THE UNITY BANK DIGEST – JULY 17, 2020

Dear Subscriber,

The Real Millennial Challenge: The Skills Gap

In a world where chatting online is the preferred mode of communication, it is not surprising that most millennials have a soft skills gap. Millennials have become preoccupied with hard skills and are falling short of the required soft skills in the workplace.

According to a recent McKinsey study, 40% of employers have difficulty filling vacancies because younger workers lack soft skills such as communication, teamwork, punctuality, leadership and ownership skills. Why are Millennials deficient in these skills and how can they develop them?

The lifestyle section of this digest shows in-demand soft skills that can help younger employees move into management roles in their careers.

Third Mainland Bridge to be closed for six months

The Federal Government has announced its plan to temporarily close the third mainland bridge for a 6-month period starting July 24, 2020. This is to address structural defects that could lead to tragic consequences. The bridge (once the longest in Africa) is a major link between the mainland and island of Lagos. A closure will be disruptive to business and social activities and lower productivity for residents. It will also lead to logistics challenges and push the inflation rate even higher than the current level of 12.56%.

Therefore, the lesson from the potential difficulty in closing the bridge is that periodic and consistent maintenance is preferable to the delayed process, which is always very expensive.

This edition of the Unity Bank Digest contains an analysis of recent economic and social developments such as Nigeria’s rising debt stock and a sneak peek into the World’s first gold plated hotel.

Enjoy your read!