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Here are top 10 stories in Nigerian newspapers today 2nd September on business and economy, politics, sports, health and entertainment.
1. NNPCL Admits Financial Strain Amid Rising PMS Supply Costs
Nigeria National Petroleum Company Limited (NNPCL) is facing significant financial pressure due to rising Premium Motor Spirit (PMS) supply costs.
Join our WhatsApp ChannelThis situation is putting a strain on the company’s ability to maintain a stable fuel supply, raising concerns about the sustainability of fuel availability across the country. Read more.
2. Why NNPCL Should Be Listed On Stock Market – Atiku
Former Vice President, Atiku Abubakar, has highlighted the need for the Nigeria National Petroleum Company Limited (NNPCL) to be listed on the Nigerian Stock Exchange. Read more
3. No End in Sight as Petrol Scarcity Persists
There are concerns that there is no end in sight for the current petrol scarcity ravaging the country. This is as NNPCL, the sole importer of petrol, admitted being indebted to petrol suppliers to the tune of $6 billion.
Oil marketers have also said that due to the high foreign exchange rate of N1500/$ which has increased the price of the product to more than N1,100 per litre, they have not been able to import the product.
4. Retirees Receive N500 Monthly Pension, NUP Laments
The Nigerian Union of Pensioners (NUP), has lamented over the “pathetic” condition of public sector retirees, saying that some of them still receive N500 as monthly pension.
Secretary of the union in Kaduna state, Alhassan Musa, had said that most of these affected retirees have “sacrificed their lives and services for the nation” yet they were in deplorable conditions.
5. Report Shows 27% of Nigerian men Not Biological Fathers
A report by a leading DNA testing centre in Lagos, Smart DNA, has shown that paternity fraud remained high.
According to the report, 27 per cent of the tests conducted came out negative which indicates that more than one in four men tested are the biological fathers of the children in question.
6. BUA Foods Set to Build 4 new Wheat Milling Factories
BUA Foods Plc is set to build four new wheat milling factories with a capacity to mill up to 3200 tons daily as it signs a deal with IMAS, a Turkish milling equipment manufacturer.
This was disclosed in a statement by the company on NGX which was signed by the Director of Marketing and Communications, Adewunmi Desalu.
7. Oil Experts Reveal Way Forward for Future of Nigeria’s Energy
Experts in the oil and gas industry had mapped out way forward for the future of Nigeria’s energy sector.
Managing Director, Shell Nigeria Gas, Mr Raph Gbobo, who spoke at 2024 Nigerian-British Chamber of Commerce (NBCC) event in Lagos last week, explained that in order to secure the future of Nigeria’s energy, it would involve making strategic choices that would change the path of the nation in the long term.
8 High Interest Rate Major Challenge for Consumer Goods Manufacturers
High interest rates charged by banks and other lending institutions have posed a big challenge for manufacturers of consumer goods.
The companies’ combined borrowings have risen to N2.5 trillion in the first half of the year, H1’24. This indicates about 77.8% rise in borrowing against the N1.7 trillion borrowed in the corresponding period of 2023, HI’23
9. Law firm threatens class Action Against British Airways
A law firm, Sovereignty Legal Practitioners, has threatened to file a class action against British Airways over its alleged inhuman treatment to Nigerian passengers.
In a pre-action letter by its Principal Partner, Ife Ajayi sent to the airline, dated 30 August 2024, the law firm said it will file a class action against the airline if the practice of persistent disruption of scheduled flight to Nigeria caused by deployment of substandard and faulty aircraft to Nigerian route is not checkmate.
10. Paris 2024: Nigeria wins first medal
Nigeria wins its first medal as Maria England Badmus has won the Paralympic Games in the Para badminton Women’s singles SL3 event.
She beat Kozyna Oksana of Ukraine 21-9 in the bronze medal match this morning.
