TheCable

The Punch reports that the Nigeria Labour Congress (NLC) has lamented the devastating impact of the foreign exchange crisis on the economy and demanded urgent stabilisation of the naira. The newspaper reports former President Muhammadu Buhari as saying that the country would have paid $15 billion if it had lost the case against Process & Industrial Developments Limited (P&ID).

The Nation reports that President Bola Tinubu has assured investors that the policies of his administration will remove barriers in doing business. The newspaper says an explosion rocked the Rivers stage house of the assembly complex on Sunday night.

Daily Trust reports that the federal government is yet to pay the peculiar allowance or staff seven months after the payment was approved. The newspaper says the federal government has signed a $463 million distribution lines upgrade contract with a Chinese consortium.

The Guardian reports that stakeholders said the move by the senate to recover the alleged over N11.3 trillion spent on the nation’s moribund refineries will remain an effort in futility. The newspaper says the All Progressives Congress (APC) and Peoples Democratic Party (PDP) in Osun are bickering over the N100 billion infrastructural agenda of Ademola Adeleke, governor of the state.

Daily Independent reports that indications have emerged that foreign exchange hoarders and speculators as well as banks are jittery over the implementation of the naira recovery plan by the Central Bank of Nigeria (CBN). The newspaper says the leadership of the Nigeria Labour Congress (NLC) has declared that it will embark on a strike and street protest in Owerri, the Imo state capital.