Victor EzejaHere are top 20 headlines in Nigerian newspapers today, 25th September 2024, in business and economy, politics, sports and entertainment among others.
1.CBN Raises Benchmark Interest Rate To 27.25%
Join our WhatsApp ChannelThe Central Bank of Nigeria (CBN) has further increased Monetary Policy Rate (MPR), also known as the benchmark interest rate by 50 basis points to 27.25 per cent.
The new rate reflects an 8.5 per cent increase in interest rates. Read more
2. Experts Faults CBN’s Interest Rate Hike
Economic experts have faulted the continuous increase of the Monetary Policy rate (MPR) also known as benchmark interest rate, by the Central Bank of Nigeria (CBN), saying it won’t solve the problem of inflation in the country.
According to them, inflation is mainly caused by issues with supply deficit not as a result of demand.
The CBN governor, Dr Olayemi Cardoso, while briefing newsmen at the end of 297th Monetary Policy Committee (MPC) meeting in Abuja on Tuesday, 24 September, announced that the apex bank has further raised the MPR by 50 basis points from 26.75 per cent to 27.25 per cent. Read more
3. PENGASSAN Urges Nigerian Govt To Increase Stake in Dangote Refinery
The Petroleum and Natural Gas Senior Staff Association of Nigeria has urged the Federal Government to increase its shares in the Dangote Petroleum Refinery from the current seven per cent to at least 45 per cent to enable assurance and energy security.
It said this will ensure further energy assurance and security for the citizens.
4. Unemployment Rises To 5.3% – NBS
Nigeria’s unemployment has risen to 5.3 per cent from 5.0 year-on-year.
This was revealed by the Nigerian Bureau of Statistics, (NBS) Nigeria Labour Force Survey Report.
5. Edo Election: APC dismisses Poll Fraud
The All Progressives Congress (APC) has dismissed allegations that its candidate in the September 21 Edo State governorship election, Senator Monday Okpebholo, did not genuinely win.
This comes as the Peoples Democratic Party (PDP) has rejected the outcome, claiming that the mandate given by the people to its candidate, Asue Ighodalo, was allegedly stolen by the APC. It vowed to retrieve it through court.
However, the APC claimed that the PDP was clearly defeated in the last Saturday’s polls, challenging the party to present evidence to prove its allegations.
6. Police Recover Stolen BVAS During Edo Guber Poll
Two days after the conclusion of the Edo State governorship election, Nigeria Police Force has recovered stolen or illegally acquired Bimodal Voter Accreditation System ( BIVAS) machines and also arrested six persons in connection with election fraud.
Deputy Inspector General of Police, Frank Mba, made this known on Tuesday.
He added that weapons and 58 voters cards that were in unlawful possession of a suspect were also recovered.
7. Residents Flee as Flood Ravages 10 Communities in Kebbi
The National Emergency Management Agency (NEMA), says ten communities have been displaced by flood following heavy rains in Shanga Local Government Area of Kebbi.
Mr Aliyu Shehu-Kafindagi, the Head of Operations of NEMA, Sokoto Office, made this known when he led a joint assessment team to the affected areas on Wednesday.
8. UNGA 79: Nigeria Seeks Debt Forgiveness for Nigeria
Nigeria has called on world leaders to prioritise debt forgiveness for Nigeria and other developing countries from creditors and multilateral financial institutions
The call was made by President Bola Tinubu while addressing world leaders during the General Debate of the ongoing 79th Session of the United Nations General Assembly, at the UN headquarters in New York, United States.
Tinubu, who was represented by the Vice President, Kashim Shettima, said countries of the global South would not make meaningful economic progress without special concessions and a review of their current debt burden.
9. Justice Nyako Recuses Self From Nnamdi Kanu’s Trial
Justice Binta Nyako of the Federal High Court, Abuja has recused herself from the trial of detained leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu.
Justice Nyako expressed her unwillingness to continue with the case on Tuesday at the resumed proceeding in the seven-count terrorism charge the FG preferred against Kanu.
The judge took the decision after Kanu spoke from the dock asking the her to recuse herself from the trial.
Kanu said he no longer has confidence in the court anymore, adding that the judge did not abide by the decision of the Supreme Court regarding the matter.
10. Matawalle Dares Zamfara Gov To Deny Ties with Banditry by Swearing on Quran
Minister of State for Defence, Bello Muhammad Matawalle, has challenged Zamfara State Governor, Dauda Lawal, to swear by the Holy Quran, to prove that he has no link with banditry ravaging the state.
