Read today's newspaper headlines [Tuesday, May 3, 2016]

For today, May 2 2016:

VANGUARD NEWSPAPER

2016 budget: NASS slashes padding from N500bn to N75bnABUJA — President Muhammadu Buhari is warming up to receive a reworked copy of the 2016 budget any time this week from the National Assembly following the agreement by the lawmakers to remove most of the unbudgeted items they introduced into the fiscal document for pecuniary gains. READ MORE

$15bn lost to corruption affected Nigeria’s economy — OsinbajoIbadan—VICE President, Professor Yemi Osinbajo (SAN), yesterday disclosed that a mind-boggling sum of $15bn lost to corruption in security equipment procurement had adversely affected the economy of the country. READ MORE

FG to pay subsidy on petrolAbuja — The Federal Government has said it would pay subsidy on Premium Motor Spirit, otherwise known as petrol, from the recoveries made in the first quarter of 2016. READ MORE__________________________________

GUARDIAN NEWSPAPER

Outrage as herdsmen kill monarch, nephew in KadunaSuspected Fulani herdsmen have allegedly unleashed violence on the residents of Southern Kaduna, killing the traditional ruler of the Fadan Karshi district in Sanga Local Council, Bala Madaki and his nephew, Emmanuel Tanko, in a night attack. READ MORE

Intrigues as feud over National Assembly clerk deepensA serious power play between the leadership of the Senate and the National Assembly Service Commission over the appointment of an acting Clerk of the National Assembly (CNA) is threatening the smooth operation of the legislative arm of government. READ MORE

Leicester City wins first ever English Premier League titleLeicester City are on course for a windfall of more than $220 million for winning the English Premier League, a new study said. READ MORE__________________________________

THE NATION NEWSPAPER

‘$15b lost to fraud in security purchases under Jonathan’Vice President Yemi Osinbajo said yesterday that Nigeria lost about $15 billion to fraud in security equipment spending during the Dr. Goodluck Jonathan administration. READ MORE

Troops begin ‘Operation Crackdown’ in SambisaMilitary chiefs yesterday met in Maiduguri, the Borno State capital, to reappraise the ongoing anti-insurgency war in Sambisa Forest —believed to be the last stronghold of the Boko Haram insurgents. READ MORE

EFCC traces Diezani’s $115m bribe to stolen oilThe Economic and Financial Crimes Commission (EFCC) believes the money came from proceeds of stolen crude oil. READ MORE__________________________________

BUSINESS DAY NEWSPAPER

Dashed airfreight project hurts Nigeria’s N100bn trade receivablesLack of adquate cold storage and handling capacity for agricultural exports in Nigerian airports is crimping produce outflows and costing the country an estimated N100 billion annually, accruable from stepped up exports of perishable goods. This is coming on the back of a botched ‘aerotropolis’ project incorporating an extensive airport remodeling, meant to improve cargo… READ MORE

NADDC, SA in talks to attract automobile OEMs to NigeriaThe National Automotive Design and Development Council, (NADDC) is currently pushing up its partnership further with South African Global Original Equipment Manufacturers (OEMs) through a strategy which aims to make it worthwhile for automotive components and parts manufacturers in South Africa and elsewhere, to locate in Nigeria and produce for the local and export markets. This… READ MORE

NSIA, health ministry in new effort to reverse $1bn outflows for medical tourismThe Nigeria Sovereign Investment Authority (“NSIA”), the country’s sovereign wealth fund, and the Federal Ministry of Health, on Monday announced the launch of a comprehensive healthcare investment programme covering all six geo-political regions of the country, in a renewed effort to reverse over US$1 billion annual outflows through medical tourism. The aim of the investment... READ MORE