The depletion of the excess crude account and the need to increase the number of soldiers engaged in the war against Boko Haram are some of the leading stories in Nigerian newspapers on Thursday.
The Nation newspaper said that experts have expressed concern over the report that the Excess Crude Account (ECA) was depleted from $325 million to $70 million within a month.
The experts blamed it on profound revenue challenges and lack of rules governing deposits and withdrawals from the special account.
This Day reported that the Borno State Governor, Prof. Babagana Zulum, stated that Nigeria would require about 100,000 more soldiers to win the war against Boko Haram.
He, however, suggested at least 50,000 of the recruits should come from Borno, irrespective of whether or not they have western education, to prosecute the ongoing war against terror.
The Daily Trust said the World Bank has approved six projects worth $22.2 billion to support Nigeria’s development priorities in key areas of improving immunization and enabling a stronger business environment for the private sector.
The Punch reported that the European Union’s complaint that it can impose restrictive visa implementation rules on Nigeria, if it fails to play its part in the return and readmission of its nationals staying illegally in the EU.
The EU, which comprises Germany, Italy, Spain, France and 23 other countries, further stated that although it would not place a visa ban on Nigeria, it could make its visas more difficult for Nigerian applicants if Nigeria failed to meet its standards.
The Leadership reported that about six weeks to the April 1, 2020 date for a new electricity tariff to come into effect in the country, the federal government has disclosed that it cannot continue to subsidise the power sector because electricity distribution companies (DisCos) have failed to make optimum use of the financial intervention.
The Sun said the African Development Bank (AfDB) has earmarked $500 million loan for the development of four agro-industrial zones across various states of Nigeria.
The Guardian reported that the Military Joint Task Force in the Niger Delta codenamed, Operation Delta Safe (OPDS), has denied invasion and razing of houses at Letugbene Community in Ekeremor Council Area of Bayelsa State.
MM/GIK/APA