Newspaper Headlines: Nigerians groan as inflation, unemployment hit hard

Daily Sun says Nigerians are lamenting the high rate of inflation. The newspaper reports the reassurance of President Muhammadu Buhari that his administration is capable of halting banditry and insurgency.

The Guardian reports that Nigerians are facing “tougher times” with rising debt profiles, high rates of inflation and unemployment. The newspaper says insecurity has triggered rural-urban migration. In another report, the newspaper says eminent Nigerians have petitioned the UN and other international organisations over what they described as a flawed 1999 constitution.

The Nigerian Tribune as its cover story says Nigeria’s inflation rate hits a record of 17.33 percent — highest in four years. The newspaper reports that prices of food items have soared in Kogi, Ondo and Ebonyi states. Three dead and 280 people hospitalised in Kano state over fake juice, the Nigerian Tribune says.

The Economic and Financial Crimes Commission has asked bankers to declare their assets, a move to curtail the role of financial institutions in keeping proceeds of crime, The Nation reports. The newspaper says the federal government is making plans for full deregulation of petrol price.

The Punch reports the controversy trailing the bill which seeks to decentralise minimum wage. The newspaper says the Nigeria Labour Congress (NLC) criticised the national assembly, demanding that restructuring of wages should start with political office holders. Ayo Adebanjo has emerged as the national leader of Afenifere, replacing Reuben Fasoranti, the newspaper reports.

Daily Independent reports that over N100 billion insurance funds invested in property have been trapped since the last consolidation of the industry in 2007. The newspaper reports that the Central Bank of Nigeria (CBN) has imposed a flat fee of N6.98 for mobile banking.