Good morning Nigeria. Welcome to the Naturenex roundup of top newspaper headlines in Nigeria for today, Wednesday, 18th September, 2024
1. Bishop Kukah Is Not Correct; Tinubu Signed Peace Accords In 2023 – Presidency
The Presidency has said President Bola Tinubu signed the Peace Accords in 2023.
The Senior Special Adviser on Information and Strategy to the President, Bayo Onanuga, said the accusation that President Tinubu refused to sign the Peace Accord was false.
The Catholic Bishop of Sokoto Dioceses and the Co-Chairman of the National Peace Committee, Bishop Matthew Kukah, while speaking at the Edo Election Security Townhall on Sunday, in Benin, stated that political parties and candidates cannot be forced to sign the Peace Accord.
However, Onanuga, in a statement, on Tuesday, explained that the President was represented by the Vice President, Kashim Shettima.
“Contrary to the claims by Bishop Kukah, President Tinubu signed the two peace accords preceding his election in 2023. The first accord, committing the candidates to a free and credible election in the country, was signed on September 29, 2022. Vice President Kashim Shettima represented Tinubu.
“The second agreement, signed on February 23, 2023, was for the candidates to accept the election outcome. Tinubu signed,” Onanuga wrote on his X handle.
2. “It’s All Lies” – Tinubu Has Not Asked Cardoso To Resign As CBN Governor – Onanuga
The presidency has denied a report that claimed President Bola Tinubu asked the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, to resign.
The Special Adviser to President Tinubu on Information and Strategy, Bayo Onanuga, issued the denial on Tuesday in a post via his account on the X platform.
According to the presidential aide, the claim is a lie.
“It’s all lies. President Tinubu has not asked Yemi Cardoso to resign,” he wrote.
The denial is a direct reply to a report by an online medium (not Naija News), which claimed the President asked Cardoso to resign as the CBN Governor following his inability to stop the poor performance of the economy, including the naira’s poor performance.
The said report had claimed President Tinubu gave the directive before his trip to China.
3. No One Can Set Bauchi On Fire, You Are Frustrated – Gov Mohammed Replies Wike
The Governor of Bauchi State, Bala Mohammed, has described the Minister of the Federal Capital Territory (FCT), Nyesom Wike, as a frustrated politician.
Mohammed stated this while reacting to Wike’s threat to “put fire” in the states of Peoples Democratic Party (PDP) governors who interfere in Rivers State crisis.
The governor dismissed Wike’s threat, insisting that Bauchi is strong enough to handle any challenges.
Mohammed spoke while receiving members of the PDP National Working Committee in Bauchi on Tuesday.
He also stated that disagreements within the party are never personal and should not be misunderstood.
Mohammed downplayed the comments made by his “frustrated” friend, reaffirming their personal relationship and his commitment to leadership.
4. The Decision Of The NNPC To Fix Price Of Petrol From Dangote Refinery Is A Violent Contradiction Of The Law – Falana
Human rights lawyer, Femi Falana (SAN), has criticized the decision of the Nigerian National Petroleum Company Limited (NNPCL) to determine the price of petrol coming from Dangote Refinery.
According to Falana, in a statement on Tuesday, the action of the NNPC is a gross violation of the Petroleum Industry Act (PIA).
According to him, it is illegal for the NNPCL to determine the price of petrol in the country after the government has deregulated the sector and announced that market forces would be responsible for the determination of fuel prices in the country.
Falana also argued that the ₦950 minimum price per litre set by the NNPCL for petrol from Dangote Refinery is not justifiable, and it is an act of sabotage for the national oil company to sell petrol from the refinery at prices higher than the imported ones.
The lawyer added that it is wrong for the NNPCL to justify the high cost by stating it bought fuel in dollars from Dangote Refinery when the government had approved that both parties should deal in naira.
Falana also criticized the move by the NNPC as the sole buyer of petrol from Dangote Refinery, arguing that other marketers should be given direct access.
He called on the Federal Competition and Consumer Protection Commission (FCCPC) to check the monopolistic tendencies of the NNPC.
5. Julius Abure No Longer Labour Party Chairman – INEC
The Independent National Electoral Commission (INEC) has announced that it no longer recognizes Julius Abure as the National Chairman of the Labour Party (LP), labeling his continued claim to the position as “illegal and unconstitutional.”
This position was made clear in a counter-affidavit submitted by Ayuba Mohammed, an Executive Officer in INEC’s Litigation and Prosecution Department, in response to a legal suit filed by the Labour Party (Suit NO. FHC/ABJ/CS/1271/2024).
The party had challenged its exclusion from INEC’s training for uploading party agents ahead of the Edo and Ondo governorship elections.
The conflict stems from the expiration of Abure’s tenure on June 9, 2024, as confirmed by the Labour Party’s Board of Trustees Secretary, Salisu Mohammad.
INEC contended that it did not monitor or acknowledge the Labour Party’s National Convention held in Anambra on March 27, 2024, where Abure claimed to have been re-elected as chairman.
According to INEC, Abure’s leadership and the convention itself violated the Nigerian Constitution and the Electoral Act. The commission asserted that it only engages with political parties that have lawful leadership in place.
INEC’s legal team, led by Tanko Inuwa, SAN, further argued that the Labour Party had failed to meet legal requirements for holding its national convention, rendering its leadership invalid.
