The Governor of Imo State, Hope Uzodinma on Friday expressed optimism that the minimum wage offer of N62,000 jointly proposed by the federal government and Organised Private Sector (OPS) will become law.

Organised Labour on Tuesday (June 4, 2024) called off their industrial action in what they described as President Bola Ahmed Tinubu’s commitment to a higher national minimum wage above the N60,000 earlier proposed.

However, THE WHISTLER reported that although OPS and the federal government proposed the sum of N62,000 a 3.33 per cent increase from the earlier N60,000 rejected.

The Organised labour again rejected the amount, insisting on N250,000 as the new minimum wage for Nigerians.

But Uzodinma while answering questions shortly after the tripartite committee meeting for minimum wage in Abuja said, “We expect what happened in 2018, to repeat itself”. 

Recall in 2018, the OPS and Organised Labour proposed N30,000 while the federal government under the administration of Former President Muhammadu Buhari proposed N24,000.

The two figures went to the president as a recommendation for his consideration for onward transmission to the National Assembly for it to become a law and the majority proposal of N30,000 was enacted.

In the same vein, Uzodinma said, “We were able to engage the critical stakeholders at the committee by the end of the day.

“Out of the three parties involved, the OPS, government and organised labour we met and two parties have agreed to go with N62,000, as of yesterday (Thursday) Labour insisted on N494,000 today they came down to N250,000.

“Among the three parties, two have come to be the majority. So, the majority will always have their way and the minority can have their say.

“Arising from what happened in 2018, when the government lost after offering N24,000 and OPS and Labour offered N30,000. When the recommendation got to the then-president, he approved and took the opposition party.

“In the same margin, we expect when this gets to the president he will also take the majority position”.

Weighing in on the minimum wage disparity, the Chairman of the Tripartite Committee on National New minimum wage, Alhaji Bukar Goni Aji said the two recommendations would be sent to the president to act on.

He said, “In the last four months, the issue of the new national minimum wage has been the topic discussed everywhere A lot of work has gone into it, the plenary meeting today is our 12th meeting”.

“And the recommendation today came as a deeper understanding and studies of all the economic indices. Caution has been displayed so that a figure that will further throw the country into confusion is not allowed.

“This is because the very moment a party goes into an agreement that it knows it cannot afford, then it is going to create another problem and the federal government and OPS have agreed to the figure of what they term what they can afford”.

The chairman noted that the committee was to recommend a minimum wage but was not bestowed the power to implement or approve a minimum wage.

Nigeria’s inflation rate is predicted to stabilize at 14 per cent in 2029, indicating a potential end to the current upward trend according to the latest data from the International Monetary Fund.

This projection comes as a relief amidst concerns over the increasing inflation rate, which currently stands at 33.69 per cent as of April 2024, according to the National Bureau of Statistics a variation from the IMF’s prediction of 24.6 per cent in the year.

The IMF data suggests that the inflation rate will gradually decline from 23 per cent in 2025 to 16 per cent in 2026, 15.4 per cent in 2027, and 14 per cent in both 2028 and 2029.

This predicted stabilisation is believed to be a welcome development for the Nigerian economy, which has been grappling with rising inflation and interest rates.

Nigeria’s economy has been facing challenges in recent times, with rising inflation and interest rates posing significant threats to economic growth and stability.

The Central Bank of Nigeria has implemented various measures to address these challenges, including the increase in interest rates at the 295th MPC meeting in May 2024.

However, economists have raised concerns over the continued increase in inflation and interest rates, urging the government to address the underlying drivers of inflation, which are primarily food and transportation costs.

The Chief Economist, SPM Professionals, Paul Alaje, who spoke exclusively to PUNCH online via phone decried the increase in the Monetary Policy Rate.

He said, “I do not encourage any increase in MPR because the increase would have implications.

“Already within 4 weeks, we have seen the Monetary Policy Committee increase on 600 basis points, the MPR.

