Top Nigerian Newspaper Headlines For Today, Tuesday, 5th March, 2024

Good morning Nigeria. Welcome to the Naija News roundup of top newspaper headlines in Nigeria for today, Tuesday, 5th March 2024

1. Tinubu Returns To Nigeria From Qatar

President Bola Ahmed Tinubu has returned to the country after a two-day State visit to Qatar at the invitation of the Emir, Sheikh Tamim bin Hamad Al Thani.

Naija News had reported earlier that the Nigerian leader left the Presidential wing of the Doha International Airport on Monday morning and arrived at the Nnamdi Azikiwe International Airport, Abuja, in the evening.

Tinubu, who arrived around 6:37 pm, was received on arrival by senior government officials led by Vice President Kashim Shettima.

Other officials who received the President include his Chief of Staff, Femi Gbajabiamila; the Minister of the Federal Capital Territory (FCT), Nyesom Wike; the National Chairman of the ruling All Progressives Congress (APC), Abdullahi Ganduje; and Director General of the Department of State Service (DSS) Yusuf Bichi.

During his visit to the Arabian nation, the President met with investors at the Nigeria-Qatar Business and Investment Forum in Doha on Sunday.

President Tinubu and His Highness, Sheikh Tamim bin Hamad Al Thani, Emir of the State of Qatar, also presided over the signing of landmark agreements between Nigeria and Qatar.

Tinubu also witnessed the signing of various bilateral agreements concerning critical sectors of education, enterprise development, investment promotion, youth empowerment, mining, tourism, and sports.

2. Your Protest Over Economic Hardship Was Unpatriotic – Umahi Fires NLC

The Minister of Works, David Umahi, has slammed the Nigeria Labour Congress (NLC) for embarking on a two-day nationwide protest over the economic hardship in the country.

Speaking on Monday while inspecting the Enugu-Port Harcourt road, Umahi said it was wrong for the NLC to embark on strike four times within nine months.

The former Governor of Ebonyi State said the action of the labour union doesn’t show patriotism, and that they understand the problems facing the country.

Umahi stated that the Bola Tinubu administration is working hard to address the challenges bedevilling the nation.

The minister said the issue of hunger has always been frequent in the country, even during past administrations.

He, therefore, urged Nigerians to be patient and support the economic reforms of the federal government.

3. ‘It Is Wickedness For One Man To Produce Cement In Nigeria’ – Monarch Charges Tinubu

The Ovie of Idjerhe Kingdom, HRM King Obukohwo Monday Whiskey JP, Udurhie I, amid the escalating prices of cement in Nigeria, has made a passionate appeal to President Bola Tinubu for the reopening of the shuttered Madewell Cement factory located in Idjerhe.

In a conversation with Vanguard on Monday, the monarch also urged the renewal of licenses for all cement producers whose permits had been revoked, highlighting the need for a more competitive and efficient economy in the cement production sector.

The king expressed his concerns over the monopolistic tendencies in the cement industry, describing it as “wickedness for only one person to be at the forefront in the production of cement in Nigeria.”

4. CBN’s New Monetary Policy Won’t Lead To Economic Growth – Obaseki

Governor Godwin Obaseki of Edo State has flayed the Central Bank of Nigeria for raising the Monetary Policy Rate (MPR) by 22.75 per cent amidst the economic hardship in the country.

Obaseki stated that the Apex bank’s decision will further worsen the country’s ongoing economic challenges.

The governor made this known in a speech as a guest speaker during the Annual Dinner of Edo Zone Bankers Committee in Benin City, the state capital.

Recall that the Monetary Policy Committee of the CBN had raised the benchmark interest rate by 400 basis points to 22.75%.

The CBN Governor, Olayemi Cardoso, revealed this during the announcement of the first MPC meeting of the year in Abuja last Tuesday.

According to the Edo governor, the increase in the MPR will not lead to fundamental and fiscal growth in the economy.

Obaski said the government must focus on increasing production, ensuring citizens produce the goods and services they consume and depend less on imports.

5. Tinubu Inherited An Economy Where Crude Oil That Had Not Been Taken Out Of The Ground Was Already Sold – Mutfwang

The Governor of Plateau State, Caleb Mutfwang, has said that former President Muhammadu Buhari left a poor economy for President Bola Tinubu.

The governor stated this while speaking during the swearing-in of 22 Special Advisers and heads of other government agencies appointed by his administration on Monday.

He claimed that Tinubu inherited the worst performing economy since the country started its democratic experiment in 1999.

