Dear Subscriber,

Frugal living, the new cliché

Living in Nigeria is expensive. The monthly expense sheet of an average millennial typically includes food, rent, transportation, fuel, ‘asoebi’ and other miscellaneous items. Tracking and reining in your expenses requires discipline and proactive measures. A good start is to set financial goals that are Specific, Measurable, Attainable, Relevant and Timely. In summary, make sure you create a budget and stick to it!

The Lifestyle section of this Digest contains easy steps on how to organize and manage your money on a daily basis.

Oil discovered in North Eastern Nigeria – Hurrah or not yet Uhuru??

According to the Minister of State for Petroleum, one billion barrels of oil reserves were discovered in the North East. The discovery brings Nigeria’s total oil reserves to approximately 38billion barrels and suddenly makes the North Eastern region highly attractive to investors. However, this comes at a time when Nigeria’s oil production could be cut further by OPEC+. It would be interesting to see how Nigeria manages the newly found oil reserves amid its production constraints.

This edition of the Unity Bank Digest provides further insight on CBN’s ban on milk importation as well as OPEC’s Technical Committee’s recommendation for additional output cuts. You will also find social stories such as the glamorous Oscar Awards, the life and death of Spartacus star, Kirk Douglas and the Superbowl LIV 2020.

It promises to be a great read!