Good morning. Here is today’s summary from Nigerian Newspapers:
1. MPC Meeting: Reactions Trail Interest Rate Hike
- It Is Detrimental To Investment, Economic Growth, CPPE Laments
- Multiple Interest Rate Hikes Boosted Nigerians’ Confidence In Naira- CBN
- CBN To Boost Liquidity In Banks With N1.4trn Supply In 3 Months- Cardoso
Rising from its two day meeting between September 23rd to 24th, 2024, the Monetary Policy Committee of the Central Bank of Nigeria has again for the fifth time raised Nigeria’s interest rates by 50 basis points from 26.75% to 27.25% to tighten the inflation rate which stands at 32.15%. READ MORE
2. The Unemployment Time Bomb
- Hits 5.3% in Q1 2024, Youth Unemployment Drops To 8.4%
- Worries As More Youths Are Getting Discouraged From Seeking Employment- NBS
Nigeria’s unemployment rate increased by 0.3% points from 5.0% in the third quarter of 2023 to 5.3% in the first quarter of 2024. READ MORE
3. Over N385 Billion Owed In Unpaid Electricity Bills — NERC
Nigerian electricity consumers had N385.7 billion in debt as of 2023, despite a steady improvement in bill collection efficiency. READ MORE
4. Senate to Screen Acting CJN Kekere-Ekun Today
Today (Wednesday), the Senate will screen Justice Kudirat Kekere-Ekun, the acting Chief Justice of Nigeria, for her confirmation as the substantive Chief Justice. READ MORE
5. 2 Million Security Personnel Can’t Protect 200 Million Nigerians, Says Army Chief
The Chief of Army Staff, General Taoreed Lagbaja, stated yesterday that it is impractical for two million security personnel to safeguard Nigeria’s population of over 200 million. He made this assertion during the 2024 Distinguished Personality Lecture held in Ilorin, Kwara State. READ MORE
6. Subsidy Removal: “I Disagree With Dangote” – Doyin Okupe
Dr. Doyin Okupe, a former presidential spokesperson, has voiced his opposition to business magnate Alhaji Aliko Dangote’s suggestion for the total removal of fuel subsidies. READ MORE
7. NDLEA Re-Arrests Cartel At Lagos Airport With 19.4kg Of Cocaine Worth Over N4.6 Billion
Christian Ifeanyi Ogbuji, an ex convict and business man has been rearrested months after being arrested and convicted for smuggling 93 pellets of cocaine. READ MORE
8. Stop Constituting Parallel Agency Over Edo Poll Results, APC Tells Yiaga Africa
All Progressives Congress on Tuesday in Abuja urged Yiaga Africa to desist from constituting itself into a parallel agency for the declaration of election result. READ MORE
9. Nkunku Hat-Trick Sends Chelsea Into Fourth Round Of Carabao Cup
Christopher Nkunku netted a hat-trick as Chelsea sailed into the fourth round of the Carabao Cup with a dominant win over League 2 side Barrow at Stamford Bridge. READ MORE
10. ‘Japa’: Banky W Relocates To US With Hisq Family
Bankole Wellington, better known by his stage name Banky W, is a Nigerian R&B artist who moved to the US with his family. READ MORE
