Nigerian Newspapers: Top 10 Business Stories Set Off Your Thursday

Top 10 Stories From Nigerian Newspapers Today, 9th June 2023

10 months ago
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Here we present to you the top 10 stories from across Nigerian newspapers today, 9th June 2023, on business and economy, politics and entertainment.

1. 10th Assembly: Tinubu Urges Lawmakers-elect to Support Akpabio, Tajudeen

President Bola Ahmed Tinubu has appealed to lawmakers-elect to abide by the zoning arrangements announced by the National Working Committee of the All Progressives Congress (APC) during election of principal officers of the 10th National Assembly.

Tinubu and the party announced their choice for Senator Godswill Akpabio from Akwa Ibom as Senate President and Tajudeen Abbas as Speaker, House of Representatives. Read more


2. NNPCL Fails to Remit N8.4tn into Federation Account in 17 Months, RMAFC Reveals, Backs Subsidy Removal

The Revenue Mobilization Allocation and Fiscal Commission (RMAFC) has said that the Nigeria National Petroleum Company Limited (NNPCL) withheld the sum of N8.480 trillion from the Federation Account between January last 2022 and May 2023.

The Commission’s chairman, Mr Mohammed Shehu, who made this known in a statement in Abuja, said the subsidy regime was not transparent.

According to Shehu, the decision to end subsidy was the best for the country as the sum remained unreconciled.

He added that the removal of fuel subsidies would eliminate the alleged uncertainty surrounding the subsidy regime and free funds for the execution of critical national development projects.

3. Tinubu Signs Into Law Bill Raising Judges’ Retirement Age to 70

President Bola Tinubu on Wednesday signed into law, the amendments to the 1999 constitution of the Federal Republic of Nigeria.

Part of the reforms was on uniform retirement age and pension rights for judicial officers.

The law extends the retirement age of high court judges and others from 65 to 70 years.

According to a statement by Abiodun Oladunjoye, state house director of information, the president pledged that his administration would strengthen the judiciary and empower judicial officers.

4. Fuel Subsidy: Private Investments, CNG Will Lower Petrol Prices – IPMAN

The Independent Petroleum Marketers Association of Nigeria has assured that the price of Premium Motor Spirit also known as petrol will drop as private investors come into the oil sector to boost production and supply.

This was disclosed at a press conference organised by the National President of the association, Chinedu Okoronkwo, in Abuja on Wednesday.

Okoronkwo restated the support of marketers for the removal of subsidy on petrol.

The IPMAN president said the association has decided to use Compressed Natural Gas as an alternative energy source to cushion the effect of subsidy removal, adding that its adoption will serve as an alternative fuel that would bring a better and long-lasting solution to the constant fluctuation in the price of petrol in the global market.

He further said they would key into the CNG conversion programme earlier agreed upon with Labour centres in 2021 and work out detailed implementation and timing.

5. Enugu Governor, Mbah, Meets Tinubu, Pushes for Nnamdi Kanu’s Release

Enugu State Governor, Peter Mbah, has again called on President Bola Tinubu to release Nnamdi Kanu, the detained leader of the Indigenous People of Biafra (IPOB).

Mr Mbah made the appeal on Thursday when he visited Mr Tinubu at the Presidential Villa in Abuja.

The governor had last week issued order banning the Monday’s sit-at-home being observed in the state since September 2021 as enforced by purported members of IPOB in protest of the continued incarceration of Kanu.

He urged the residents of the state to resume their normal activities on Monday, adding that the sit-at-home exercise has led to huge economic losses in the entire Southeast region.


6. Nigeria Air: Arewa Group Demands Arrest, Prosecution of Sirika

The Concerned Northern Forum has called for the arrest and prosecution of the immediate-past Minister of Aviation, Hadi Sirika, over his alleged complicity in the Nigeria Air fraud.

The group made the call in a statement released on Thursday by its chairman, Ali Muhammad, who asked the Economic and Financial Crimes Commission to wade into the matter and prosecute the ex-minister of Aviation.

The call came after the House of Representatives Committee on Aviation described Nigeria Air project as a fraud following their findings.

The Managing Director of Nigeria Air, Dayo Olumide, had disclosed that the purported Nigeria Air’s aircraft that landed at the Nnamdi Azikiwe International Airport, Abuja, on May 26, 2023, was a chartered flight from Ethiopia Airlines.

The House of Representatives committee on Aviation also charged the Federal to suspend the project and launch comprehensive investigation into what transpired.

7. 5G Deployment Raised Telecoms GDP Contribution to N2.51tn – NCC

The telecommunications sector contributed N2.51 trillion which represents 14.13 per cent, in terms of financial value contribution to Nigeria’s Gross Domestic Product (GDP) in the first quarter of 2023.

One of the key drivers of this performance according the Nigeria Communications Commission (NCC) was due to the deployment of 5G technology which generated $820.8 million for the Federal Government from 5G spectrum licences fees paid by threeoperators – MTN, MAFAB, and Airtel – that won the final biddings.

8. Tinubu, APC Oppose INEC Staff Testifying in Atiku’s Petition At Tribunal

The All Progressives Congress (APC) and President Bola Tinubu on Thursday opposed the move by the presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar to engage an ad-hoc staff of the Independent National Electoral Commission (INEC) to give evidence in his petition challenging the outcome of the February 25 presidential election.

9. BVAS Didn’t Transmit Presidential Election Result – INEC Ad hoc Staff Tells Court

Two witnesses of the Peoples Democratic Party (PDP) and its candidate, Atiku Abubakar, on Thursday, told the Presidential Election Petition Court (PEPC) that the Bimodal Voter Accreditation System (BVAS) failed to transmit the results of the election after the collation.

The witnesses, Friday Egwuma and Grace Timothy both ad-hoc staff of the Independent National Electoral Commission (INEC) said the BVAS machine allocated to them developed system error after the results of the Senate and House of Representatives aspects of the poll were freely transmitted.

10. Senator Annie Okonkwo Dies At 63

Former Senator representing Anambra Central Senatorial District at the National Assembly, Chief Annie Okonkwo, has passed on at the age of 63.

The ex-lawmaker and business mogul died in the United States after a battle with lung cancer. Read more

Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.


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