6. Tinubu Signs Bill For Establishment Of Centre For Arms Control
President Bola Tinubu has signed the bill for the establishment of the National Center for the Control of Small Arms and Light Weapons.
The National Security Adviser (NSA) Nuhu Ribadu, disclosed this while speaking at a Workshop on Gender Mainstreaming in Preventing the Proliferation of Small Arms and Light Weapons in Nigeria and the West African Sub-region, on Tuesday, in Abuja.
According to Ribadu, the bill was a show of commitment by the President to curbing the proliferation of illegal arms.
Represented by the Director of External Affairs, Office of the National Security Adviser (ONSA), Amb. Ibrahim Babani, Ribadu stated that the assent to the bill would strengthen the Centre’s mandate for more coordinated and decisive action.
He emphasized that the workshop underscored the collective responsibility and determination to curb the spread of dangerous weapons and protect children and women in West Africa.
7. Lukman Urges Obasanjo, Babangida, And Gusau To Formulate Strategies Against APC For 2027 Elections
A former National Vice Chairman of the All Progressives Congress (APC) for the Northwest, Salihu Lukman, has called on former Presidents Olusegun Obasanjo and Ibrahim Babangida, along with retired General Aliyu Gusau, to devise innovative strategies aimed at displacing the APC from power in the 2027 elections.
Lukman emphasized that Nigeria is currently facing an existential crisis, stating that the nation’s democracy is in the “Intensive Care Unit” (ICU).
In a statement released on Tuesday in Abuja, Lukman responded to media reports regarding a meeting held on Sunday in Minna, Niger State, involving the trio.
He reflected on the recent National Council of State meeting, which took place on August 13, 2024, where a vote of confidence was passed on President Bola Tinubu.
Lukman speculated that the absence of Obasanjo and Babangida from that meeting might not have been coincidental and questioned whether their gathering in Minna signified a disagreement with the confidence vote given to Tinubu.
While acknowledging that the interventions of Obasanjo and Babangida may have contributed to the current challenges facing Nigeria, Lukman asserted that they have a responsibility to help steer the nation away from its precarious situation.
He urged them to leverage their influence and experience to reinvigorate the country’s democracy and create a more promising future for Nigerians.
8. CBN Upholds 5% Ways And Means Limit, Defying National Assembly’s Proposal
The Central Bank of Nigeria (CBN) has announced it will maintain the Ways and Means Advances to the federal government at a 5% limit for the fiscal years 2024-2025, despite a recent bill from the National Assembly increasing the limit to 10%.
This decision was outlined in the CBN’s Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines for the 2024-2025 fiscal period, released on Tuesday.
These guidelines emphasize the importance of macroeconomic stability and align with the Medium-Term Fiscal Framework (MTFF), aiming to manage expectations, respond to economic shocks, and sustain the ongoing economic recovery.
Additionally, the advances will now be calculated after accounting for the sub-accounts of various Ministries, Departments, and Agencies (MDAs), which are connected to the Consolidated Revenue Fund to determine the Federal Government’s overall cash position.
Ways and Means Advances are short-term loans from the CBN designed to help the government address temporary budget shortfalls.
Section 38 of the CBN Act of 2007 limits these advances to a percentage of the previous year’s revenue and mandates repayment within the fiscal year.
9. Edo Governorship: PDP Withdraws Threat To Boycott Saturday Election
The Peoples Democratic Party (PDP) has withdrawn its threat to boycott Saturday’s governorship election in Edo State.
The Edo State Governor, Godwin Obaseki and the state’s PDP Chairman, Anthony Aziegbemi, said the decision followed a review of commitments from Nigeria Police and the Independent National Electoral Commission (INEC).
The PDP reached the decision in a caucus meeting, the video of which was obtained by African Independent Television (AIT) on Tuesday. The meeting had Governor Obaseki, Aziegbemi and the party’s governorship candidate, Asue Ighodalo, among others in attendance.
Addressing newsmen, Obaseki and Aziegbemi advised Edo citizens to come out en mass to vote for the party’s candidate.
10. Fuel Subsidy Removal Could Hinder External Reserve Growth – CBN
The Central Bank of Nigeria (CBN) has warned that the removal of fuel subsidies, rising import costs, and increased external debt servicing could negatively impact the growth of the nation’s external reserves in 2024/2025.
This was outlined in the CBN’s Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines for the fiscal years 2024/2025.
Despite these concerns, the CBN’s outlook projects economic growth for Nigeria during this period, driven by continued policy support in agriculture and oil sectors, reforms in the foreign exchange market, and the implementation of the Finance Act 2023 and the 2022-2025 Medium-Term National Development Plan (MTNDP).
“The outlook for Nigeria’s external sector in 2024/2025 is optimistic,” the CBN stated, citing expectations of favorable trade terms due to higher crude oil prices and improved domestic oil production. The bank also expects gains from capital inflows and remittances.
However, challenges remain. “Lower crude oil earnings, the removal of fuel subsidies, increasing import bills, and growing external debt servicing obligations pose downside risks to external reserves,” the CBN added.
Additionally, the tightening of monetary policy by advanced economies could heighten the risk of capital outflows from Nigeria.
Regarding Nigeria’s overall economic output, the CBN anticipates a positive growth trajectory, bolstered by continued support for key sectors and effective implementation of reforms.
However, risks such as rising energy costs, driven by the ongoing Russia-Ukraine conflict, as well as Nigeria’s persistent security and infrastructure challenges, could undermine this outlook in the near term.
