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…FG’s N54,000 offer is a wage reduction
…No governor in attendance
…Meeting to reconvene today
…CDWR calls for mass action
The tripartite minimum wage negotiation meeting involving Organised Labour, the federal and state governments, and the Organized Private Sector, OPS, yesterday ended in deadlock, following Labour’s dismissal of the government’s N54,000 offer as expected.
Labour leaders also lamented the absence of state governors in the meeting to present their offers, as their representatives said they had no mandate.
However, Vanguard gathered that the meeting will reconvene today by 4 pm.
According to sources, labour leaders insisted that the Federal Government has not made an offer and that it appears the government is not serious.
According to Labour, the N54,000 offer falls below the N77,000 salary its workers are earning.
Before the meeting adjourned for today, it was agreed that governors must attend to make presentations.
Confirming the development, a member of the Tripartite Committee on the National Minimum Wage, Professor Theophilus Ndubuaku, lamented the absence of six governors who represent the six geopolitical zones, stressing that it would not augur well if any agreement was reached without the governors.
Professor Ndubuaku reiterated the May 31 deadline labour had given to the government to conclude negotiations.
He said: “It took them (the government team) some time and they were passing the buck on who would present the offer. It was then the Minister of Labour who now said they had shifted ground to N54,000.
‘N54,000 is wage reduction’
“We still told them that the ground they shifted means nothing. They have not started the negotiation because as of now, the take-home of the lowest-paid federal worker is over N77,000. By their standard, we have not started negotiating minimum wage.
“What we are negotiating now is wage reduction because what they are now telling us is that if we walk out of there if we agree on N54,000, that means we will come out and tell people who are already earning N77,000 that their wage has been reduced.
“We told them that a worker can’t start earning less than what he or she was earning. Is it that there is a reduction in inflation that the cost of living has improved, or is it that the cost of food items has come down?
“Why will they now be negotiating wage reduction? It is unthinkable. We cannot be involved in this kind of process where labour will sit down and negotiate wage reduction. On what will it be based? Will it be based on the fact that the revenue government is realising now since the petroleum subsidy was removed has been reduced?
“Or why will the government be talking about wage reduction when even the inflation is going higher and the cost of living is going higher? So, we told them it is not acceptable, but then we had to adjourn because we could not continue to negotiate without the presence of governors. It will not augur well for the tripartite committee.
Governors not at minimum wage talks
“The Federal Government’s team said it did not know why the governors were not around because six of them were sworn in as members of the committee. We told them this is a serious matter. If they refused to come, even if in the end we agreed on anything, they would say it was not binding on them because they were not there.
“There was a permanent secretary that represented one governor and the person had no input. So, nobody will decide on their (governors) behalf when they are not at the meeting. So we said let us adjourn and invite the governors formally. So, we had to adjourn to tomorrow (today) by 4 pm.”
On the reaction of organised labour when the N54,000 was offered, he said: “When they offered N54,000, we told them they have not started. We did not see that as any shifting of grounds which they promised.
“Shifting grounds must start from the point of negotiation for minimum wage. Anything below N77,000 is a wage reduction, anything below the take-home of the lowest-paid worker is a wage reduction. We cannot start negotiating wage reduction.
“Already the clock is ticking. We gave them a May 31 deadline to conclude negotiations, today (Tuesday) is May 21. We have 10 days to go and it will not augur well for this country if negotiations are not concluded on time.
“This one is no more the case if we did not agree. It is the case of the government not negotiating the minimum wage. I do not think we need any other notice (for a strike). They also said that as far as they are concerned, they are working towards the deadline so that we will conclude before we go to Geneva for the ILO.”
Recall that labour walked out of last week’s meeting after rejecting the government and the Organized Private Sector, OPS, new minimum wage proposals of N48,000 and N54, 000 respectively.
Under the umbrella of the Nigeria Labour Congress, NLC, and its Trade Union Congress of Nigeria, TUC, counterpart, Labour described the government’s proposal of a paltry N48,000 as not only insulting the sensibilities of Nigerian workers but also falling significantly short of meeting their needs and aspirations.
