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Newspaper Headlines: Nigerians face blackout as gas producers cut supply to GenCos over N2.7trn debt

Ayodeji.oluwafemi@thecable.ng'byAyodele Oluwafemi
December 12, 2024 7:00 am

Reports on the collapse of the national grid for the umpteenth time dominates the frontpages of Nigerian newspapers. 

The Punch reports that gas-producing companies have abruptly stopped the supply of natural gas to power generation companies over mounting debts. The newspaper says the Association of Senior Staff of Banks, Insurance, and Financial Institutions has blamed the worsening cash scarcity in the country on the inability of the Central Bank of Nigeria (CBN) to meet cash demands of commercial banks.
The Punch reports that the house of representatives has mandated its committees on customs and excise, alongside defence, to jointly investigate the operations and activities of the Nigeria Customs Service (NCS) over alleged complicity in aiding smuggling and involvement in brutality against Nigerians. Danlami Saku, chairman of Katcha LGA in Niger state, died in a road accident, the newspaper says.
The Guardian reports that the season of mass defection is fast heating up as politicians begin realignment ahead of the 2027 election. The newspaper says Muhammad Sanusi II, the Emir of Kano, has assured residents that the emirate council will ensure the peaceful transport of their district head, Munir Sanusi Bayero, to Bichi.
The Nation reports that Mohammed Idris, the minister of information, said funds saved from petrol subsidy removal are being used to execute high-impact projects and schemes. The newspaper says Taiwo Oyedele, chairman of the presidential committee on fiscal policy and tax reforms, said the national assembly does not have provisions that are in conflict with the statutory functions of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC).

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