Manufacturers Groan As Naira Further Depreciates And Other Newspaper Headlines

Stories and news analysis on the state of the Nigerian economy and issues concerning the adoption of the use of concrete for road construction, dominate the cover pages of Nigerian newspapers today October 11.

The Punch reports that business owners have warned that the depreciating value of the naira would lead to the shutting down of factories and attendant job losses. The newspaper says the Nigerian Christian Pilgrims Commission has announced the suspension of all pilgrimages to Israel and Jordan as a result of the ongoing war between Israel and Hamas.

The Guardian reports that the federal government’s budget for road infrastructure may double if the authorities dump asphalt pavement for concrete road technology. The newspaper says the senate has ordered a probe into alleged theft of crude oil by members of the nation’s security forces and militia groups.

Daily Independent reports that there are strong indications that the new policy on concrete for road construction has pitched David Umahi, minister of works, against some contractors handling federal roads.

Nigerian Tribune reports that the Independent National Electoral Commission (INEC) has announced that 5,409,438 Nigerians are expected to vote in the upcoming off-cycle elections in Bayelsa, Imo and Kogi states. The newspaper says Timipre Sylva, former minister of state for petroleum resources, is set to appeal the judgment disqualifying him from contesting the governorship election in Bayelsa state.

THISDAY reports that the International Monetary Fund (IMF) has applauded recent economic reforms such as fuel subsidy removal and unification of the exchange rate initiated by President Bola Tinubu. Edwin Clark, convener of the Pan-Niger Delta Forum (PANDEF), has written a letter to Tinubu over what he described as deplorable condition of federal roads in the south-south zone.