Top news items in major Nigerian media outlets

The following are highlights of leading Nigerian media outlets on Wednesday.

-- The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday admitted that its monetary policy tool has run out of options and that the economy could only get the needed support from effective implementation of fiscal policies.

The verdict formed the basis for the committee's decision to retain benchmark rate at 14 percent and this confirms impending depression as there is no harmony between monetary and fiscal policies of government. (The Guardian)

-- The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday called on the Nigerian government to urgently evaluate the level of its domestic indebtedness and develop a framework for settling these debts.

The committee warned that the huge government indebtedness to economic agents had slowed down business activities. (The Punch)

-- Minister of State for Petroleum Resources on Tuesday stated that Nigeria's crude oil output had risen to around 1.9 million barrels per day.

Due to the activities of vandals and militants in the Niger Delta, Nigeria's crude oil output had dropped to as low as around 900,000 barrels per day, a far cry from the 2.2 million barrels per day benchmark in the 2016 budget. (Vanguard) Endit