THE UNITY BANK DIGEST – MAY 07, 2020

Dear Subscriber,

Boost your natural defences – Live from inside out!

Remember the popular saying “Rome was not built in a day”? Well, so are the natural walls (defences) of your body. They take time to build and protect you from infections. So today, be diligent to lay each building block of adequate sleep, balanced diet and sufficient exercise and watch your natural walls (defences) become concrete. The truth is, when you feel good inside, it transcends to the outside.

The lifestyle section of this digest provides simple tips to boost your natural defences and live a healthy life.

FG makes the tough call to cut oil benchmark again to $20pb

The Federal Government has come to face to face with the staggering effect of the health crisis on its oil dependent economy. This would be the second time the 2020 budget will be revised in three months. The crude oil price benchmark has fallen by over 60% from an initial price of $57pb to $20pb. Whilst the global oil market is receiving some momentum. Italy, Germany, China and the US are beginning to relax their lockdown measures which have been in place for over 2 months. This coupled with the 9.7mbpd OPEC+ supply cut is expected to prop up oil prices. However, Nigeria has to prepare for a time without oil cash as the effect of lower oil proceeds and high volatility in the oil markets have proven to weaken the country’s economy.

This edition of the Unity Bank Digest contains key economic developments that have been perfectly packaged to give you the ideal dose of information and entertainment.

Enjoy your read!