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NEWS YOU CAN TRUST I **THURSDAY 20 DECEMBER 2018 I VOL. 15, NO 207 I N300
ECONOMY
More job losses loom as manufacturers struggle to pass cost to consumers
…as energy, raw materials, logistics cost soars BALA AUGIE & ODINAKA ANUDU
M
anufacturers could embark on job cuts next year in order to protect slim margins as they increasContinues on page 46
Inside
Apapa: NPA reacts to P. 47 BusinessDay Editorial, clarifies on efforts in addressing gridlock
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Buhari presents N8.6trn 2019 budget as 20.93m Nigerians now unemployed KEHINDE AKINTOLA & OWEDE AGBAJILEKE, Abuja, DIPO OLADEHINDE, MICHEAL ANI, BUNMI BAILEY & ISRAEL ODUBOLA, Lagos
I
t was a mix of jeers and cheers on the floor of the National Assembly yesterday as President Muhammadu Buhari presented a N8.8 trillion spending plan which he said is aimed at placing
Earmarks $1bn for fuel subsidy in 2019 Misery index now 34.38
“the economy on the path of inclusive, diversified and sustainable growth in order to continue to lift significant numbers of our citizens out of poverty.”
Earlier yesterday, the National Bureau of Statistics (NBS) released the latest unemployment data showing that 20.93 million Nigerians are actively
searching for jobs but cannot find any to do. The NBS data shows that the Continues on page 46
State of health in Nigeria
Dr Femi Olugbile is an acclaimed physician, health administrator and writer. An astute psycho-profiler, he was for nine years chief medical director of Lagos State University Teaching Hospital, which he built into a first-class health facility. He has also served as permanent secretary of the ministry of health. P. 26
L-R: Seyi Kumapayi, group chief finance officer; Roosevelt Ogbonna, group deputy managing director; Herbert Wigwe, group managing director/CEO, all of Access Bank plc, and Uzoma Dozie, group managing director, Diamond Bank plc, at a press conference on the proposed merger between Access Bank and Diamond Bank in Lagos, yesterday. Pic by Olawale Amoo