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Newspaper Headlines: Tanker operators threaten to stop lifting petrol over operation costs

Newspaper Headlines: Tanker operators threaten to stop lifting petrol over operation costs
February 16
07:00 2024

Reports on the high cost of living in Nigeria and conversation on the creation of state police, dominate the cover pages of Nigerian newspapers.

The Punch reports that the federal government has ruled out the importation of food as part of strategies to address the high costs of foodstuffs and the economic hardship troubling the country. The newspaper says the Nigerian Association of Road Transport Owners has vowed to stop lifting petroleum products beginning from next week Monday due to the high cost of operations.

Daily Trust reports that the federal government may adopt state police to check rising insecurity in the country. The newspaper says Nigerians who have their children and wards in foreign educational institutions, are currently struggling to pay school fees owing to the depreciation of the naira.

The Nation says the Central Bank of Nigeria (CBN) has placed limits on the transfer of proceeds from crude exports by international oil companies (IOCs) to offshore parent company accounts. The newspaper says banks are inducing their customers to sell the foreign currencies domiciled in their branches.

THISDAY reports that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said it plans to relocate some of its units from Abuja to Lagos. The newspaper says the consumer price index (CPI), which measures the rate of change in prices of goods and services, rose to 29.9 percent in January 2024.

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