Nigeria Newspapers: Today’s Daily Sun Newspaper Headlines [15 October, 2018].

sunnewspapers-naijanewspaper

Read All Newspapers in one Place - Download our App for free. DOWNLOAD

FG to borrow $2.8bn with Eurobond
Mon, 15 Oct 2018

BUY OR SELL OLD AND NEW CARS, PARTS, CAR MATERIALS AS CAR MART NG LAUNCH IN NIGERIA

Despite its excruciating debt service burden that has already drawn the red flag of the International Monetary Fund (IMF) and other multilateral finance institutions, the Federal Government, yesterday, confirmed it would soon be heading to the international financial market to raise about $2.8 billion in Eurobond to fund capital projects in the budget.
Disclosing this yesterday in Bali, Indonesia, while headlining the country’s ‘takeaways’ from the 2018 annual meetings of the International Monetary Fund (IMF) and the World Bank, the Finance Minister, Zainab Ahmed, said the country still has significant legroom for more borrowings with its total debt profile at just three per cent of GDP.[rml_read_more]

“The upcoming bonds that we are trying to raise would be within the 2018 budget framework and within approved targets. So we are not going beyond what was approved in the budget. The budget has approval for us to borrow both locally and internationally and we have a bond issuance within the range of $2.8 billion that we need to raise before this year closes out. That will be used to finance capital projects in the 2018 budget,” Ahmed said.

Apparently refusing to accept the IMF’s rating about the country’s huge debt stock and service obligations, the Minister stated that Nigeria still has much legroom for further borrowings since its total debt of over N72 trillion represents only 3 percent of the nation’s GDP.

Read All Newspapers in one Place - Download our App for free. DOWNLOAD

She said Nigeria’s challenge at the moment was not about the size of its debt, but about its lean revenue streams that are making serving obligations an Herculean tax for the government.

“What we have is a revenue problem and that means we need to work harder to increase our revenue to ease our debt service obligations. So we have to enhance our domestic revenue mobilisation so that we can ease the debt service burden that we now carry. We have a lot of headroom to borrow, but we are not rushing to borrow more because we have to consider the foreign debt service obligations that we carry now,” she said.

On the need for the Federal Government to build up stronger financial and fiscal buffers to guard against sudden global financial shocks, the minister disagreed with the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, when she argued that the country has really reached a level where it needs to consider increasing its fiscal buffers, noting that the global economy still looked vulnerable and fragile despite some marginal growth in some indicators, warning that Nigeria and many other countries, may be hurt in the next wave of recession if they fail to quickly build sufficient buffers.

“So as a country, both at the federal and state levels, we have to look at how to save more and how to invest more in critical infrastructure that will yield revenue. And that was what came across throughout the meetings with the World Bank and the IMF, that all countries, not just Africa but globally need to build more fiscal buffers,” she said.

read more…

Defaulters of local content law to lose 5% on contract sum
Mon, 15 Oct 2018
The NCDMB boss announced plans to partner DPRP on the effectiveimplementation of the Local Content Act. Adewale Sanyaolu Henceforth, defaulters of the local content law in the nation’s oil and gas industryare to lose five per cent on total contract sum, Executive Secretary, NigerianContent Development and Monitoring Board, Engr. Simbi Wabote, has warned. READ ALSO:16m []The post Defaulters of local content law to lose 5% on contract sum appeared first on The Sun Nigeria.
read more…

2019: PDP South East caucus, MASSOB okay Atiku/Obi ticket
Mon, 15 Oct 2018
The announcement has generated mixed reactions, with South East governors, in the forefront of opposition to Obi’s nomination. Fred Itua, Abuja and David Onwuchekwa, Nnewi Chairman of the South East Senate Caucus, Enyinnaya Abaribe and senator representing Edo Central, Clifford Ordia, as well as the Movement for the Actualisation of the Sovereign State of Biafra []The post 2019: PDP South East caucus, MASSOB okay Atiku/Obi ticket appeared first on The Sun Nigeria.
read more…

Guild of Editors condemns vote-buying, election fraud
Mon, 15 Oct 2018
The Guild observed that the role of traditional media is being threatened with the emergence of the social media Paul Osuyi, Asaba Nigerian editors have risen, with one voice, to condemn allegations of vote-buying which rocked recent party primaries to pick candidates of political parties; ahead of the 2019 general election. READ ALSO:Ahead 2019: ADP []The post Guild of Editors condemns vote-buying, election fraud appeared first on The Sun Nigeria.
read more…

