Index to Nigerian Newspapers

President Bola Tinubu met with governors of five Nigerian states sharing the border with the Niger Republic at State House, Abuja, to discuss options to restore democratic governance in the troubled republic. The meeting was held at the expiration of the one-week ultimatum handed to the Nigerien coup plotters by the Economic Community of West African States (ECOWAS). Senior security officials criticised the senate for undermining Tinubu's diplomacy by not supporting military action in Niger. ECOWAS' Chiefs of Defence Staff announced that a military action plan for the restoration of democracy in Niger Republic was ready and awaiting approval from the heads of states and government. However, some foreign affairs experts maintain that the planned invasion of Niger remains unpopular and urge key players in the ECOWAS plan to rethink. Eight leading civil society organizations in northern Nigeria cautioned the ECOWAS leadership against economic sanctions and military action in the effort to fix the political impasse in Niger Republic.

President Bola Tinubu yesterday pledged to ensure competition in the oil and gas industry in the country, following a visit by officials of ExxonMobil Nigeria, to the State House in Abuja.

None of the parties at the meeting disclosed details of the issues discussed, but THISDAY recalls that a pending matter which could not be resolved by the Muhammadu Buhari administration was the $1.3bn assets sale imbroglio between the company and Seplat Energy Plc on the one hand and the Nigerian National Petroleum Company Limited (NNPC) on the other.

While the acquisition had been scheduled to be completed in the second half of 2022, with Buhari initially giving approval in August 2022, he reversed the decision after the industry regulator, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disagreed with the takeover. The NNPC insists that it has first refusal rights and has since then blocked the deal between Seplat and ExxonMobil, maintaining that the company has a right to take over the 40 per cent stake for itself.

.Nigeria's naira has declined to N995 to a dollar on the parallel market arm of the foreign exchange market, weaker than the previous day's N990 to a dollar. The naira gained N33 naira on the Investors and Exporters FX window, closing at N738 to a dollar. Nigeria's Finance Minister, Olawale Edun, has said up to $6.8 billion of overdue forward payments need to be addressed before the naira stabilizes.

Dr. Adebisi Osim has been appointed as the 18th president of the Association of Professional Women Engineers of Nigeria (APWEN). She pledges to increase the number of female engineers in Nigeria and promote innovation, inclusivity, and women's empowerment in the engineering field. Osim plans to use the organization's projects to encourage young girls to join the engineering family and emphasizes the association's impact on young girls' lives.

Atedo Peterside, Founder of Stanbic IBTC Bank Plc, has criticised the Independent National Electoral Commission (INEC) for failings during the 2023 presidential election. He argued that the main concern is the damage done to the entire system, not just the winner. Peterside also expressed concern about the future of Nigeria, suggesting President Tinubu should ask INEC about hiding detailed results and broadcasting polling unit by unit.

The governor of Nasarawa State, Speaking on Channels Television, who was Managing Director of African Petroleum about two decades ago, Mr. Mohammed Shehu, expressed support for the removal of fuel subsidy, citing lack of transparency in the scheme. Nigeria’s ailing refineries were built in the 60s, but have since gulped billions of dollars in Turnaround Maintenance, with the expected outcomes mostly disappointing. He recalled that as Managing Director of AP, he stated that the consumption moved to 50 million litres per day, was known by the Nigerian National Petroleum Company Limited. Sule argued that Nigeria had been subsidising petrol for surrounding countries; He stated that subsidy should have been removed in 2015, Sule stated, money was most times released to fix one part, monies released were shared among all the facilities, leading to what he described as “zero work”. “We have not really managed these things well, ” he added. Sule lamented the unavailability of reliable data on Nigeria’s fuel consumption, which he said strengthened the argument for subsidy removal. He statedt “As I am talking to you now, That is what the government is paying. I asked the officials of the NNPC,‘how are you determining this consumption? we are determining the consumption by lifting’. “You are not determining the consumption by actual usage within Nigeria. They have no way of confirming this. He assured that the Dangote refinery would reduce fuel prices, since smugglers will stop buying from the country, yesterday backed the removal of fuel subsidy, citing lack of transparency in the scheme. He disclosed that from January 2022 to date, as subsidy claims was yet to be reconciled by the RMAFC, He identified such projects to include provision of an affordable transport system, and resuscitation of domestic refineries to eliminate dependence on imported fuel, Shehu expressed optimism that when the refinery became operational, which is characterised by opaqueness and other ambiguities..

Nigerian President Bola Tinubu is involved in dredging the Oguta/Orashi River, a project flagged off by former President Muhammadu Buhari and his deputy. Governor Hope Uzodimma of Imo State received a survey report from the Nigerian Navy, and the state is now ready for the second stage, which includes Environmental Impact Assessment.

Senator David Umahi, the Minister of Works, has urged contractors to use concrete technology in road construction due to its durability and affordability. He stated that if contractors continue using asphalt, they will bear the burden if the road fails. Umahi urged contractors to embrace the new technology, as it will help cushion the effect of dilapidated roads in the South-east region due to the terrain. He also discussed the possibility of partnering with the federal government through the Highway Development Initiative (HDMI) to build federal roads in Ondo State. Umahi also emphasized the importance of addressing the economic viability of states that depend on federal roads, stating that if these roads are cut off, it will negatively impact their economies.