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Newspaper Headlines: Global banks to inject $7.5bn into Nigeria’s power sector

Ayodeji.oluwafemi@thecable.ng'byAyodele Oluwafemi
July 23, 2024 7:00 am

Conversations on the planned nationwide protest billed to commence on August 1 suffuse the frontpages. 

The Punch reports that marketers have projected that the monthly subsidy on petrol has increased to N700 billion. The newspaper says the federal government has proposed the imprisonment of principal officers of banks who refuse to comply with the one-time windfall tax on banks’ foreign exchange profits in 2023. There is also a report on the injection of $7.5 billion into Nigeria’s power sector. 
The Guardian reports that over 30,000 jobs have been lost to closure of manufacturing companies in Nigeria in the last four years. The newspaper says the Nigeria Labour Congress (NLC) has asked the federal government to address the current hardship in the country amid the planned nationwide protest. 
Daily Trust reports that Heineken Lokpobiri, minister of state for petroleum resources (oil), has intervened in the conflict between Aliko Dangote and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). 
Nigerian Tribune reports that some groups have raised concerns over a bill seeking the establishment of a local government electoral commission, saying it violates the principle of federalism. The newspaper says Godwin Obaseki, governor of Edo, has threatened that there will be national crisis in the country if the All Progressives Congress (APC) does not allow free and fair elections in Edo.

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