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Newspaper Headlines: 21 states race to hold LG elections after s’court judgment

TheCable 2024/8/21
Newspaper Headlines: 21 states race to hold LG elections after s’court judgment
Daily Trust reports that the Abuja-Kaduna road is yet to be completed six years after the federal government awarded the contract for its reconstruction. The newspaper says Aliko Dangote, Africa’s richest person, says the Nigerian National Petroleum Company (NNPC) Limited now owns 7.2 percent of the refinery over failure to pay the balance of their share.

Reactions to the supreme court verdict on LG autonomy continue to dominate the frontpages of Nigerian newspapers. 

The Guardian reports that 21 states may not receive the next federal allocation if the judgment of the supreme court is implemented. The newspaper says the senate has finalised a bill to tighten the federal government’s grip on Nigeria’s gold reserves.
Vanguard reports that the purchasing power of millions of Nigerians is low owing to the unfavourable economic conditions. The newspaper says a court of appeal in the United Kingdom has dismissed the appeal of Process & Industrial Development (P&ID) on a previous judgment halting the enforcement of its $11 billion award against Nigeria.
Business Day reports that Dangote refinery will roll out petrol in August and get listed on the stock market in the first quarter (Q1) of 2025. The newspaper says the value of corporate bonds issued by Nigerian companies dropped by 98 percent between the last quarter of 2022 and the first quarter of 2024, over high yield demand by the lending public.
Nigerian Tribune reports that Akinwumi Adesina, president of the African Development Bank (AfBD), has faulted the federal government’s decision to suspend duties and taxes on imported food commodities. The newspaper says clearing agents have lamented that in the last five years, importers have lost N248 billion to multiple sampling of imported cargoes by different agencies of government at the Apapa and Tin-Can ports.

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