6. Hardship: Minister Says Looting Of FCT Warehouse Is Criminal Act, Insists Suspects Will Face Trial

The Minister of State for the Federal Capital Territory (FCT), Mariya Mahmoud, has described the Sunday looting of a warehouse in the Gwagwa-Tasha neighbourhood of Abuja as a criminal act.

Speaking during an assessment visit to the looted warehouse in Gwagwa-Tasha on Monday to determine the extent of the warehouse’s damage, the minister threatened to prosecute the residents involved in the incident, emphasizing that the looting went beyond hunger.

Mahmoud, while speaking with reporters, narrated the tragic situation detailing that hoodlums stole all of the grains and other food items, along with the warehouse’s roofs and fence.

Naija News reports that the minister vowed that the FCT Administration will install police posts in all government warehouses throughout the territory moving ahead.

“We are here due to the unfortunate incident that happened early hours of yesterday, where hoodlums attacked this very warehouse and packed everything that is here, including the fence.

“Not only the food items that are here, including the roofing, windows, and even the gates of this place and offices were all attacked,’’ the minister said.

She mentioned that the incident happened as the FCT Administration was stocking its warehouses in order to comply with the president’s order to distribute palliative care to each of the territory’s six area councils.

7. Keyamo Speaks On Plan To Move Firefighting Equipment To Lagos

The Minister of Aviation and Aerospace Development, Festus Keyamo (SAN), has refuted the claim that there is a plan to move a firefighting simulator out of the Nigerian College of Technology, Zaria, to Lagos State.

The minister made this in a statement on Monday issued by his Special Adviser on Media and Communication, Tunde Moshood.

Keyamo described the claim that the government is planning to relocate the firefighting equipment to Lagos as the handiwork of mischief makers.

The minister, however, urged the public to disregard any such rumour because it amounts to grandstanding by anyone still trying to make political gains out of nothing.

8. CBN Sells N1 Trillion Fed Govt Securities

The Central Bank of Nigeria (CBN) has said it successfully concluded a sale of government securities, issuing 1.053 trillion ($680 million) in short-term instruments.

The apex bank made this known in a statement on Monday by its acting Director, Corporate Communications Department, Hakama Sidi-Ali.

The CBN said the sale, which occurred on March 1, 2024, was part of its liquidity management exercise.

In a statement on Monday, the regulator said the 500 billion offered at the open market operations (OMO) auction was oversubscribed, selling 1.053 trillion.

According to the apex bank, 79 per cent of the total bids, or the equivalent of $530 million, came from foreign investors.

It is understood that the Friday auction was the first since the CBN’s monetary policy committee (MPC) meeting, which was followed by a virtual meeting with foreign portfolio investors.

The bank said Olayemi Cardoso, its governor, used both meetings to set a detailed strategy to curb inflation, stabilise the exchange rate, and spur confidence in the banking system and economy.

9. Hardship: ‘This Is A Message To Tinubu’ – Adegboruwa Speaks On Looting Of Abuja Warehouse

A Senior Advocate of Nigeria, Ebun-Olu Adegboruwa, has described Sunday’s looting of a government warehouse in Abuja as a reflection of the frustration of the majority of Nigerians grappling with the economic policies of President Bola Tinubu’s administration.

Naija News reported that Abuja residents looted a warehouse belonging to the Federal Capital Territory (FCT) Department of Agriculture on Sunday.

The warehouse was raided by the residents who carted away foodstuff and other items.

Speaking on Channels Television’s breakfast show, ‘The Morning Brief’, on Monday, Adegboruwa said the looting is a message to the President and his economic team that there is a need to rejig the system to guarantee the survival of Nigerians.

10. Police Reiterate Ban On Use Of PoS, Other Electronic Money Transaction Devices In Police Stations

The Nigeria Police Force has reiterated the ban on the use of Point of Sales (PoS) machines and other electronic transaction devices in police stations and other facilities of the force.
Reiterating the ban in a statement seen by Naija News on Monday, police spokesperson, Olumuyiwa Adejobi lamented that despite previous directives banning the use of PoS in police facilities, some Commands and Formations continue to flout this regulation

Adejobi explained that the ban followed complaints on alleged illegal and illicit transactions through point-of-sale (POS) machine operators and connivance with certain police operatives.

He detailed that the decision was taken to preserve the integrity of the police force and to forestall perceived corrupt practices.

Adejobi further disclosed that the Inspector General of Police, Kayode Egbetokun warned that any violation of this ban will attract severe sanctions on the leadership of the affected Commands and Formations.

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