Alaje asserted that Nigeria is getting poorer and the economy is growing at a slow pace.

“We need to look at other tools rather than monetary tools in providing solutions to our economy. Monetary authorities have tried their best and we have seen so many things they have brought, however, despite all of the efforts, the exchange rate is back at 1,500 heading towards 1,600.

“Our solution would go beyond forcing and using monetary tools when we know that it is not just money supply influencing what we have,” he said.

However, another economist Jonathan Thomas said he believed  “the IMF prediction of a stabilised inflation rate in 2029 is a positive indicator for the Nigerian economy. However, the government and monetary authorities must remain vigilant and implement policies that address the root causes of inflation.”

The current increase in inflation and interest rates has significant implications for businesses, households, and the overall economy.

By addressing the drivers of inflation and maintaining a stable economic environment, Nigeria can promote sustainable economic growth and development and possibly meet up with the IMF’s prediction.

Nigeria’s head coach, Finidi George, has shed light on his decision not to field Victor Boniface in Friday night’s encounter against South Africa.

Despite the promising striker’s potential inclusion from the bench, Finidi explained that the circumstances on the field of play prompted a change in plans.

“We thought about bringing him in, he was supposed to come in, but when we had Ajayi complain that he couldn’t continue, we had to reverse that,” Finidi acknowledged in a post-match interview on Friday.

The coach noted a tactical shift, ultimately leading to Boniface’s exclusion from the match.

However, Finidi was quick to reassure fans that the talented forward’s opportunity may still come. “We have another game definitely if he’s up and doing he’s going to play,” he stated.

Addressing the criticism and demands from some quarters regarding player selections, Finidi emphasised the importance of on-field performance over external pressures.

“For me, it’s what you can give to me on the field of play. Everybody wants this player or that player to play, but at the end of the day, if the player is not performing, you guys will still be shouting take him off, so let us do our job. We know who is good to go,” Finidi declared. 

On Friday, the Super Eagles played a 1-1 draw against Bafana Bafana of South Africa in the third round of the 2026 World Cup qualifier.

Themba Zwane of South Africa opened the scoresheet in the 29th minute of the match played at the Godswill Akpabio International Stadium, Uyo, Akwa Ibom State.

Equalising after a superb turn, Nigeria’s Fisayo Dele-Bashiru slotted in a low shot to the edge of the post in the 46th minute.

The match ended at a stalemate, however.

The results mean that Nigeria is placed fifth in a table of six teams after three matches in the 10-match competition.

Nigeria, in three matches, has drawn all three.

The group winners will qualify for 2026 World Cup in Canada, Mexico and United States; four best-ranked runners-up go into play-offs and winners enter an inter-continental tournament where six nations will compete for two places.

Meanwhile, the game marked Finidi’s first game as Super Eagles coach.

Super Eagles will travel to Abidjan to face third-placed Benin on June 10.

The National Publicity Secretary of the Labour Party, LP, Abayomi Arabambi, had said that the party would not allow Peter Obi to join the Peoples Democratic Party, PDP.

Arabambi made this statement in an interview on Channels Television on Friday monitored by DAILY POST.

According to him, the party is seeking a political solution to its internal crisis so that its 2023 presidential candidate won’t work with his PDP counterpart, Atiku Abubakar, ahead of the 2027 poll. 

“Politically, we will not allow the crisis to fester for long that we will now allow Mr Peter Obi to join Atiku.

“We knew their plans, that was why we said ‘we need to explore political solution between ourselves,” he said.

The Labour Party chieftain also spoke on the recent legal tussle bedeviling the party wherein an FCT High Court barred Julius Abure and two others from parading themselves as national officers of the party.

Recall that Justice Hamza Muazu of the FCT High Court, ruling on an ex parte application on April 5, 2023, had restrained Abure, Farouk Ibrahim, Clement Ojukwu, and Oluchi Opara from acting as national officers of the LP.

But in March 2024, the Court of Appeal in Abuja set aside the judgment of the lower court which restrained Julius Abure and two others from parading themselves as national officers of the Labour Party.