According to organised labour, what the government offered is a reduction in income for federal-level workers who are already receiving N30,000 as mandated by law, augmented by former President Muhammad Buhari’s 40 per cent peculiar allowance of N12,000 and the N35,000 wage award by the present government, totalling N77,000.
CDWR calls for mass action
Reacting to the development yesterday, the Campaign for Workers Democratic Right, called on labour leaders to mobilise workers for sustained mass action to actualise living wage and end all anti-people capitalists policies.
The group in a statement signed by national chairperson, Comrade Rufus Olusesan, and national publicity secretary, Comrade Chinedu Bosah, said: ‘’The Campaign for Democratic and Workers’ Rights, CDWR, calls on labour leadership not to turn this ultimatum to another empty threat like the previous one which has expired since March 13 without the NLC saying a single word, let alone a declaration of mass actions.
‘’Despite the ongoing negotiations, it is only a struggle anchored on mass mobilisation of Nigerian workers and the masses on a sustainable basis, demanding living wage and reversal of all anti-poor policies that can win reasonable concessions from an anti-people government. ‘’Therefore, after the expiration of the ultimatum, we propose a 48-hour general strike and mass protest as the first step. The struggle is going to be protracted, and so labour leaders should be prepared to sustain the mass actions through a programme of actions that allows workers to actively participate and be democratically involved.
‘’This will entail producing and circulating mass leaflets and posters, media campaigns, community mobilisation, mass meetings at workplaces and communities, and setting up community/workplace action committees to make clear that labour will wage a determined struggle to defend and improve the living standards of the vast majority of Nigerians.’’
Independent petroleum marketers have expressed concern over the rising price of Premium Motor Spirit, PMS, otherwise known as petrol, in private depots to N710 per litre.
With the increase, petrol pump prices at outlets operated by independent marketers also rose to between N730 and N750 per litre which has led to queues at some stations operated by major marketers and Nigerian National Petroleum Company Limited, NNPCL, where pump prices are cheaper at N610 and N568 per liter respectively.
A visit to the private depots in the Satellite and Apapa areas of Lagos showed that prices varied as the product were sold at between N701 and N735 per litre. The depots with the highest price include Bovas depot which sold petrol to independent marketers at N762 per litre followed by MRS depot with N735 per liter.
The lowest prices were at Rainoil depot at N705 per litre, Emadeb depot with N705 per litre, while depot owned by Eterna Oil and Sahara also known as Asharami depot sold at N701 per litre respectively.
One of the independent marketers who spoke on condition of anonymity stated “most major marketers own tank farms in Lagos and they buy directly from NNPC. Scarcity has eased out a bit because NNPC supply mainly to major marketers but we the independent marketers are struggling as we depend on these major marketers for products.
“The major marketers buy at NNPCL rate of N548 to N550 per litre and they sell to us at N705, the cheapest is N701 per litre. These major marketers have filling stations in Lagos and other states but in Lagos they sell in their various stations at N610 to N620 per liter.
“IPMAN stations in Lagos are struggling as we are unable to sell due to the price difference making the market highly competitive. Our people outside Lagos are the ones selling as they benefit from the high price that it’s being sold over there.
He noted “when we buy from these major marketers at N705 per liter, NUPENG will charge us per the number of liters we purchase and then we add transportation cost of N15 to our filling stations, the price at the pump will be sold at N740 to N750 per liter”
Meanwhile, in a telephone interview with Vanguard, the National President, Independent Petroleum Marketers Association of Nigeria, IPMAN, Alhaji Abubakar Migandi Garima, stated that the supply hitches witnessed in the past few weeks have eased, adding that the situation in the country has gradually improved as marketers have started lifting the products from NNPC depots.
“Some of our members have started direct purchase through NNPCL, but the allocation from them is very low and cannot sustain all our members, therefore we have to go through private deports and buy from them to augment our various stations. For our members that buy from the private deports, automatically the price will change at their stations as they sell at a higher rate compared to major marketers”.
