Top Nigerian Newspaper Headlines For Today, Wednesday, 21st February, 2024

Good morning Nigeria. Welcome to the Naija News roundup of top newspaper headlines in Nigeria for today, Wednesday, 21st February 2024.

1. President Tinubu To Probe N23 Trillion Way And Means Debt

The federal government of Nigeria, under the leadership of President Bola Tinubu, is set to audit the N23 trillion Ways and Means debt hanging on its neck.

This was made known on Tuesday by the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, during the Public Wealth Management Conference organised by the Ministry of Finance Incorporated (MoFI).

He said the executive arm will soon present a bill to the National Assembly that will authorise the removal of “all taxes and levies that constitute nuisance from the country’s tax system so the government can prevent future Ways and Means indebtedness.

The Minister added that the government will vigorously pursue policies that will allow it to harvest revenue in real time from Government Owned Enterprises (GOEs) and Corporate entities.

2. State Police Bill Scales Second Reading In House Of Reps

The Constitution Amendment Bill to introduce state police has successfully passed the second reading before the House of Representatives.

Naija News reports that the bill, sponsored by 13 members of the House, received overwhelming support from the majority of lawmakers who prioritized addressing the current state of insecurity in the country over concerns of political victimization by state governors.

Recall that President Bola Ahmed Tinubu and 36 state governors had met earlier to deliberate on state police as a viable solution to the prevalent security challenges such as kidnapping and banditry.

Despite being a controversial subject since the Seventh National Assembly, state police have finally made progress in the amendment phase.

Governors from the Peoples Democratic Party (PDP) have reiterated their stance on state policing as the key to improving the country’s deteriorating security situation, warning that Nigeria is heading towards a situation similar to Venezuela.

3. FG Threatens To Open Borders If Cement Manufacturers Refuse To Reduce Their Price

The federal government has described the rising cost of cement in Nigeria as unacceptable and threatened to open the borders in order to force down the price of the product.

The Minister of Housing and Urban Development, Ahmed Dangiwa, who dropped the warning on Tuesday, said key components of cement manufacturing were locally sourced and the recent increase in the price of the product was unreasonable and unacceptable.

He threatened that the government might open the borders for cement importation if manufacturers of the product fail to heed the pleas for a price reduction.

According to him, major input materials for cement production, such as limestone, clay, silica sand, and gypsum, are available and sourced within Nigeria, and hence, the final price of cement should not be dependent on the dollar.

Dangiwa made this known in Abuja at an emergency meeting held with cement and building materials manufacturers.

4. Those Who Couldn’t Get Into Power Are Bent On Plunging Nigeria Into Anarchy – Shettima

Vice President Kashim Shettima has claimed that some forces in the country are planning to disrupt the country’s stability and plunge it into anarchy.

Shettima made the claim on Tuesday while speaking at the Public Wealth Management Conference organized by the Ministry of Finance and the Ministry of Finance Incorporated (MoFI) in Abuja.

According to the vice president, these certain forces failed to attain power through legitimate means and are willing to see Nigeria fall apart for their interests.

He, therefore, believes that the time has come for Nigerians to come together and work towards a better future for their country.

5. President Tinubu Inherited Bad Economy, Rising Food Prices – Edun

The Bola Tinubu government inherited a bad economy and the rising prices of food and commodities from the previous administration.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stated this on Tuesday at a conference in Abuja organised by the Ministry of Finance Incorporated (MOFI).

Edun stated that the Tinubu government is aware of the sufferings of Nigerians and that measures have been put in place to alleviate their suffering.

The minister added that the government is doing its best to bring down the prices of food as well as the soaring inflation rate in the country.

Edun stated that some of the interventions include the release of forty-two thousand metric tons of grains and another sixty thousand metric tons are expected to be released soon.

Naija News learned that the event was to seek ways of managing the nation’s assets and resources for the overall well-being of the people.

6. NARTO Suspends Planned Nationwide Strike

The Nigerian Association of Road Transport Owners (NARTO) has suspended its planned nationwide strike.

Naija News reports that this development came after Monday’s meeting with the Federal Government and stakeholders, following the suspension of operations by tanker drivers who halted the lifting of petroleum products due to harsh economic conditions.

