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Newspaper Headlines: Marketers propose N720/litre for petrol as naira continues free fall

Ayodeji.oluwafemi@thecable.ng'byAyodele Oluwafemi
August 14, 2023 7:00 am

Reports on the proposed hike in the price of petrol per litre and the free fall of the naira against the dollar, dominate the cover pages of Nigerian newspapers.

The Punch reports that oil marketers have indicated that the price of petrol would rise to between N680/litre and N720/litre in the coming weeks should the dollar continue to trade from N910 to N950 at the parallel market. The newspaper says the military junta in Niger Republic has finally agreed to discuss with the Economic Community of West African States (ECOWAS) to resolve the political crisis in the Francophone country.
The Guardian reports that the investigator appointed by President Bola Tinubu has started to question officials of the Central Bank of Nigeria (CBN), Nigerian Security Printing and Minting Company Limited and Nigeria Inter-Bank Settlement Systems. The newspaper says Tunde Bakare, the overseer of the Citadel Global Community Church, has asked Tinubu to reconsider his economic policies and reforms in order not to plunge Nigerians into more hardship.
Vanguard reports that the National Judicial Council (NJC) has dismissed a letter claiming it had surrendered its statutory powers and functions on judges’ appointments and promotions to state governors. The newspaper says Godwin Obaseki, governor of Edo, has accused his deputy governor, Philip Shaibu, of manipulating the election of the National Youth Council of Nigeria (NYCN), Edo state chapter.
Daily Independent reports that experts said the policy of the naira float may crash in a short time owing to the inflation and the free fall of the currency against the dollar. The newspaper says there is discontent at the Nigerian Col­lege of Aviation Technology (NCAT), Zaria, over the ‘missing’ two trainee helicopters acquired for the college by the federal government in 2010.
Nigerian Tribune reports that the Arewa Economic Forum has lamented the huge financial loss faced by Nigerians due to the closure of the Nigerien border with Nigeria. The newspaper says the Central Bank of Nigeria (CBN) has threatened to clamp down on banks engaging in illegal sale of foreign exchange.

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