Senate: Nigeria Lost N2.3tn to Oil Theft This Year
Asks panels to probe security agencies Moves to transfer social investment programme to presidency Worries insecurity may lead to acute food Crisis Seeks adequate military presence in north
Ndubuisi Francis and Sunday Aborisade in Abuja The Senate disclosed yesterday that
Nigeria has so far lost N2.3 trillion this year to oil theft . Owing to this, it therefore ordered a thorough investigation into the
actions of security forces and militia groups using sophisticated methods to steal crude oil in the country. This followed a motion during
plenary by Senator Ned Munir Nwoko (Delta North). Nwoko, noted that available statistical data have shown that
pipeline vandalism and oil bunkering had brought Nigeria into serious socio-economic crisis. The lawmaker alleged that some
bad eggs within the security agencies conspired with unscrupulous figures Continued on page 10
CJN to Judges: Our Works Shall Testify for Us When We’re Gone... Page 34 Wednesday 11 October, 2023 Vol 28. No 10409. Price: N250
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Niger Delta Roads in Deplorable Condition, Clark Tells Tinubu... Page 33
APC: Sylva Remains Our Bayelsa Guber Candidate
We’ll step up campaign instead, Ganduje boasts Ex-gov appeals sack, asks court to stay judgment execution Our state doesn’t deserve serial deceiver, says Diri
Deji Elumoye, Adedayo Akinwale, Alex Enumah in Abuja and Olusegun Samuel in Yenagoa
The All Progressives Congress (APC), yesterday, said a former Minister of Petroleum Resources, Timipre Sylva,
who was sacked Monday night by a federal High Court, Abuja, as unfit to be on the ballot again, remained
its governorship candidate in the November 11, governorship election in Bayelsa State.
Corroborating this, the National Chairman of the APC, Abdullahi Ganduje, has said the party leadership
would not be swayed by the court Continued on page 10
IMF: Tinubu’s Policies Paving Way for Inclusive Growth
Revises Nigeria’s growth prospects downwards to 2.9% Edun: With global rise in debt service cost Nigeria focused on encouraging domestic, foreign investments Eromosele Abiodun and Nume Ekeghe in Marrakech
The International Monetary Fund (IMF) yesterday, applauded recent economic reforms such as fuel subsidy removal and unification of the exchange rates initiated by President Bola Tinubu, noting that the measures were a pathway towards stronger and inclusive growth. However, the multilateral institution revised Nigeria’s growth prospects downwards to 2.9 per cent for 2023, a decline of -0.3 per cent from the 3.2 per cent it had predicted for the country in its July World Economic Outlook (WEO). This was just as Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, yesterday, expressed concern over the rising debt service cost globally, saying the situation has forced the federal government to focus more on stimulating domestic investments Continued on page 10
IMF/WORLD BANK ANNUAL MEETINGS in Marrakech...
L-R Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Managing Director of the IMF, Kristalina Georgieva and Chair, African Governor’ Caucus and the Minister of Finance Cape Verde, Dr. Olavo Correia , at the meeting of the African Ministers and Governors’ caucus meeting with the IMF MD at the ongoing 2023 Annual World Bank/IMF meetings in Marrakech, Morocco... yesterday
Israeli Ambassador Insists Hamas Must Be Wiped Out... Page 35