The Federal Government had pledged to address the concerns of oil transporters and distributors to ensure smooth distribution of petroleum products.

The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, made this known in Abuja when he met with some of the oil stakeholders in the downstream sector.

7. NSA Orders Clamp Down On Forex Speculators

In a significant move to stabilize Nigeria’s foreign exchange market, National Security Adviser, Nuhu Ribadu has issued directives to key security and financial enforcement agencies to intensify actions against forex market speculators.

The Nigeria Police Force, the Economic and Financial Crimes Commission (EFCC), the Nigeria Customs Service, and the Nigeria Financial Intelligence Unit have been tasked with curbing the activities of domestic and international speculators operating through various channels.

The directive, communicated by Zakari Mijinyawa, the head of strategic communications in the Office of the National Security Adviser, in Abuja on Tuesday, represents a coordinated effort to protect the integrity of Nigeria’s foreign exchange market.

Ribadu’s intervention comes in response to ongoing challenges in the forex market, where speculative activities have significantly impacted the Central Bank of Nigeria’s (CBN) ability to manage the currency’s value and foster economic growth.

8. Ex-Head Of State, Gowon Rejects FG, ECOWAS’ Invitation To Speak On Bloc Issue

A former Head of State in Nigeria and one of the founders of the Economic Community of West African States (ECOWAS), Gen. Yakubu Gowon, has reportedly declined an invitation to intervene in the ongoing crises within the regional body.

Naija News understands that the Ministry of Foreign Affairs, in collaboration with the ECOWAS Commission, had organized a press conference at the ECOWAS Commission Headquarters in Abuja, scheduled for 12 noon, where Gowon was expected to address the current state of affairs in the region.

Specifically, he was supposed to discuss the issue of coups and the subsequent threat by the Republic of Niger, Mali, and Burkina Faso to withdraw from the organization.

Recall that the military juntas in Burkina Faso, Mali, and Niger had announced their intention to leave ECOWAS on January 28, citing allegations of the regional body being influenced by foreign powers and betraying its founding principles.

During a recent meeting in Abuja, Nigeria, the Mediation and Security Council, MSC, at the ministerial level, encouraged the concerned nations to focus on dialogue and reconciliation.

However, according to Vanguard, Gowon has rejected the invite to speak on the happenings.

9. Labour Party State Chairmen Speak On Suspending Peter Obi From The Party

The 36 state chairmen of the Labour Party (LP) have denied nursing any plan to suspend the party’s 2023 presidential candidate, Peter Obi.

The chairmen debunked the speculations on Tuesday when they paid a solidarity visit to the LP National Chairman, Julius Abure, at the party’s National Headquarters in Abuja.

They said those spreading rumours of plans to suspend Obi are distractors.

Chairman, Council of State Chairmen of the party, Ceekay Igara, who spoke on behalf of his colleagues, also passed a vote of confidence on the Abure-led National Working Committee.

Igara said Obi remains the LP National Leader, and at no time did they contemplate suspending him.

10. NECA Urges FG To Re-evaluate Fuel Subsidy Removal For Socio-Economic Stability

The Nigeria Employers’ Consultative Association (NECA) has appealed to the federal government to review and adjust the removal of fuel subsidies, highlighting subsidies as essential tools for socio-economic stability and growth.

NECA also urged the Federal Government to implement measures to enhance the business environment in the country.

Naija News reports that this statement was issued on Tuesday by NECA’s Director-General, Adewale-Smatt Oyerinde, expressing concern over the country’s increasing unemployment rate.

He warned that the increasing rate may indicate an upcoming unemployment crisis in the country, especially given the current harsh economic conditions.

Oyerinde emphasized the need for the government to cease monetary rationing and ensure the optimal circulation of money to stabilize the economy.

He advocated for a review and moderation of fuel subsidy removal, highlighting the importance of subsidies for socio-economic stability and growth.

Additionally, Oyerinde suggested a re-evaluation of tax projections from the private sector, cautioning against high taxes that could potentially hamper business operations and economic growth.

That’s the top Nigerian newspaper headlines for today. Read more Nigerian news on Naija News. See you again tomorrow.