Kyari: Rising Oil Prices Will Create Problems for Nigeria IMF laments re-emergence of fuel subsidy Welcomes CBN’s measures to unify exchange rates Obinna Chima in Lagos, Francis Ndubuisi and Emmanuel Addeh in Abuja Group Managing Director of the Nigerian National
Petroleum Corporation (NNPC), Mallam Mele Kyari, has warned that rather than being a positive development, the rising prices of crude oil in the international market could
cause major challenges for resource-dependent nations like Nigeria. He spoke just as the International Monetary Fund (IMF) expressed concern over
the re-emergence of fuel subsidy in Nigeria in the face of the country’s low revenue mobilisation. The Washington-based institution, however, welcomed
recent moves by the Central Bank of Nigeria (CBN) to unify exchange rates, certifying Nigerian banks as being liquid and well-capitalised. Kyari, at the virtual Citizens
Energy Congress, tagged: “Securing a Sustainable Future Energy System through Strategy, Collaboration and Continued on page 12
Drop Press Regulation Bill, Media Leaders Tell House... Page 5 Friday 18 June, 2021 Vol 26. No 9566. Price: N250
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STRAIGHT FROM THE FACTORY... Air Peace congratulates Nigeria as the third of the 13 brand new planes the company ordered arrives Lagos…yesterday
Buhari in Maiduguri, Vows Not to Rest Until Peace is Restored Urges military to ramp up fight against insurgency
Deji Elumoye and Michael Olugbode in Abuja President Muhammadu Buhari yesterday assured residents of Borno State of the federal government's readiness to fight terrorism to the end, telling the military not to give criminals a breathing space to undermine Nigeria’s interests. The president, during a visit to Borno State, commended troops for their loyalty and selfless service to Nigeria and urged them not to relent in their efforts to end the insurgency in the North-east. He promised support for the families of fallen security personnel, saying he would ensure all Internally Displaced Persons (IDPs) return to their Continued on page 12
BOOST FOR YOUNG ATHLETES... L-R: National Trade Marketing Manager, Nigerian Breweries Plc., Mr. Funso Ayeni; President, Nigeria School Sports Federation, Ms. Olabisi Joseph; Minister of Youth and Sports Development, Mr. Sunday Dare; Overall Best Athlete, Demilade Ajayi; and Corporate Affairs Director, Nigerian Breweries Plc, Ms. Sade Morgan, at the celebratory breakfast for all Lagos State gold medalists from the just concluded 2021 Maltina School Games in Lagos…yesterday