Nigeria: Press focuses on Supreme Court’s judgment on appeal against Tinubu’s election, others

APA – Lagos (Nigeria)
The report that the Supreme Court will deliver judgment today in the appeal filed by Peoples Democratic Party (PDP) and its presidential candidate, Atiku Abubakar, and Labour Party (LP) with its presidential candidate, Peter Obi, challenging the Court of Appeal verdict, which affirmed the victory of President Bola Tinubu in the February 25 election dominates the headlines of Nigerian newspapers on Thursday.
The Guardian reports that the Supreme Court will deliver judgment today in the appeal filed by Peoples Democratic Party (PDP) and its presidential candidate, Atiku Abubakar, and Labour Party (LP) with its presidential candidate, Peter Obi, challenging the Court of Appeal verdict, which affirmed the victory of President Bola Tinubu in the February 25 election.
At the last proceeding on Monday, the apex court had reserved judgment, saying a date would be communicated to the parties. Yesterday, however, Director of Press and Information at the court, Dr. Festus Akande, confirmed that final judgment on the two appeals had been fixed for today.
Besides faulting verdict of the Presidential Election Petition Court (PEPC), which affirmed Tinubu’s election, Atiku also filed for permission to tender a copy of Tinubu’s academic records released by the Chicago State University (CSU), which he said showed that Tinubu submitted a forged certificate to Independent National Electoral Commission (INEC).
The former vice president also sought to have a Washington D.C. court order the FBI to release documents on Tinubu’s $460.000 forfeiture case.
The newspaper says that free fall of the Naira continued yesterday as it fell to N1, 290 to $1 in Abuja and other markets.
A Bureau de Change operator in zone four in Abuja which is reputed for exchange rate hotpot, Adamu Suleiman, said a dollar was bought for N1,250 and sold for N1,290 yesterday as of 5pm.
He said: “There is nothing new to say again. Once there is a scarcity that is biting, the price will continue to go up. It is a function of demand and supply.”
He expressed optimism about the expected fruitful collaboration between the fiscal and monetary authorities that may likely lead to market efficiency and availability.
“As stakeholders in this business, I am happy with the cooperation between the fiscal and monetary authorities. This was absent during the government of Muhammadu Buhari. Since these people in the fiscal and monetary sides know each other for a long time and have worked together at various times together with the President, I think better days are ahead of us,” he stated.
At the official window, NAFEM, the rate shed weight to N847 to the dollar. Indeed, the dip represented 6.93 per cent of N793 it exchanged for on Tuesday.
The dip to N847 is the second lowest the Nigerian currency has traded for after it slipped to N848 earlier this month.
Trading on NAFEM indicated that FX turnover yesterday stood at $88 million, which represented eight per cent of the previous day.
The Vanguard reports that the Federal Government through the Nigerian Shippers Council, NSC, yesterday reduced port terminal charges by 33 per cent from to 400 per cent to 600 per cent of storage.
But the FG increased bulk cargo charges by 100 per cent from 125 per cent to 250 per cent.
The changes were highlights of a meeting between the leadership of the Council, Seaport terminal operators, Shipping companies, freight forwarders and relevant stakeholders held yesterday.
The meeting also increased the number of free days for cargo storage at the terminals to five days from three days with a view to providing more flexibility for shippers and reduce costs.
Confirming the development, the Director, Public Relations Unit of the Nigerian Shippers Council, Rekiya Dhikru-Yagboyaju said that the previously proposed 600 per cent increase in terminal charges has been reduced to 400 per cent adding that the adjustment aims to strike a balance between the needs of the terminal operators and the shippers.
According to Dhikru-Yagboyaju, besides the reduction in terminal charges, an increase of 100 per cent on bulk cargoes was agreed upon by stakeholders that attended the meeting.
A statement of resolutions passed at the meeting said: “Break bulk cargo charges have been increased from 125 per cent to 250 per cent. This adjustment reflects the changing dynamics of the industry and ensures fair compensation for services provided.
The newspaper says that as Nigeria grapples to manage its mineral resources for national development, Metal Manufacturing Nigeria Limited, MMNL, has called for stricter export regulations within the country with respect to export of solid minerals in raw form.
The company lamented the proliferation of solid minerals for export, stressing that the development is denying Nigeria huge capital.
Commenting, Mr. Amit Kumar Saraf, MMNL Chief Executive Officer, said: “We are producing batteries with 95 percent local input, thereby creating thousands of direct and indirect employment opportunities, contributing to the country’s economy and saving the valuable foreign exchange reserve.
“All complaints regarding inefficiencies by the terminal operators will be addressed immediately. This commitment aims to improve overall operations and enhance customer satisfaction.
“The rampant export of solid minerals like lead ore and lead Ingots which are basic raw materials are really affecting the nation’s economy. The federal government needs to restrict export of these solid minerals.”
This came even as StarPlus, a flagship brand of MMNL, received three awards at the annual Economic Community of West African States, ECOWAS Manufacturing Excellence and ECOWAS Energy Awards recently in Lagos.
Nigeria’s indigenous tubular battery company was awarded the 2023 “ECOWAS Inverter Battery Manufacturing Company of the Year, ECOWAS Inverter Battery Company of the Year, and ECOWAS Renewable Company of the Year.
On the award, Saraf, said: “It was a rave of accolades as we won these awards. We are the only designed and made in Nigeria tubular battery brand. Starplus battery.
GIK/APA