Nigerian Newspapers Daily Front Pages Review | Wednesday 9th August, 2023

Naija News looks at the top happenings making headlines on the front pages of Nigeria’s national newspapers today Wednesday 9th August 2023.

The PUNCH: The Economic Community of West African States has imposed heavier financial sanctions on the Niger junta and entities supporting them including the governments of Mali and Burkina Faso. The development came after a diplomatic mission by the African Union, ECOWAS, United Nations and the United States to resolve the political impasse in Niger hit a brick wall on Tuesday as the military junta refused to grant audience to the delegations

The Guardian: As African governments fight to stave off debt distress, experts have expressed fear that a likely default could create a wide hole in the books of Nigeria’s banks and erode their profitability. This comes as checks by The Guardian revealed that First Bank, Zenith Bank, GTCO, Access Corp and United Bank for Africa had a combined N11.84 trillion investment in government securities in 2022 up from N9.99 trillion invested in 2021.

ThisDay: President Bola Tinubu has pledged his readiness to break the vicious cycle of overreliance on borrowing for public spending, and the resulting burden of debt servicing it places on the management of Nigeria’s limited revenues.

The Nation: Nigeria loses N20 trillion yearly to tax gaps, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms Taiwo Oyedele disclosed yesterday. Oyedele gave the figure after President Bola Tinubu inaugurated the committee and charged its members to actualise his administration’s desire to achieve an 18-cent Tax-to-Gross Domestic Product (GDP) ratio within three years

Daily Trust: The Economic Community of West Africa States (ECOWAS) has imposed fresh sanctions over the coup in Niger Republic. President Bola Tinubu who leads the regional body announced this through his spokesman, Ajuri Ngelale, Tuesday.

Thank you for reading, that is all for today, see you again tomorrow for a review of Nigerian newspapers.