Nigeria’s inaugural private television station, Desmims Broadcast Nigeria and Alheri Radio (DITV) has declared a halt to its operations due to challenging economic conditions.

Naija News reports that the oldest private radio station in Northern Nigeria announced this development in a statement released over the weekend in Kaduna.

The Acting General Manager and Chairman of the Management Committee, Idris Mustapha, noted in the statement that the surging operational expenses, especially the rising costs of electricity, have rendered it unfeasible for the station to operate effectively.

This announcement represents a pivotal moment in Nigeria’s media sector, particularly for the Hausa-speaking audience, which has consistently supported DITV and Alheri Radio throughout the years.

“The escalating cost of power has made it impossible to operate the station effectively,” the management announced, expressing its regret over the development and assuring the public that standard transmission would resume as soon as the financial situation improves.

“We sincerely regret the inconvenience this may cause our millions of viewers and listeners,” the statement added.

Mustapha elaborated that the financial challenges were intensified by the failure of numerous businesses that had previously advertised on the television station to fulfil their financial commitments, which had a considerable impact on revenue generation.

The Borno State Governor, Babagana Zulum, has insisted that the proposed tax reforms by President Bola Tinubu should not be implemented as they are.

Governor Zulum maintained that if the bills are passed, most of the money from the Value Added Tax (VAT) will go to Lagos State.

He, however, warned that if President Bola Tinubu uses his power and influence to get the bills passed by the National Assembly without making the necessary adjustments, there would be consequences for the people.

While insisting that he is not against the administration of President Tinubu, Zulum asked for more time for consultations on the tax reform proposals in the spirit of democracy.

The Borno State Governor added that contrary to insinuations in some quarters, the Governrs are not against the President.

“We know the power of the president. I’m a system man; I respect him. If the president wants to use his power to pass the tax bill, he may have his way, but it has its consequences on the people,” Zulum said during the interview with Channels Television on Sunday.

Naija News recalls the President in October, asked the National Assembly to consider and pass the Joint Revenue Board of Nigeria (Establishment) Bill, 2024 -SB.583; The Nigeria Revenue Service (Establishment) BILL, 2024- SB.584; The Nigeria Tax Administration Bill, 2024-SB.585; and the Nigeria Tax Bill, 2024 – SB.586.

Despite opposition from some quarters against the bills, the Senate has passed the bills for second reading.

Abdulrasheed Shehu, an aide to former Vice President, Atiku Abubakar, has said the idea of a merger or alliance with the 2023 presidential candidate of the Labour Party (LP), Peter Obi, remains a possibility.

Naija New reported that Atiku and Peter Obi reignited discussions around the possibility of both uniting for a run at the 2027 presidential election after their Saturday meeting in Yola.

Obi was the keynote speaker at the 20th anniversary of the American University of Nigeria (AUN), which Atiku owns.

Although spokespersons for both politicians denied any political undertones to the invitation, social media was abuzz, especially after Atiku posted a video of the breakfast meeting with Peter Obi at his Yola home.

However, there are speculations that the meeting was part of preparations for the 2027 presidential race, as the crises within the Labour Party and Peoples Democratic Party (PDP) show no signs of resolution.

An X user, Theo Agada, wrote, “Repeat the 2019 ticket and promise to do one term. Then watch the Nigerian people do their thing.” 

Quoting Atiku’s tweet, the LP’s Lagos State governorship candidate in the last election, Gbadebo Rhodes-Vivour,  wrote: “We must form a united opposition to end this T-pain remix that we are all featuring in,” referencing the current hardship in the country.”

In a post via his X handle, Doyin Okupe, who served as Peter Obi’s campaign director but recently switched allegiance to President Bola Tinubu, offered a different perspective.

He said, “The politically naive, ignorant, or bigoted have always insulted me whenever I state that politics is a game, not religion. No permanent friends, no permanent enemies, only permanent interests! Interesting times ahead. We now move from Consumption to Absorption. End of discussion!” 

However, speaking with Daily Trust, Abdulrasheed Shehu clarified that there was no discussion about the 2027 election or a merger during Peter Obi and Atiku’s meeting on Saturday.

He noted that the two politicians would make their position on possible mergers known at the appropriate time.

He said, “There was no conversation around 2027. He only welcomed Obi to Yola and had breakfast with him, after which they went to AUN together where Obi gave a powerful lecture. But you know, Oga (Atiku) is the one who started the call for a coalition of opposition leaders after the 2023 general elections to defeat the APC in the next election. When the time comes, their position will be made known.” 

Barring any last-minute change of plan, the workers in the Federal Capital Territory,  Cross River, Nasarawa, Ebonyi, Kaduna and Zamfara states may down tools on Monday (today) following the failure of the state authorities to negotiate the payment of the N70,000 new minimum wage.

Though the implementation panels set up by the concerned states have been meeting with labour leaders in a bid to ward off the strike action, the various state chapters of the Nigeria Labour Congress have expressed their readiness to embark on a strike from today.

The FCT Council of the NLC had earlier directed the workers in the six Area Councils to embark on an indefinite strike on December 1 until further directives were issued.

This was contained in a letter signed by the Chairman of the FCT Council of the NLC, Stephen Knabayi, on Saturday.

This followed the directive of the NLC leadership to workers in 14 states and the FCT to embark on industrial action from Sunday over the non-implementation of the new minimum wage.

Knabayi faulted the failure of the area council chairmen to respond to the demand for the implementation of the minimum wage, despite receiving the communique of the National Executive Council of the NLC dated November 14, 2024.

