Read today's newspaper headlines [Monday, May 16, 2016]

For today, May 16 2016:

THE GUARDIAN NEWSPAPER

FG to propose N45,000 wage, meets labour todayThree days to the threatened mass action against government’s increase in the price of petrol, indications emerged yesterday that the Federal Government would meet organised labour today in Abuja over the issue, dangling a carrot before labour leaders. READ MORE

Govt, stakeholders strategise against low tax-to-GDP ratioIrked by a paltry seven per cent tax contribution to the nation’s Gross Domestic Product (GDP), the Minister of Finance, Kemi Adeosun and tax professionals, agreed that the reform of tax laws and revolutionised system of collection is long overdue. READ MORE

UN unveils draft on new urban agenda, sets for quito declarationOn the heels of the submission of Africa’s vision for sustainable urban and human settlements development, the United Nations has released the first draft of the New Urban Agenda, a document aimed at guiding global urbanization policy for the next 20 years. READ MORE

BUSINESS DAY NEWSPAPER

Banks’ Q1 slump shows high oil exposure, FX, limit credit growthThe economic slowdown in Africa’s largest economy, following the sharp and elongated decline in oil prices has shown its face in the massive decline in banks’ quarter one earnings, BusinessDay analysis shows. For the first three months, ending March 2016 the cumulative net income of 13 banks fell by 9.50 percent to N144.24 billion, as… READ MORE

Fresh power crisis as Discos pull plugs on historic debtorsThe nation’s power sector crisis deepened weekend following the mass disconnection of historic debtors by all the electricity distribution companies, DISCOs to protest the huge unpaid electricity bills by this class of consumers. For now, all historic debtors, including residential, commercial, Industrial and government establishments across the three tiers of government would have to find… READ MORE

THE PUNCH NEWSPAPER

Airlines cancel flights over aviation fuel scarcityThe scarcity of aviation fuel, which has affected the industry over the past few days, became worse on Sunday as a number of domestic airlines cancelled their evening flights out of Lagos, while others simply rescheduled them. READ MORE

We’re probing Aregbesola over alleged LG funds diversion – EFCCThe Economic and Financial Crimes Commission may have started investigation into the allegation of diversion of local government funds levelled against the administration of Governor Rauf Aregbesola of Osun State. READ MORE

FG replies Falana on ‘recover $200bn looted funds advice’The Minister of Finance, Mrs. Kemi Adeosun, has said she is attending to the advice by human rights lawyer, Mr. Femi Falana (SAN), asking the Federal Government to focus on recovering about $200bn outstanding revenue instead of obtaining foreign loans. READ MORE

THE NATION NEWSPAPER

Lai Mohammed battles cabal in NBC, othersMinister of Information Lai Mohammed is battling a “corrupt cabal” at the National Broadcasting Commission(NBC), it emerged yesterday. READ MORE

Boko Haram military commander capturedA joint military task force from Cameroon and Nigeria captured Boukar Kaou, a Boko Haram leader, during a raid in which 58 militants died, according to Cameroon’s government. READ MORE

Pressure mounts on unions to shelve fuel price strikeMOVES to avert a massive workers’ strike over the fuel price increase – from N86.50kobo to N145 – began at the weekend. Labour unions are planning to go on strike as from Wednesday to force a reversal of the increase. But the Federal Government is calling for talks to stop the action. READ MORE