Travel ban not political witch hunt ‘ Presidency
Mon, 15 Oct 2018
The Immi’gration Service and other security agencies have the mandate of the President to carry out enforcement It is not a political witch-hunt’ Juliana Taiwo-Obalonye, Abuja The Presidency has rebuffed insinuations that the EO6 is targeted at the opposition. READ ALSO:Atiku, lawyers reject ban on 50 Nigerians It also explained that the cases of most []The post Travel ban not political witch hunt ‘ Presidency appeared first on The Sun Nigeria.
read more…

Atiku, lawyers reject ban on 50 Nigerians
Mon, 15 Oct 2018
The former vice president noted that judging by past events, the 50 Nigerians affected by the travel ban might just be critics of the Buhari administration. Godwin Tsa, Ndubuisi Orji, Abuja, Noah Ebije, Kaduna A wave of denunciation and wild criticism have trailed the plan by the Federal Government toplace travel ban on 50 high []The post Atiku, lawyers reject ban on 50 Nigerians appeared first on The Sun Nigeria.
read more…

Atiku and Peter Obi combination
Mon, 15 Oct 2018
I am particularly excited that a few days after he emerged as the PDP presidential candidate, Atiku picked Peter Obi as his running mate. Casmir Igbokwe There is excitement in the air. There is also anxiety. It is partly because of the 2019 general election; and partly becauseof the prospect of having another change at []The post Atiku and Peter Obi combination appeared first on The Sun Nigeria.
read more…

Letter to Leah
Mon, 15 Oct 2018
It makes no difference whether Boko Haram allows you to read this letter or not. I write in the hope that, someday you will breathe the air of freedom Eric Osagie Pain in my heart, tears in my eyes, I write you this letter, dear Leah, the young, brave, brilliant girl kidnapped by Boko Haram, []The post Letter to Leah appeared first on The Sun Nigeria.
read more…

Revisiting APC’s disqualification of Shittu, Alhassan
Mon, 15 Oct 2018
The disqualification of Adebayo and Alhassan is an extremely important development that points in the direction of keeping fidelity with that notice. Sufuyan Ojeifo It is no longer news that the screening of aspirants on the platform of the All Progressives Congress (APC) with some of its interesting outcomes, has come and gone. One of []The post Revisiting APC’s disqualification of Shittu, Alhassan appeared first on The Sun Nigeria.
read more…

Primordial republicanism, stereotypism and Igbo leadership syndrome (2)
Mon, 15 Oct 2018
The bankrupt state of Igbo leadership is best illustrated in the alacrity with which they have jettisoned their traditional republicanism in favor of mushroom kingships Maduabuchi Dukor Eze-Ndigbo in all nooks and corners of Nigeria is the bitumen of this arcane consciousness. Politics as business becomes an end in itself without productivityand entrepreneurial enhancement, provided []The post Primordial republicanism, stereotypism and Igbo leadership syndrome (2) appeared first on The Sun Niger
read more…

Why Buhari will beat Atiku
Mon, 15 Oct 2018
Atiku’s controversial antecedents almost make him unelectable, let alone beating Candidate Buhari in the next presidential election. Ebere Wabara The appositeness of David Broder’s words is instructive here: ‘Anybody who wants the Presidencyso much that he will spend two years organizingand campaigning for it is not to be trusted with the office.’ Circumstantially, the germanenessof []The post Why Buhari will beat Atiku appeared first on The Sun Nigeria.
read more…

2019 and Enugu PDP primaries
Mon, 15 Oct 2018
As a true democrat in the midst of some governors, who are now small gods, [Ugwuanyi] insisted that Enugu people must have a say. Uche Nnamdi Its election season in the country. As expected, political parties and their leaders are busy, trying to put final touches to recently concluded primaries. While losers are still licking []The post 2019 and Enugu PDP primaries appeared first on The Sun Nigeria.
read more…

Lessons from the primaries
Mon, 15 Oct 2018
Now that the party primaries are behind us, it seems that one of the most significant lessons of the exercise is the decision of the Independent National Electoral Commission (INEC) to close the door on the Zamfara State branch of the ruling All Progressives Congress (APC) for its inability to put its house in order []The post Lessons from the primaries appeared first on The Sun Nigeria.
read more…