Findings by Vanguard indicated that some independent marketers partner with some major marketers to get petroleum products at NNPC price in order to stay afloat.
The Academic Staff Union of Universities, ASUU, had reiterated that it would declare a nationwide strike anytime soon following the federal government’s refusal to meet its demands despite consistent appeals.
While addressing journalists on Tuesday during a news conference at the University of Lagos, the coordinator of the Lagos zone of the union, Prof. Adelaja Odukoya, said the union was fast losing patience over government’s insensitivity to the plight of its members and that of the public universities.
Odukoya said the only saving grace that could stop them from embarking on the proposed industrial action is for the federal government to do the needful fast.
He spoke against the backdrop of the union’s National Executive Council, NEC, meeting held at the Obafemi Awołowo University, Ile-Ife, on May 11 and 12, 2024.
“Our union assessed the outcomes of its engagements with the state and federal governments over the last few months on matters pertaining to the status of developments around the renegotiated 2009 Agreement, payment of owed salaries and earned academic allowances (EAA), unremitted deductions made by the disruptive and discredited IPPIS, proliferation of universities, and a number of other matters.
“NEC also had a critical review of government policies and actions that had led to the present deteriorated living and working conditions across the country and in our universities, particularly,” he said.
According to him, most of the issues mentioned had been lingering and unaddressed by the government for many years.
He also debunked the threat of a ‘no work, no pay’ rule by the government, adding that the policy is unknown in global labour laws of which Nigeria is a signatory.
On the newly-constituted governing councils for federal universities, Odukoya described them as ‘illegal.’
He said ASUU had urged the federal government to recall them about a year ago to complete their tenures in line with the University Act upon which they were constituted.
“So, we are not talking about the personalities and composition of the list but the illegality of constituting new councils,” he added.
Odukoya called for proper funding of public universities rather than creating new ones, noting that it is far better to enhance the capacity and access of these universities and make them globally competitive.
He said ASUU would not relent in its struggles for better public university education and the country.
Constituents of Kaura Namoda-Birnin Magaji federal constituency of Zamfara State have notified the chairman of the Independent National Electoral Commission, INEC, Professor Mahmood Yakubu, of their resolve to recall Hon. Aminu Sani Jaji from the House of Representatives.
The constituents said their decision is on account of poor representation pursuant to Section 69 of the Constitution of the Federal Republic of Nigeria.
The recall letter, submitted by the constituents to the office of the chairman at the INEC Headquarters in Abuja, was duly acknowledged and stamped.
Constituents have also commenced the collection of signatures of the voters as contained in the voters’ register, which will be forwarded to the commission for verification of the voters’ signatures and subsequently to conduct a referendum for Jaji’s recall.
The statement, signed by Hon. Bello Mahmud Birnin Magaji, chairman of the Coalition for Sustainable Democracy and its secretary, Comrade Mustapha Ibrahim, said: “We urge eligible voters in the constituency to turn up en masse for this crucial civic exercise. The urgent need to recall Hon. Jaji cannot be overemphasised, as he failed woefully to represent his constituency at a time when his service is most needed.”
Activist and political analyst Atiku Abubakar has said that President Bola Tinubu inherited a nation in disarray, economically, politically and security-wise.
He said this during an interview on Arise Television’s News Day, insisting the president is on track and requires time to address the issues inherited from the previous administration.
According to him: “The President, in my opinion, has done well. This is because he met a country in disarray, economically, politically and security-wise. But he has been able to put things in proper perspective, even though we expect him to do some more.
“But in my opinion, the President is on track because he has shown so far that he is a listening President with so many actions he has taken so far.
“His policies are well conceived but in the implementation, there are some things that should have been done differently.
“But the good thing is that the President is listening and anything that needs to be corrected will be corrected because he has shown capacity in leadership so far.”
The Labour Party’s 2023 Presidential Candidate, Peter Obi has said Nigeria comes first.
He called on every Nigerian irrespective of social or political standing to focus on navigating the prevailing economic hardships rather than obsessing over the next electoral cycle.
