DAILY INDEPENDENT and NEW TELEGRAPH have both revealed I their headlines the words of Deputy Senate President Ike Ekweremadu on the situation of Democracy in the country. He said the seeming inaction of government in promptly resolving the numerous challenges currently facing the nation has given rise to his pessimism. Ekeweremadu expressed this concern on Wednesday while contributing to a debate on a motion sponsored by Ahmed Ogembe, senator representing Kogi Central. DAILY SUN however has a different angle to Ekweremadu’s words with its headline reading; Senate Indicts Govs Over Power Abuse. Daily sun started his story by quoting the words of the Senate deputy leader saying
“The problem in Nigeria now is that our democracy is receding and the international community needs to know this. Who says that the Army cannot take over in Nigeria? It is possible. So, let us not joke with our democracy, especially with the way they are going.”
Truck Drivers Get 48hrs To Vacate Lagos Bridges heads THE NATION. This ultimatum was given by the military and the State Government during a stakeholders meeting at the Apapa Headquarters of the Western Naval Command (WNC). At the meeting were the Flag Officer Commanding (FOC) WNC, Rear Admiral Slyvanus Abbah; Permanent Secretary (PS), Lagos State Ministry of Transport, Dr. Taiwo Salau; Commander, 9 Brigade, Nigerian Army (NA), Brig.-Gen. Adiku Attu; Base Commander, Nigerian Air Force (NAF), and Air Commodore Mike Olatunji.
IMF discloses that Nigeria’s High Inflation, Worsening Unemployment Worrisome heads NIGERIAN TRIBUNE and THE GUARDIAN revealing Executive Board of the International Monetary Fund (IMF) expressing worry over sluggish growth in Nigeria’s non-oil sector, stubborn inflation and worsening unemployment.
In their report on Article IV consultation, which ended on March 5, the Fund’s executives observed that the economy is exiting recession but remains vulnerable.
“New foreign exchange measures, rising oil prices, attractive yields on government securities, and a tighter monetary policy have contributed to better foreign exchange availability, increased reserves to a four-year high, and contained inflationary pressures.”
Moving on to the Power sector, VANGUARD disclosed that Electricity Firms Drag FG To Court Over N1 Trillion Debt. The power crisis in the country may worsen as the Power Generation Companies in Nigeria, GENCOs, have dragged the Federal Government before a Federal High Court sitting in Abuja, over alleged preferential treatment to two of its competitors with intent to harm their business interests.
Finally on to BUSINESS DAY, the raging debate over a controversial land use law in Nigeria’s commercial city took a confusing turn on Wednesday with fresh criticism directed the way of lawmakers who initially admitted that inserting “Alpha Beta’, a private company into law was a “mistake” but later recanted after realizing the implication of such an admission and said that it was a ‘mirage’.