Good day, good citizens of Nigeria. Here are headlines from Nigerian Newspapers that may interest you today, Wednesday, January 26, 2022.
1. PIA in limbo as subsidy stays for 18 months [Vanguard Newspaper]
The Federal Government has explained that the reason for the extension of complete removal of fuel subsidy was as a result of President Mohammadu Buhari’s insistence that all the necessary structures must be put in place to cushion the impact of the removal on the citizens.
The decision is likely to take out about N2.5 trillion from the Federation Account to fund the subsidy for the 18 months duration, going by the 2021 subsidy cost put at N1.7 trillion by the Nigerian National Petroleum Corporation, NNPC.
2. 91m Nigerians fall below poverty line – NESG [Vanguard Newspaper]
The Nigerian Economic Summit Group, NESG says 91 million Nigerians now live below the poverty line.
The Chairman of the Group, Mr. Asue Ighodalo, disclosed this at the launching of the 2022 Macro-Economic Outlook of the Group, in Abuja.
3. Subsidy: NNPC may deduct over N1tn from FAAC in six months [Punch Newspaper]
The Nigerian National Petroleum Company Limited may deduct over N1tn in the next six months from the Federation Accounts Allocation Committee, following the decision of the Federal Government to continue subsidising Premium Motor Spirit, popularly called petrol.
Figures obtained from the oil firm on its subsidy deductions in 2021 indicated that the amount deducted monthly from FAAC by the NNPC was higher during the periods of higher crude oil prices.
4. 2023: Atiku will step down for South-East president in 2027 if elected — Dokpesi [NewsWireNGR]
Chief Raymond Dokpesi has claimed presidential hopeful, Alhaji Atiku Abubakar if elected will step down in 2027 for South East to produce president if elected into Aso Villa in 2023.
Dokpesi who is the leader of the technical committee for Atiku said he (Atiku) is the best to defeat any candidate fielded by the ruling All Progressive Congress.
In his argument, Dokpesi said that the PDP had to give the North another chance to complete its fours years in the presidency to wrestle power from the APC in 2023. Read more.
5. NURTW operations suspended in some areas of Lagos [NewsWireNGR]
Lagos State Government, on Tuesday, announced the suspension of the National Union of Road Transport Workers (NURTW) activities at Eyin Eyo, Church Street and Idumota Bridge, in Lagos Island, indefinitely following violence in the areas.
The development was announced by the Special Adviser to the governor on transportation, Oluwatoyin Fayinka during a stakeholders meeting on Tuesday held at Alausa, Ikeja. Read more.
6. Labour suspends Jan 27 petrol subsidy removal protest [NewsWireNGR]
The Nigeria Labour Congress (NLC) has announced the suspension of the January 27 protest over the federal government initial move to suspend petrol subsidy.
This was announced by the organised labour president, Ayuba Wabba while addressing journalists at the Labour House in Abuja. Read more.
7. Aliko Dangote tops Forbes’ 2022 Africa’s Richest [NewsWireNGR]
Nigerian billionaire Aliko Dangote has topped the 2022 list of Africa’s richest persons for the 11th year in a row, Forbes magazine said in a report.
Dangote’s wealth jumped from $12.1 billion last year to an estimated $13.9 billion.
Forbes attributed the growth to a 30% increase in the stock price of Dangote Cement, his most valuable asset. Read more.
8. How eNaira is doing 3 months on — Emefiele [NewsWireNGR]
Mr Godwin Emefiele, Governor, Central Bank of Nigeria (CBN) says Nigerians are gradually adopting the eNaira, launched three months back.
Emefiele said this while answering questions from members of the press after presenting the outcome of the two-day Monetary Policy Committee (MPC) meeting on Tuesday in Abuja.
The MPC, at the meeting, retained the country’s Monetary Policy Rate (MPR) at 11.5 per cent. and also unanimously agreed to retain all other monetary policy parameters.
The Cash Reserved Ratio (CRR) was, thus, retained at 27.5 per cent, Liquidity Ratio, 30 per cent and Asymmetric Corridor, +100 and -700 Basis Points around the MPR. Read more.
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