While addressing his supporters at the Labour Party’s National Secretariat in Abuja, Mr Obi criticized the tendency of some politicians to shift focus to elections immediately after one ends, neglecting the more pressing issues of welfare and security of the citizens.
“Political parties have no purpose without the nation. Our primary concern should be the well-being of our people and the security of our nation,” Obi told a large gathering of party faithful.
He stressed that Nigeria’s survival and prosperity must be the paramount concern because “Nigeria is the only country we have.”
This statement comes at a time when many Nigerians are grappling with significant economic challenges, including rising prices and unemployment, which have been exacerbated by global economic pressures and local policy decisions.
The event’s high turnout underscores the deep support for Mr Obi’s message of prioritizing governance over politics.
This stance has defined his political career and continues to attract a diverse following across the country.
As Nigeria navigates these challenging times, the voices advocating for a shift in political priorities are becoming louder.
Many citizens are calling for leaders who prioritize their welfare over political ambitions
Governor Similanayi Fubara of Rivers State has said he started taking decision as a governor in February, 2024.
Fubara, who spoke on Tuesday at Egbeda Community Secondary School field, venue of the inauguration of some internal roads project in Emohua Local Government Area, inaugurated by Delta State governor, Sheriff Oborevwori, reiterated that the projects people were seeing were accomplishments of four months.
He said good governance, service and projects were being delivered at a cost-effective rate.
He said, “We are just starting but I assure you of more attention. If in four months, we can do this, and we are getting this level of applause, you can imagine what will happen when we do one year of our record time, two years of our own record time, Rivers State would have experienced something different from the regular governance.
“I know why I said four months. We started full governance in February, 2024. That was when we started taking decisions, when we started confronting governance. And I am proud to say that our people are happy with what we have done.
“What we want to do is to bring governance to our people, service delivery at record time, and in a cost effective way.
“Everything that we are doing is in my white paper. I carry it along, so, there is no issue of any manipulation. Call me any day, anytime, it is there. Even the ones I did before this time, I still have all the records.
“If you call me any day, I will bring the records of all my activities in government, because I know that as a civil servant, what is most important is record keeping; so that if you are not there, and something happens, it is just for somebody to pick up the file and he will see the history.
“That is how I am trained, and I have that in my mind before I do anything. So, I am not scared of anything. Anybody who calls me any day, anytime, I have my records to show. I have all the approvals to show that I acted based on approval and not personal decision.”
The governor assured that his administration would continue to deliver projects that impact positively on the people directly while also empowering them to live better lives.
He stated that the Egbeda Internal Roads Project had been accomplished to both satisfy the needs of the people by making them happy and solving the perennial flooding problems experienced in the area.
The Governor acknowledged the support of the people before, during and after the elections, saying what his administration owes them is the dividends of democracy that included projects and social service delivery.
Performing the inauguration of the project,Oborevwori said he drove with Fubara on the road while accessing the venue of the event, and can testify of the commitment of his brother governor to sustain infrastructure development in the State.
He said, “This road project at Egbeda bears true testimony of the commitment of the Rivers State Government towards fulfilling its promise of sustainable infrastructure development of the State.
“It is reassuring that these all-season roads will economically empower, not only the people of Egbeda, but the entire Emohua Local Government Area of Rivers State.”
The Kano State House of Assembly has commenced the process of amending the Kano State Emirs (Appointment and Deposition) Law amidst call for the return of the deposed 14th Emir of Kano, Muhammad Sanusi.
The House resolved to amend the law after the Majority Leader and member representing Dala constituency, Hussien Dala, moved the motion during plenary on Tuesday.
Daily Trust reports that the law was first amended in 2019 during the rift between then-Governor Abdullahi Umar Ganduje and the deposed Emir.
The first amendment had broken the Kano emirate into five different emirates with the creation of Rano, Karaye, Gaya and Bichi Emirates, and the appointment of First Class Emirs for the new emirates, eventually culminating in the deposition of then Emir of Kano.
But following the electoral victory of Governor Abba Kabir Yusuf, who had campaigned with the restoration of the old Kano Emirate system, several groups renew the call for the reinstatement of Emir Sanusi.
