In Today’s Nigerian Newspaper: President Tinubu Expresses Hope for Economic Recovery Amidst Decades of Resource Waste, but Subsidy Regime Remains a Challenge

In Today’s Nigerian Newspaper: President Tinubu Expresses Hope for Economic Recovery Amidst Decades of Resource Waste, but Subsidy Regime Remains a Challenge

The PUNCH: Escalation of Nationwide Abductions

The pervasive scourge of abductions, previously confined to the North-West, has now metastasized, spreading its tentacles nationwide.

Bandits and criminal elements, once limited to operating on highways and in rural communities, have intensified their attacks, infiltrating major cities such as Lagos, Abuja, and other urban centers.

This expansion of criminal activities poses a severe threat to social and economic activities across the country.

The Guardian: Oil Outlook Setback and Unrealistic Budget

Concerns arise as Nigeria faces the potential failure to produce approximately 138 million barrels of crude oil, amounting to a staggering $10.73 billion in 2024.

President Bola Tinubu’s ambitious 2024 budget, pegged at N28 trillion, is under scrutiny for relying on an oil and gas outlook that has consistently proven unrealistic over the past decade.

The looming shortfall in crude oil production poses economic challenges for the nation.

Vanguard: Surge in Terrorist and Bandit Activities

In a disconcerting turn of events, terrorists, bandits, and criminals of various hues have escalated their inglorious activities in Nigeria.

Over the last 48 hours, they have unleashed mayhem in six states and the Federal Capital Territory, Abuja.

This surge in violence further compounds the existing security challenges, raising concerns about the safety and well-being of citizens.

The Nation: Tinubu’s Optimism Amidst Economic Challenges

President Bola Ahmed Tinubu expresses optimism about Nigeria’s economic recovery and prosperity. However, he laments the decades of waste and theft of public resources, particularly under the subsidy regime.

Tinubu acknowledges the challenges posed by the misuse of public funds by a few individuals but remains hopeful about the nation’s potential for economic turnaround.

Daily Trust: Minister Faces Probe Over N438 Million Contract Scandal

The Minister of Interior, Olubunmi Tunji-Ojo, is set to appear before the Code of Conduct Bureau (CCB) due to the involvement of a company he co-founded in a N438 million contract awarded by the Ministry of Humanitarian Affairs and Poverty Alleviation.

The company in question, New Planet Projects, belonging to the minister, allegedly benefited from the lucrative contract. The probe raises questions about potential conflicts of interest and transparency in government dealings.

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