a man’s income, the more protein (milk, meat, etc.) he is likely to consume. Nigeria’s meat consumption is one of the lowest in the world. According to the EIU, an average Nigerian consumes an estimated 9kg of meat annually, compared to 30kg in the Middle East and Africa. Red meat is very high in cholesterol content and excessive consumption could put the person at risk of heart attack or stroke.
In this edition of the Unity Bank Digest, we discuss the impact of meat consumption on our health and also offer alternatives to a carnivorous lifestyle.
On a brighter note, Nigeria’s headline inflation eased to an 11-month low of 11.22% in June. In the same vein, Nigeria’s oil production rose to 1.86mbpd, the highest level since November 2015. The increase in output together with rising oil prices will provide the much-needed boost to dollar earnings.
From a policy perspective, the moderation in the rate of inflation could hasten the possibility of another cut in the monetary policy rate by the CBN. Other key developments in the political, economic and social space are captured in this edition of the Unity Bank Digest.
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