Dear Subscriber,

Social media does not have to be just a waste of time

Do you know that you can make a bundle from social media interactions either as an influencer or blogger? Research shows that up to $10,000 can be earned per post, depending on the platform that is if you play your cards right. Several Millennials and Gen-Zs use social media mainly to connect with their friends and engage in mindless scrolling. You might as well turn this into a side hustle, or better still, earn a living from it.

The Lifestyle section of the digest outlines tips to develop the right mindset and discipline to take full advantage of social media.

Electricity tariff hike takes off

After an extended period of controversy, the NERC has finally accepted the need for cost-reflective tariffs by the DisCos. This means an average of a 75% increase for the affluent. For those at the bottom of the pyramid, there is no increase for now. The burden of the hike is on the “rich” for now.

The average Nigerian has been under a lot of pressure lately – higher electricity cost (avg. 75% hike), increase in PMS price (10%), high logistics costs (3rd Mainland Bridge closure) and a weaker naira. The good news is that as more sectors reopen, we should see a boost in economic activities and gradual economic recovery towards the pre-covid levels.

This issue of the Unity Bank digest has a lineup of interesting business and social news for your perusal. They include Nigeria’s Q2’2020 GDP (-6.6%) and how Apple broke its valuation record.

Do enjoy your read!