FG To Borrow N26trn, Earmark N29trn For Debt Servicing And Other Newspaper Headlines Today

Nigeria’s soaring debt profile, naira depreciation, and rising cost of petrol, form the headlines and major stories of Nigerian Newspapers today, October 23.

The Punch reports that Nigeria’s total public debt may hit N118.37tn in the next three years. The newspaper says some filling stations in the northern region of the country are now selling petrol as high as N685/litre.

The Nation reports that Wale Edun, minister of finance, said the federal government is confident that its home-grown policies can revive the economy. The newspaper says the All Progressives Congress (APC) in the United States has raised the alarm over an alleged plot by some members of the National Democratic Coalition (NADECO) to discredit President Bola Tinubu.

The Guardian reports that the free fall of the naira against the dollar and the high cost of aviation fuel have led to a hike in the price of airfares. The newspaper says Nyesom Wike, minister of the federal capital territory (FCT), has clarified his meeting with Michael Freeman, Israeli ambassador to Nigeria, while dismissing insinuations that he expressed support for Israel against Palestine.

Daily Independent reports that healthy competition, which kept banks on their toes in the past, is gradually diminishing following the deployment of financial technology. The newspaper says the Peoples Democratic Party (PDP) is optimistic of victory at the supreme court ahead of the presidential election appeal verdict.

Nigerian Tribune reports that industries in Nigeria are battling survival over the depreciation of the naira against the dollar. The newspaper says contractors have opposed the order to return to site without payment review from the federal government.