One month before Governor Yusuf assumed office, Senator Rabiu Musa Kwankwaso, leader of the New Nigerian Peoples Party (NNPP), the ruling party in Kano, had said issue of the emirates would be reviewed.
“We campaigned and we are well-known in Nigeria, especially in Kano. What we showed the people is by God’s grace all the good projects we started when we were in government. This governor (Abba Kabir Yusuf) and his team will pick up from where we left off,” Kwankwaso had said.
“We as elders in the movement will continue to advice them to do things that are proper. We tried not to talk about whether the Emir would be removed or not, but now you see, the opportunity is there.
“Those who God made leaders will now decide on the next step and decision to take. They will review it and determine what is the right thing to be done.
“Apart from the issue of changing the emir, the emirates have now been divided into five. All of that will be reviewed too. When a leader comes into power whether in a country, state or local government area, he inherits things that are good and things that are difficult and challenging.
“We are confident God will give the governor (Abba Kabir Yusuf) the wisdom to come and resolve the challenges planted in Kano state so that everyone will leave peacefully in Kano state.”
The Nigerian Army has broken its silence on the shutting down of Banex Plaza in Abuja.
The plaza has been under lock and key since hoodlums attacked some soldiers un uniform on Saturday.
The soldiers who accompanied a complainant to the plaza were assaulted by a mob which broke into groups.
Although the police waded in to restore normalcy, soldiers later stormed the venue in vans and laid siege to the place.
In a statement on Tuesday, Major General Onyema Nwachukwu, Army spokesman, said the plaza was temporarily shut so as to take time to fish out the hoodlums behind Saturday’s incident.
“Following the recent unrest at Banex Plaza in Wuse, Abuja, on Saturday 18 May 2024, by yet to be identified hoodlums who launched a brutal attack on some Nigerian Army personnel, a swift intervention by soldiers and policemen on internal security duties salvaged the situation and rescued the attacked personnel from being lynched by the hoodlums.”
“It is important to note that the soldiers attacked were unarmed, did not engage in any form of aggression, and posed no threat to anyone. Therefore, the cruel treatment meted out to them was entirely unwarranted and unjustifiable.
“In response to this unfortunate incident, a meeting was convened with the management of Banex Plaza to identify and apprehend the perpetrators of this heinous act by temporarily shutting down activities in the plaza to ensure that the hoodlums who have been using the Banex neighborhood as a sanctuary to pose a security threat to the Federal Capital Territory were apprehended.
“This, is in furtherance of the need for extensive investigation to be conducted at the scene to determine both the immediate and underlying causes of this mayhem. This investigation ultimately aims at ensuring the security of the Federal Capital Territory and to prevent such unwarranted attacks on own personnel and other security operatives, as has been observed in other areas, such as the unfortunate attack in Okuama.
“The Nigerian Army will equally ensure that it diligently investigates the circumstances surrounding the presence of the personnel at the plaza and the attack that ensued.
Nonetheless, such acts of violence against personnel are not only condemnable, but could degenerate to a breakdown of law and order, orchestrating threats to national security.
“Accordingly, the NA enjoins members of the public to exercise caution and restraint in dealing with military personnel and other security operatives, especially when they are in uniform. There are established channels through which grievances or misconduct by personnel could be reported to the appropriate authorities. It is imperative that these channels are utilized to maintain order and respect for those who serve and protect our nation.”
[DailyTrust]
Governor Sim Fubara of Rivers State on Tuesday said he’s ready to answer queries, stressing that he took his time to document all his activities as a civil servant.
Fubara said he had records to show that all he did during his time as a civil servant was based on approval.
The governor, who spoke during the inauguration of Egbeda internal roads, was reacting to those questioning his decision to probe the previous administration.
Under the past administration of Nyesom Wike, Fubara was the Accountant-General.
Amid his face-off with the now Minister of the Federal Capital Territory, FCT, Fubara had vowed to probe Wike and previous administrations.
However, Fubara said his records demonstrate that all his actions in the last administration were based on proper approvals.