Mattawalle, the immediate past governor of the Northwest state stated this in counter attack to Lawal, who earlier accused him of having ties with bandits operating in the state.
The former governor who said he has sworn by the Holy Quran to prove his innocence in the accusation, called on anyone with evidence linking him to aiding bandits to come forward with proof.
11. CBN’s Interest Rate Hike Will Stifle Investment, Economic Growth – CPPE
The Centre for the Promotion of Private Enterprise (CPPE) has raised concerns about the impact of the latest decision of the Central Bank of Nigeria (CBN) to raise interest rate on investments and economic growth in the country.
The economic think tank said the decision is at variance with what economic players need and the quest for economic recovery and growth. Read more
12. 2025 Budget: FG Sets Objectives, Prioritises Security
The Nigerian Government has outlined some of its major objectives in the 2025 budget with security identified as one of its top priorities.
Director-General of Budget Office of the Federation, Mr. Tanimu Yakubu, gave the insight in Abuja on Tuesday at a meeting with budget officers on preparation of 2025 budget, using the Government Integrated Financial Management Information System Budget Preparation Sub-System, GIFMIS/BPS, for all ministries, departments, and agencies, MDAs.
13. Price of 12.5kg Cooking Gas Rises By 66%
The average retail price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) has increased by 69.15 per cent from N9,194 in August 2023 to N15,552 in August 2024, on a year-on-year basis.
This was revealed in the report released by the National Bureau of Statistics (NBS).
14. Nigerian Govt Targets $1.5bn FDI in 4 years
Nigerian government is targeting $1.5bn foreign direct investment (FDI) from tourism in the next four years.
Minister of Tourism, Lola Ade-John, who made this konwn while speaking at the closing ceremony of the 20th Akwaaba Travel Market in Lagos, said the federal government was determined to unlock the untapped potential in the tourism sector.
According to her, the sector which contributed 3.65% ($17.3 billion) to the country’s 2022 GDP, has vast untapped potential.
15. Dangote Regrets Not Buying Arsenal When on Offer for $2bn
Africa’s richest man, Aliko Dangote, has admitted he has regrets he did not buy English Premier League club Arsenal.
Billionaire Dangote is a big fan of Arsenal and at a time had the chance to pay $2 Billion to own the London Gunners.
Speaking in an interview with Bloomberg, Dangote said he needed money to complete his petrochemical refinery in Lagos at the time the offer to buy the club came. Read more
16. Nigeria’s U19 Women Defeat Zimbabwe in Cricket WCQ in Kigali
The Nigerian Under-19 women campaigning for the sole World Cup slot, upset bookmakers’ favourite Zimbabwe in a hard-fought one-wicket victory yesterday in Kigali, Rwanda.
The Piety Lucky led teenagers had shoved Tanzania aside in their opening match on the heroics of Lillian Ude, who took out five wickets in three overs to emerge the Player-of-the-Match.
17. Leadership failure cause of African problems – Jonathan
Nigeria’s former President, Dr. Goodluck Jonathan, has pointed out that the root cause of conflicts on the African continent is struggle for power.
Jonathan, who spoke at a program organized by the Institute for Peace and Conflict Resolution (IPCR) and partners in commemoration of the International Day of Peace in Abuja, noted that Africa’s conflicts are largely driven by contestation for power.
The former president expressed concern about Nigeria’s situation, stating that until the country develops a culture of peace, political conflicts will persist.
18. Money Laundering Charge: Yahaya Bello Drags EFCC To Supreme Court
Immediate past governor of Kogi State, Yahaya Bello, has dragged the Economic and Financial Crimes Commission (EFCC) to the Supreme Court for declaring him wanted over money laundering allegation.
Bello is facing a 19-count charge the EFCC preferred against him, following his alleged complicity in money laundering, to the tune of N80.2billion.
19. Asuu Threatens Strike, Gives 14-Day Ultimatum
The Academic Staff Union of Universities (ASUU), has given the Nigerian government a 14-day ultimatum to resolve several lingering issues. It said that failure to address the issues would compel to embark on another strike.
The union is demanding the conclusion of the renegotiation of the 2009 FGN/ASUU Agreement, based on the Nimi Briggs Committee’s Draft Agreement of 2021, and the release of withheld salaries due to the 2022 strike action.
20. EFCC Probes Bobrisky’s Allegations Against Officers
The Economic and Financial Crimes Commission (EFCC) has invited Controversial crossdresser, Idris Okuneye, popularly known as Bobrisky for questioning on the allegations he made that some officers of the Commission compelled him offer N15 million. 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.
