Nigerian newspaper review for September 3: FG weighs options as another $2.3bn fine looms
The main headlines of mainstream Nigerian newspapers of Tuesday, September 3, are focused on the $9.6bn damages imposed on Nigerian government, another $2.3bn fine looming for Nigeria, measures being taken by governors as flood ravages states among others.
The Nation reports that Nigeria will be filing a stay of execution at a British court that imposed damages of $9.6bn against the federal government over a failed agreement between Nigeria and an Irish firm, Process and Industrial Development (P&ID).
The government also intends filing an appeal, despite initially considering negotiating with the Irish firm.
These decisions were taken on Monday, September 2, at a meeting chaired by Vice President Yemi Osinbajo at the presidential villa, Abuja.
Source: UGC
Vanguard reports that the Nigerian government risks another $2.3 billion fine as a result of controversies surrounding the Mambilla power project in Taraba state.
The $5.8 billion Mabilla hydro-power facility is being delayed over unresolved legal and funding crisis involving the federal government and a local content partner, Sunrise Power and Transmission Company Limited (SPTCL).
Source: UGC
The Punch reports that governors in states like Oyo, Ekiti, Adamawa, Gombe, Bayelsa and Osun states have started taking panicky measures to prevent further destruction following the brunt of downpour that was borne by residents of these states.
Recall that the director general of Nigeria Hydrological Services Agency (NIHSA), had on August 7, placed 15 states on the red alert.
According to NIHSA, the states to be affected by the looming flood include Niger, Lagos, Edo, Imo, Abia, Jigawa, Adamawa, Cross River, Oyo, Enugu, Kebbi, Nasarawa, Delta, Rivers and Bauchi, as well as the Federal Capital Territory.
Source: UGC
The Guardian on its part reports that due to non-review and non-domestication of Nigeria's building code, the country might be losing trillions of naira.
The loss includes funds spent on rescue operations and deployment of emergency equipment during building collapse, the cost of building materials, and treatment of injuries.
A building code is also known as building control or building regulation, and it was introduced to the country by colonialists.
It is a set of rules specifying standards for constructed objects such as buildings and non-building structures, but it is no longer applicable for modern-day construction in the country.
Source: UGC
This Day reports that the withdrawal of Addax Petroleum Development Nigeria Limited from the controversial gas to power project stalled the deal between the federal government and the Irish-owned Process and Industrial Developments (P&ID) Limited.
Recall that a British court imposed damages of $9.6 billion on Nigerian for not fulfilling its own end of the agreement it had with the Irish firm.
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Further steps were taken by the Nigerian government on Tuesday, September 3, to find a way out of the logjam.
Vice President Yemi Osinbajo led a team to meet with a British lawyer believed to have represented Nigeria in the UK enforcement suit to review the matter.
Source: UGC
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Source: Legit.ng
