The PUNCH: Federal Government through the Central Bank of Nigeria, has commenced payment of outstanding matured FX forwards owed to various creditors, the PUNCH can report. A source familiar with the development confirmed the payment on Thursday.
The Guardian: Premiere leagues in some jurisdictions globally are money spinners. Players bask in comfort while plying their trade. But in Nigeria, the reverse is the reality, with allegations of state governors using them as “revenue points” for political jobbers. The sheer mockery of club football made by these clubs has led to strident calls for the clubs to sell shares to investors and become publicly quoted companies.
Vanguard: Inconsistent government policies, high annual turnover and cash flow requirements are currently threatening execution of the $155 million Phase 2 of Nigeria’s National Mass Metering Programme, NMMP. The project is a World Bank-funded 1,250,000 metering scheme targeted at procuring and distributing smart electricity meters to 11 electricity distribution companies, DisCos in the country
The Nation: Peoples Democratic Party (PDP) governors yesterday justified their backing of President Bola Ahmed Tinubu’s intervention in the Rivers State political crisis. They explained that the Nigeria Governors’ Forum (NGF) was desirous of the quick resolution of the conflict, adding that the president’s mediation became necessary to prevent its spread to other states.
Daily Trust: Manufacturers have expressed concerns as the price of diesel has risen to N1,275 per litre in Lagos and above N1,300 outside the state, Daily Trust can report. The product is selling for N1, 270 per litre in Kano State and above that outside the metropolis.
