BusinessDay 22 Oct 2018

Page 1

news you can trust I **MONDAY 22 OCTOBER 2018 I vol. 15, no 166 I N300

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Foreign Reserve - $42.7bn Biggest Gainer Biggest Loser Cross Rates - GBP-$:1.31 YUANY-N52.77 Nestle Dangcem N210 1.94 pc N1370 -2.14 pc Commodities 32,841.69

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364.02 306.50

0.10 12.91

0.25 13.60

0.04

NGUS DEC 26 2018 364.27

Rising population, dwindling jobs put Nigeria on brink of socio-economic crisis LOLADE AKINMURELE

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obs are shrinking in Nigeria, despite a fast rising population, fanning fears that a country on track to becoming the third most populous nation in the world by 2050 is on the brink of a deep socio-economic crisis. In a sign of thinning jobs, companies listed on the Nigerian Stock Exchange (NSE) employ less number of people today than they did nine years ago in 2009 when Bloomberg started tracking the number of people employed by listed firms. Data compiled by BusinessDay from the Bloomberg terminal show that listed firms employed 154,403 people as at the end of September 2018, the Continues on page 46

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15.13

NGUS MAR 27 2019 364.72

10 Y 20 Y 0.02 -0.03 15.29

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NGUS SEP 18 2019 365.62

2019: Uncertainty in CUPP over Obi’s emergence as VP ... as consensus presidential candidate emerges soon OWEDE AGBAJILEKE, Abuja

T L-R: Biodun Adesanya, MD, Degeconek, technical consultants to Polaris Bank Limited; Adetokunbo Abiru, GMD/CEO, Polaris Bank Limited; Amieyeofori Felix, executive consultant, operations, Pan Ocean Oil Corporation (Nigeria) Limited; Seyi Oladapo, CFO, Pan Ocean Oil Corporation (Nigeria) Limited, and Tutu Alu, group head, corporate banking, Polaris Bank Limited, at the facilities tour of Pan Ocean’s flow station and Ovade-Ogharefe Gas Processing Plant II in Delta State.

he joint presidential PDP ticket of Atiku Abubakar and Peter Obi has created uncertainty over moves by the Coalition of United Political Parties (CUPP) to field a single presidential candidate for the 2019 general elections. Both Atiku and Obi are PDP presidential and vice presidential candidate. BusinessDay gathers that while most of the coalition members have agreed to accept Atiku Continues on page 46


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BusinessDay 22 Oct 2018 by BusinessDay - Issuu