Dear Subscriber,
After years of decline, Nigerian diaspora flows pick up
Inward remittances by Nigerians in diaspora had been declining in the last few years. The recent report by the CBN that Nigerian diaspora flows had inched up by 0.9% to $10.02bn in H1’22 came as a surprise relief to many analysts and investors. This, coming at a time when the naira has been languishing in the forex market (N744/$), will help bolster confidence in the domestic currency. Some analysts, are of the view that the increase in the diaspora flows is a reflection of the recovery in the jobs market in the US, UK and Continental Europe. But before we start getting carried away by one data point, we must reiterate that the fears of a global recession remain palpable and could turn the good news into an anticlimax.
Internet price hike threatens data affordability
From commodity prices to airline tickets, it appears that the cost of living crisis has extended its ugly hands to data services. Two of Nigeria’s major telcos, MTN Nigeria and Airtel Africa Plc have announced a 10% increase in the price of their data bundles. The increase in data charges, along with the general price increases will continue to put pressure on consumer disposable income. As price leaders in an oligopolistic industry, it is imminent that other providers will follow suit in the new price regime.
Five tips to build healthy relationships at work
Maintaining a work-life balance will help increase productivity. According to the Harvard Study of Adult Development, quality relationships at work contribute to an individual’s happiness and health. It helps reduce stress and burnout at work. An average adult will spend one third of their lives at work. Therefore, developing a healthy workplace relationship is crucial. The tips in the lifestyle section of this Unity Bank Digest will help you build and nurture healthy work relationships.
This edition of the Unity Bank Digest, as usual, provides you with intriguing recent economic news and interesting social stories.
Please enjoy your read!
