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Newspaper Headlines: FG may spend N236bn monthly on subsidy for imported, Dangote petrol

Ayodeji.oluwafemi@thecable.ng'byAyodele Oluwafemi
September 25, 2024 7:00 am

The Edo governorship election and petrol pricing continue to dominate the headlines. There is also plenty to unpack from President Bola Tinubu’s speech at the United Nations General Assembly (UNGA). 

The Punch reports that the federal government may spend about N236 billion monthly to subsidise the petrol that is imported through the Nigerian National Petroleum Company (NNPC) and the one that is solely off-taken by NNPC from the Dangote Petroleum Refinery. The newspaper says the organised private sector has expressed fears that the interest rate may worsen bad loans in various commercial banks.
THISDAY reports that former President Goodluck Jonathan said the outcome of the September 21 governorship election in Edo state had shown that technology would not solve Nigeria’s electoral challenges. The newspaper says Aliko Dangote, the founder of Dangote Petroleum Refinery, has advocated the total removal of fuel subsidy, saying it is no longer sustainable.
Daily Trust reports that the Nigerian Army has discharged Ruth Ogunleye from service after she accused Ishiaku Abdulkareem, a colonel, of sexual harassment. The newspaper says the monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), which benchmarks interest rates, from 26.75 percent to 27.25 percent.
Nigerian Tribune reports that the All Progressives Congress (APC) has faulted a report by Yiaga Africa on the September 21 governorship election in Edo state, saying observers should not usurp the roles of the Independent National Electoral Commission (INEC). The newspaper says Binta Nyako, a federal high court judge, has recused herself from presiding over the case of Nnamdi Kanu, leader of the proscribed Indigenous People of Biafra (IPOB).

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