Good day! Here is a summary of the latest news in Nigeria newspapers today 16/10/2019.
1. It has been revealed by the Debt Management Office that Nigeria’s public debt has reached N25.7 trillion by the end of the second quarter of 2019. This is an increase of N3.32 trillion when compared to the same period last year. The federal government is owing N20.42 trillion while the 36 states as well as the Federal Capital Territory are owing a total amount of N5.28 trillion.
2. The National Identity Card is to be renewed with three thousand naira (N3,000) while replacement will cost five thousand naira (N5,000). This was made known by the agency responsible for identity management in Nigeria, the National Identity Management Commission (NIMC).
3. Nigeria’s GDP growth is expected to be weak this year, according to the International Monetary Fund (IMF). The fund disclosed this in Washington DC during the IMF/World Bank Annual Meeting currently going on in the city.
4. Senator Ali Ndume, Senate’s Army Committee chairman, has faulted the amounted budget for the ministry of defence in the 2020 budget. The ministry is having a budget of N99.87 billion for capital expenditure in 2020. The lawmaker said that this amount represents less than 1% of the total budget of N10.33 trillion which is ideal for a country that wants to end the insurgency war.
5. The meeting between the federal government and the organized labour has been adjourned till Wednesday 16th October 2019 so that grey areas can be sorted out. The organized labour has shifted grounds from 29% to 25% for workers on grade levels 7 to 14 and from 24% to 20% for grade level 15 to 17 workers.
6. President Buhari has requested for approval of the Parliament for N10 billion for Kogi State. The amount represents a refund of projects executed by the state on behalf of the federal government.
7. Nigeria’s Senate has adjourned plenary for two weeks so that Ministries, Departments and Agencies (MDAs) can be engaged for the purpose of 2020 budget defence. This was announced by the Senate President, Ahmed Lawan at the plenary on Tuesday.