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Find out what is making headlines all over the country from the covers of The Punch, Vanguard, The Guardian and more.

For today, May 24 2016


Why Buhari cancelled Lagos trip
Amidst speculations on why President Mohammadu Buhari cancelled his scheduled official visit to Lagos, the presidency yesterday insisted it had nothing to do with an illness. It maintained its official position that scheduling difficulties led to the postponement. READ MORE

NEITI alleges N2.23tr fraud in NNPC
The Nigeria Extractive Industries Transparency Initiative (NEITI) yesterday revealed how the Nigerian National Petroleum Corporation (NNPC) and its sub-units either lost or refused to remit a total of N2.23 trillion, consisting of $9.75 billion and N378.67 billion, to the federation account as earnings from various aspects of its operations in 2013. READ MORE

Nigeria requires N5.7tr investment to recoup losses from oil production slide
Unless the Federal Government and investors in the nation’s oil and gas sector invest about $29 billion (about N5.7 trillion) between now and 2019, the country’s crude oil production may decline from its present state of two million to 300,000 barrels per day. READ MORE


Fani-Kayode to spend three more weeks in custody
The Economic and Financial Crimes Commission has transferred a former Minister of Aviation, Chief Femi Fani-Kayode, to its Lagos office. READ MORE

IG warns PDP factions as Makarfi woos Mantu
Intelligence indicates that some aggrieved factional leaders of the  PDP have perfected plans to engage thugs to join them in threatening public peace and security in Abuja – Police READ MORE

Reps panel okays FRSC’s speed limiters
The House of Representatives Committee on Federal Road Safety Commission has endorsed the move by the Federal Road Safety Corps to introduce speed limiting devices on vehicles in the country as part of measures to curb road crashes. READ MORE


Discos, Gencos to boost Capex as new funding derisks sector
Renewed funding commitments for Nigeria’s struggling power utilities should help catalyse new capital investments as the sector gradually gets derisked. The 2013 privatisation of the power sector was constrained by lack of market reflective tariffs in the distribution sector, gas to power challenges exacerbated by vandalism of power assets, circular debt that caused illiquidity in… READ MORE

Retail spending slumps as economy slows
Retail spending in Nigeria has slowed considerably especially in the luxury segment as an economic downturn leaves consumers with stretched pockets. A number of mall operators have also cut back on staff, while those who could not stand the heat have closed their shops permanently, BusinessDay investigations show. A survey by BusinessDay in some Lagos… READ MORE

Forex: FG to work out palliative package for manufacturers, says Osinbajo
The Federal Government says it is working out a palliative package to assist the manufacturing subsector navigate through difficulty accessing foreign exchange for importation of critical components of their production. President Muhammadu Buhari, represented by Vice President Yemi Osinbajo, stated this on Monday, in Lagos, at the handing over of vehicles and other security equipment… READ MORE


Wike to CDS: Southsouth governors ‘ll fish out pipeline bombers
Rivers State Governor Nyesom Wike assured yesterday of the readiness of South-South governors to assist in fishing out pipeline bombers in the area. READ MORE

Jonathan: I’m not on exile
Former President Goodluck Jonathan has dismissed a report that he is on exile in Cote d’Ivoire. The report, published yesterday by a national newspaper, claimed that Dr. Jonathan had been given asylum in that Francophone country. His associates were alarmed at the report. READ MORE

Buhari seeks understanding
President Muhammadu Buhari yesterday urged Nigerians to support his administration, despite the economic hardship they are going through. READ NOW


NNPC, Shell, Total, Mobil, others fleeced Nigeria of $4.4bn — NEITI
ABUJA — The Nigerian Extractive Industries Transparency Initiative (NEITI), yesterday, accused the Nigerian National Petroleum Corporation, NNPC, and other oil and gas companies of shortchanging the country and failing to remit $4.4 billion and N358.3 billion to the Federation Account in 2013. READ NOW

Jonathan denies self exile bid to Cote d’Ívoire
FORMER President, Dr. Goodluck Jonathan insisted, yesterday, that he is not on self-exile in Côte d’Ivoire as alleged, even as friends and family asserted that he had no cause to permanently relocate from the country. READ MORE

Pomp, as Osinbajo stands in for Buhari on working visit
Lagos residents  yesterday rolled out the drums to meet one of their own, Vice President Yemi Osinbajo, who was a last minute replacement for his boss, President Muhammadu Buhari, on a working visit to the centre of excellence. READ MORE

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