TheCable

The Punch reports that less than 24 hours after President Bola Tinubu declared an end to the petrol subsidy regime because there’s no provision for it in the budget beyond June, the pump price of petrol skyrocketed to N600 per litre in many parts of the country. The newspaper says the national industrial court in Abuja has upheld the ‘no work no pay’ rule by the federal government in the suit filed against the Academic Staff Union of Universities (ASUU).

The Nation reports that the Nigerian stock market gained N1.5 trillion after the policy direction of Tinubu became clearer. The newspaper says petrol scarcity trailed the pronouncement of Tinubu regarding the end of the petrol subsidy regime.

Daily Trust reports that the administration of Tinubu has insisted on the planned removal of petrol subsidy as the pump price of petrol hits N700 per litre. The newspaper says former President Muhammadu Buhari was hosted to a special durbar by a large crowd in Daura, his hometown.

The Guardian reports that stakeholders have sought caution on planned removal of petrol subsidy. The newspaper says Nigerians are waiting for the first set of official appointments of Tinubu’s administration.

THISDAY reports that investors in both the equities and money markets responded positively to the pronouncements by Tinubu in his inaugural speech. The newspaper says the president has asked the Department of State Services (DSS) to vacate the office of the Economic and Financial Crimes Commission (EFCC) in Lagos.