[DailyPost]
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Meeting on the ongoing negotiations on new minimum wage has been adjourned till Wednesday after the organised labour rejected the new N54,000 minimum wage proposal by the Federal Government, a highly reliable source who attended the meeting told our correspondent on Wednesday.
The PUNCH had exclusively reported that the Federal Government upped its offer from its earlier proposed N48,000 to N54,000.
Tuesday’s meeting came as a result of the walkout staged by members of the organised labour following the proposal of N48,000 as minimum wage by the Federal Government during last week’s meeting.
During that meeting, the OPS had also proposed N54,000 while labour insisted on its N615,000 living wage demand.
Our correspondent who spoke to sources who attended the follow-up meeting on Tuesday learnt that the Federal Government upped its offer from N48,000 to N54,000.
“Well, during the meeting, the government increased its offer from N48,000 to N54,000. However, labour rejected that offer and the meeting has been adjourned till Wednesday,” a source who asked not to be named said.
When asked if the government’s side was showing any sign of seriousness, the labour leader said, “No seriousness at all. Even state governors did not show up. Those who represented them, like Bauchi and Niger states, did not have the mandates to speak on their behalf.
“As regards the private sector, we did not get to them before the meeting was adjourned but we hope they also increase their initial offer.”
Organised labour on Monday reiterated its May 31, 2024 deadline for the implementation of the new minimum wage.
The National President of the Nigeria Labour Congress, Joe Ajaero, insisted on N615,000 minimum wage, arguing that the amount was arrived at after an analysis of the current economic situation and the needs of an average Nigerian family of six.
He blamed the government and the OPS for the breakdown in negotiation, saying, “Despite earnest efforts to reach an equitable agreement, the less than reasonable action of the Government and the Organised Private Sector has led to a breakdown in negotiations.”
In a statement released at the end of the jointly held NEC meeting by the NLC and TUC which was signed by Joe Ajaero, NLC president and Festus Osifo, TUC president, the unions said they acknowledge the ongoing negotiations between the NLC/TUC, the Organised Private Sector and the Federal Government regarding the new national minimum wage.
While appreciating what they described as the efforts made thus far, the NLC and TUC emphasized the urgency of reaching a fair and equitable agreement that reflects the true value of Nigerian workers’ contributions to the nation’s development and the current crisis of survival facing Nigerians as a result of government’s policies.
They also affirmed commitment to ensuring that the interests and welfare of workers are adequately protected in the negotiation process.
President Bola Tinubu through Vice President Kashim Shettima, on January 30, 2024, inaugurated the 37-member Tripartite Committee on Minimum Wage to come up with a new minimum wage ahead of the expiration of the current N30,000 wage on April 18.
With its membership cutting across federal and state governments, the private sector and organised labour, the panel is to recommend a new national minimum wage for the country.
During the inauguration of the panel, Shettima urged the members to “speedily” arrive at a resolution and submit their reports early.
“This timely submission is crucial to ensure the emergence of a new minimum wage,” Shettima said.
In furtherance of its assignment, a zonal public hearing was held simultaneously on March 7 in Lagos, Kano, Enugu, Akwa Ibom, Adamawa, and Abuja.
The NLC and the TUC in different states proposed various figures as a living wage, referencing the current economic crunch and the high costs of living.
In their different proposals on the minimum wage, the NLC members in the South-West states demanded N794,000 as the TUC suggested N447,000.
At the North-Central zonal hearing in Abuja, the workers demanded N709,000 as the new national minimum wage, while their counterparts in the South-South clamoured for N850,000.
In the North-West, N485,000 was proposed, while the South-East stakeholders demanded N540,000 minimum wage.
But organised labour settled for N615,000 as a living wage.
[Punch]
President Bola Ahmed Tinubu yesterday inaugurated the 6th National Stakeholders Working Group, NSWG, of the Nigeria Extractive Industries Transparency Initiative, NEITI, with a charge on members to stay away from the day-to-day activities of the agency.
The President said that since the appointment was on a part time basis, the daily management of NEITI lies with the management team led by the Executive Secretary, Dr. Orji Ogbonnaya Orji.
