Newspaper Headlines: Tinubu approves $750m for rural electrification

Reports on increase in interest rate, the killings in Plateau state, and negotiations over a new minimum wage, perfuse the frontpages of Nigerian newspapers.

The Punch reports that members of the organised private sector and economists have expressed fears that the latest hike in the nation’s benchmark interest rate could hamper ability to repay loans. Siminalayi Fubara, governor of Rivers, said he started governing the state fully in February 2024 despite assuming office in May 2023, the newspaper says.
Daily Trust reports that bandits reportedly attacked Zurak village in Bashar district of Wase LGA, Plateau state, and killed more than 40 persons. The newspaper says the national minimum wage committee meeting between organised labour and the federal government ended in a stalemate.
The Guardian reports that organised labour has rejected the N54,000 minimum wage proposal of the federal government. The newspaper says the All Progressives Congress (APC) has dismissed rumoured merger talks between the Peoples Democratic Party (PDP) and Labour Party (LP).
THISDAY reports that the monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has further raised the monetary policy rate (MPR) from 24.75 percent to 26.25 percent. The newspaper says Abdullahi Ganduje, chairman of the All Progressives Congress (APC), said the party’s leadership is already working to secure President Bola Tinubu’s second term in office.

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