Naijaonpoint looks at the top happenings making headlines on the front pages of Nigeria’s national newspapers today Monday, 11th November 2024.
The PUNCH: The estimated cost of landing Premium Motor Spirit, commonly known as petrol, on Nigeria’s shores has seen a considerable reduction of 20.34 per cent, dropping to N971.57 per litre over the past three months. This decline in landing cost, which reflects the price of importing and distributing the product, indicates some relief in terms of global market fluctuations and supply chain factors.
Vanguard: Banks are set to increase funding of petrol importation to N3.5 trillion as more marketers move to import the product amidst the push for the exclusivity of local production and supply led by Dangote Refinery. Financial Vanguard learnt that banks are now receiving more loan requests for funding petroleum products imports with the head of oil and gas in a tier-1 bank saying about N250 billion single request came to his desk last week, the third in the last month.
The Nation: The prospects of the tax reform proposed by the President Bola Ahmed Tinubu’s administration were brought to the fore at the weekend by the panel. Chairman, Presidential Fiscal Policy and Tax Reform Committee, Mr. Taiwo Oyedele, whose recommendations gave birth to the four bills before the National Assembly, gave an insight into the advantages of the proposals.
Daily Trust: High cost of building materials in the country is currently affecting activities in the property sector, posing a huge challenge to the government’s quest for affordable housing. It has also affected private property developers as many of them have slowed down on construction, while individuals craving to build their houses through direct labour are also complaining.
Thank you for reading, that is all for today, see you again tomorrow for a review of Nigerian newspapers.