The Secretary to the Government of the Federation, Senator George Akume who inaugurated the board on behalf of President Tinubu reaffirmed the commitment of the Federal Government to the implementation of the principles and standard of the global Extractive Industries Transparency Initiative (EITI) in Nigeria.
“Our faith in the EITI process is not just because it is central to our key government agendas, but also because, over the years, NEITI has demonstrated a high degree of competence, integrity and commitment to the values that the country requires to achieve economic growth and development in the sector through availability of reliable information and data required for national planning and reforms.
“NEITI has supported phenomenal revenue growth in the sector through meticulous application of EITI principles. Our national and global focus is on energy security, efficiency and justice in energy financing, renewable and control of emissions. The work of NEITI is so important to our country and particularly this administration in helping us to define our country’s engagement strategy on the energy transition debate through consultations, constructive engagement driven by reliable information and data”, the President added.
He charged the members: “Your appointment as a member of the NSWG is not a full time job and as members, please note this very carefully to avoid getting involved into issues of day to day management which is the work of NEITI management under the leadership of the Executive Secretary. You are therefore advised to conduct yourselves in accordance with this requirement”.
Addressing the board in his capacity as the NSWG Chairman, Senator George Akume stated that his appointment demonstrates the Federal Government’s prompt and timely response to the recent global EITI assessment of Nigeria’s implementation of the Initiative which among other observations stressed the urgent need to reconstitute NEITI’s Board to avoid sanctions.
Other members of the board are: Chairman of the Federal Inland Revenue Service (FIRS), representing the government, the Group CEO, NNPC Limited is representing the National Oil and Gas Company. The Board also has a representative of the Oil Producers Trade Section (OPTS), Lagos Chamber of Commerce and the President of Miners Association of Nigeria representing Extractive Companies (Oil, gas and mining companies). The civil society organisations have Dr Erisa Danladi representing them while the Presidents of Nigeria Mining & Geosciences Society (NMGS) and the President National Union of Petroleum and Natural Gas Workers (NUPENG) are representing Extractive Industries Professional Unions on the Board.
[vanguard]
The Central of Nigeria Monetary Policy Committee has raised interest rates by 150 basis points to 26.25 per cent from 24.75 per cent in March to tackle rising inflation.
CBN Governor, Olayemi Cardoso disclosed this on Tuesday at the 295th MPC press briefing in Abuja.
The apex boss said the decision to raise the interest rate was to tame the country’s soaring headline inflation which increased to 33.69 per cent in April.
CBN had continued tightening of monetary instruments to bring down inflation.
The 295th MPC meeting is the third since the appointment of Cardoso in September last year.
In May 2023, Nigeria’s interest rate stood at 18.75 per cent.
The National Chairman of the All Progressives Congress, APC, Dr Abdullahi Ganduje, has said that the National Working Committee, NWC, of the party is working to get new state governors come 2027.
Ganduje made this known on Tuesday in Abuja at a policy roundtable titled, ‘The Asiwaju Scorecard Series’, organised by APC Professionals Forum.
He said the leadership of the APC was gradually restructuring the party into a truly grassroots progressive party.
The chairman said the NWC has directed the state chapters of the party to liaise with their respective governors and other stakeholders to ensure that they have full-fledged, functional offices in every political ward and state to enable members across the country to have symbolic representation in their neighborhood.
He said the NWC has also constituted a reconciliation committee that would reconcile all aggrieved party members, and such committees would be established at the state, local government and ward levels.
Ganduje noted: “Even though it is not yet an election period, we are reinvigorating that party to ensure that come 2027, we will retain and get new state governors, as well as Mr President to secure another mandate to continue with his government’s policies and programmes.
“We are gradually restructuring our party into a truly grassroots progressive party. We have directed our State Chapters to liaise with their respective Governors and other stakeholders to ensure that we have full-fledged, functional offices in every political ward and state to enable our members across the country to have symbolic representation in their neighborhood.
“This measure will ensure that party activities are rolled out all year round not during political campaigning and elections only.”