Justice Hamman Barka, leading a three-member panel of justices, held that Abure’s appeal had merit and was accordingly allowed. He held that the FCT high court was wrong to have assumed jurisdiction on the matter.

The court also awarded the sum of N1 million in favour of Abure and other appellants in the matter.

Reacting to the verdict, Arabambi said every action taken by Abure between March 2023 and March 2024 is a nullity.

“Since the Court of Appeal just set aside the judgement in March 2024, every other thing done between March 2023 and to 2024 by Julius Abure is a nullity,” he added.

The spokesman of the Obi-Datti organisation, Yunusa Tanko, on Friday, clarified that the Obidient Movement is bigger than the Labour Party.

Tanko, while speaking on Channels TV, stated this despite the movement being supporters of the LP presidential candidate in the 2023 election, Peter Obi.

He said, “It’s bigger than the Labour Party. It is so because it is a move of its own that has a life of its own. What they are interested in is good governance

“Even if the Labour Party is doing something that is wrong, they are able to challenge it. Let me go further. Even His Excellency [Peter Obi], if he does something that is not aligned with good governance, we would challenge it.”

According to Tanko, the Obidient Movement is all about good governance, which Obi preaches.

He said, “They are loyal to the messages that connect to good governance and Peter Obi is championing that particular good governance.”

Recall that the Labour Party, after a backlash, recently renamed a directorate of the party named the Directorate of Obidient Affairs.

According to the National Publicity Secretary of LP, Obiora Ifoh, the Obidient Directorate is now renamed as the Directorate of Mobilisation and Integration.

Obiorah said, “Following the controversies arising from the creation of the Directorate of OBIDIENT Affairs, in the party, the Directorate is hereby renamed the Directorate of Mobilisation and Integration.

“The inauguration will take place on Saturday, June 8, 2024, at the party’s National Secretariat, Utako, Abuja, by 10 a.m. Party members and the general public should take note.”

In the wake of the move, Obi said the movement is beyond the LP and cuts across party, gender, and ethnic divides.

Obi said, “There may be a youth mobilization directorate in political parties, but the Obidient Movement is far beyond a particular political party. The Obidient Movement is a diverse and inclusive collective that transcends traditional political, religious, and ethnic affiliations

“It is not domiciled within any particular party or headquartered in any particular part of the country.”

A former Peoples Democratic Party, PDP, Deputy National Chairman, Bode George, has maintained that President Bola Tinubu’s lack of prior experience in the presidency warrants a grace period.

The PDP chieftain stressed that President Bola Tinubu might not have been able to achieve much in one year because he was studying the failures of his predecessors.

The elder statesman, therefore, called on Nigerians to give President Tinubu an additional year to deliver on his promises and fix the country’s challenges.

George highlighted in an interview with AriseTV on Friday, June 7, that Tinubu, being a first-time president, requires additional time to enact his policies and gain Nigerians’ trust in his vision.

The elder statesman said, “He (Tinubu) had never served at that level (presidency). Well… you will say he was part of the party (APC) that formed the government (of Muhammadu Buhari), but it’s a hell of a different thing taking over and now leading the team.

“To be fair to my conscience, he has had that one-year holiday of trying to study the failures of the past administration. I have given him that one year of grace because now he has seen it and lived there.

“I expect his ministers to have come back in one year with those areas of lapses. Even when Baba (Olusegun Obasanjo became president in 1999, he was still trying to figure out what happened there or vise-versa in his first year. Let’s give him more time.”

The Nigerian government said it is releasing N20 billion to provide electricity meters for Band A customers before the end of September 2024.

Adebayo Adelabu, the minister of power, disclosed this on Friday at the BusinessDay Conference in Lagos.

“We are releasing N20 billion for the electricity distribution companies to procure meters for the unmetered Band A customers before the end of September,” he stated.

“The government has put in place the required framework to enable an injection of 1.5 million meters into the power sector through the World Bank Distribution Support Recovery Program.

“The Presidential Metering Initiative will ensure an additional 2 million meters will be procured annually for 5 years. This will ensure accurate billing, reducing revenue loss and improving cash flow for a more liquid power sector.”

According to latest data from the Nigerian Electricity Regulatory Commission, NERC, electricity customers in Nigeria without meters stood at 7,319,846 million which is 55.61 per cent of a total of 13,162,572 power consumers.

Consequently, only 5,842,726 electricity customers are metered of 13,162,572 registered consumers who get supply from the national grid, according to NERC.

The development comes as NERC announced a 245 per cent electricity tariff hike for Band A customers, getting 20-24 power supply in April.

Meanwhile, the Nigeria Labour Congress and Trade Union Congress embarked on strike on Monday, calling for the reversal of the electricity tariff hike.

Leicester City have announced the departure of Super Eagles forward Kelechi Iheanacho.

Iheanacho is leaving the Foxes after seven years.

The 27-year-old’s contract will expire at the end of this month.

The Nigerian joined Leicester City from Manchester City in 2017.

Iheanacho scored 61 goals in Leicester’s colours, including the winner against his former club in the FA Community Shield final at Wembley in August 2021.

The Foxes also announced they are in talks with his compatriot, Wilfred Ndidi, over a new contract.

Ndidi’s current contract will end at the end of the month.

Super Eagles of Nigeria mount more pressure on themselves in the race to qualify for the 2026 FIFA World Cup by failing to defeat South Africa in Uyo.

Ahead of the World Cup qualification match which went down at the Godswill Akpabio International Stadium earlier today, June 7, it was clear that the South African side had the aim of beating or drawing with the Super Eagles in Uyo.

Unfortunately for the Nigerian side, the Super Eagles played into their hands as they failed to stamp their authority in the game during the first half.

The Nigerian side looked completely uncoordinated in the first 45 minutes as they struggled to put passes together, especially in the final third.

As for the Bafana Bafana, they maintained their game plan which was to wait and launch counter-attacks. The tactics paid off for them in the 29th minute when Themba Zwane opened the scoring for the visitors.

The Bafana Bafana side ended the first half with the slim lead which didn’t last up to one minute in the second half of the encounter. Turkish-based Nigerian midfielder, Fisayo Dele-Bashiru of Hatayspor scored the equalizer for Nigeria in the 46th minute.

After that, the Super Eagles continued with their uncoordinated display, especially in the opposition’s penalty box as the game ended in a 1-1 draw.

The draw leaves the Super Eagles in the 5th spot in Group C, a point below 4th placed South Africa and two points below first-placed Lesotho.

As it stands, every game in the qualification series matters for the Super Eagles starting with their next game which is against third-placed Benin Republic in Abidjan on June 10.

The Bola Ahmed Tinubu-led Federal Government has increased its offer of a new national minimum wage to N62,000.

Organized labour has reduced its demand from N494,000 to N250,000.

Already the Tripartite Committee on New National Minimum Wage has adjourned as there was no consensus at the meeting.

The organized private sector also backed the government offer of N62,000, Vanguard reports.

The Tripartite Committee on New National Minimum Wage, NNMW, adjourned following their inability to reach an agreement.

According to the source, “there was disagreement on the amount. The government offered N62,000 and Labour offered N250,000.

“The report is to be communicated to the President for further deliberation on the next line of action. Let us wait for the President to receive the report.”

Recalls that organised labour’s negotiating team walked out of the committee meeting on Tuesday, May 22, for the second time in two weeks after the Federal Government increased its offer to N60,000 from the N57,000 it offered on Wednesday, May 22.

Labour, represented by the Nigeria Labour Congress, NLC, and its Trade Union Congress of Nigeria, TUC, counterpart, walked out of the tripartite committee meeting on May 15 after the government offered N48,000 and Organised Private Sector, OPS, offered N54,000, against the N615,000.