The Nasarawa State chapter of the NLC on Sunday declared its readiness to declare a strike if the minimum wage was not paid.

The state NLC Chairman, Ismaila Okoh, disclosed that a notice of strike had been issued to all the labour members.

He, however, revealed that the Nasarawa State government had reached an agreement with the union to pay N70,500 to the workers, adding that no document had been signed regarding the implementation.

He said, “We have notified all our members to embark on strike tomorrow (today) because of the non-implementation of the national minimum wage in the state.

“Although the minimum wage committee set up by the state government has agreed to start paying N70,500, no document has been signed to that effect up till this moment.

“So, we are observing the situation to see if the documents on the minimum wage will be signed before tomorrow morning. However, if nothing is done between now and midnight, our members will have to fully comply with the strike as they were directed.”

To avert a shutdown, the Kaduna State Government said it had commenced the implementation of the new national minimum wage, with the least-paid worker in the state receiving N72,000 as gross salary in November.

The PUNCH reports that many states agreed to pay above the N70,000 minimum wage, with Kaduna State offering its workers  N72,000 as minimum wage.

Despite the positive development, the state chapter of the NLC confirmed its planned strike.

The state’s chairman of the NLC, Ayuba Suleiman, said the workers would embark on a strike as directed by the NLC leadership.

When asked if the NLC was prepared to embark on a strike, Suleiman replied, “Yes, we are set for the strike.”

However, a  statement on Sunday by Ibraheem Musa, the Chief Press Secretary to Governor Uba Sani, insisted it was “a misrepresentation  for the NLC to claim that  the state has defaulted in the payment of the new minimum wage.”

Musa noted that the state government had complied with the letter of the National Minimum Wage Law.

“His Excellency, the Executive Governor of Kaduna State, Senator Uba Sani, has complied with the spirit and letter of the National Minimum Wage Law, by paying the lowest paid civil servant N72,000 last month,” he said.

He added that the NLC had been pushing for consequential adjustments but the state government argued that there was a difference between salary increments and the minimum wage.

Musa explained that the state government received an average of N8bn from the Federal Allocation and generated around N4bn monthly, totalling N12bn  revenue.

However, he said with the implementation of the minimum wage, the monthly wage bill had increased from N5.4bn to N6.3bn, including N4bn deduction for loan payments every month.

This, he said, left only N2bn for rural transformation, healthcare, education, and other public services in the state.

“It will be unfair for Kaduna State Government to spend almost all its revenue on consequential adjustments, after paying the mandatory minimum wage.

“There are over 10 million people who are also entitled to the accrued revenue of Kaduna State. There are 84,827 civil servants in the state. So, it is unreasonable for the government to spend over 90 per cent of its revenue on just about one per cent of the population,” he added.

Musa urged the NLC to exercise patience over the consequential adjustments, pending when the state government’s revenue improved.

“Governor Uba Sani is labour-friendly. He has demonstrated this by providing buses for civil servants to commute to work free of charge, as part of the palliatives to cushion the prevailing economic challenges,” he said.

Meanwhile, the Chairman of the NLC in Ebonyi State, Dr Oguguo Egwu, disclosed that the state workers had been directed to join the ongoing industrial action from today.

According to him, the warning strike, which will last one week, was sequel to the failure of Governor Francis Nwifuru to implement the new national minimum wage.

He said, “Talking about the new national minimum wage as it concerns Ebonyi State, our governor on September 11 at the Ojiji festival of Izzi Kingdom announced the new minimum wage of N70,000 and we are all aware of that.

“We were very happy and excited that Ebonyi would be among the first states to implement the wage. But subsequently, there was no communication and no information.

“And we heard that the governor wanted to implement the national minimum wage without any due process of collective bargaining where both the workers and government angle would meet to agree on the consequential adjustment.”

Also, the Zamfara State NLC secretary, Ahmed Abubakar, said workers in the state had yet to receive the new minimum wage, and as such had no alternative but to join the strike.

He said, “We are going to join the strike as directed by the national body of our great union to express our anger over the non-payment of the new minimum wage.”

Abubakar, however, explained that the union would continue to dialogue with the state government on the issue.

The organised labour in Cross River is set for an industrial action over the non-implementation of the new minimum wage in the state.

The Cross River State Chairman of the Nigeria Labour Congress (NLC), Gregory Ulayi, disclosed that the union would embark on an indefinite strike if the state government failed to implement the new minimum wage to workers.

However, it was learnt that the state government reached an agreement with the state chapters of the NLC and TUC late on Sunday night to pay the N70,000 wage to its workers.

Calls to the NLC and TUC officials to clarify whether the state workers would still embark on strike were not answered as at the time of filing this report.

President Bola Tinubu says the good life that Nigerians thought they were living prior to his administration was fake and capable of collapsing the country.

Speaking on Saturday during the 34th and 35th combined convocation ceremonies of the Federal University of Technology Akure (FUTA) in Ondo state, Tinubu said the removal of the petrol subsidy and the unification of exchange rates were necessary to save Nigeria from the brink of collapse.

Tinubu announced the end of petrol subsidy on May 29, 2023, during his inauguration.

The Central Bank of Nigeria (CBN) also announced the unification of all segments of foreign exchange markets.

The president, represented at the event by Wahab Egbewole, vice-chancellor of the University of Ilorin, said his administration took decisive action to avert economic disaster and secure the future of Nigerians.

“As you are all aware, we took the baton of authority at a time when our economy was nose-diving as a result of heavy debts from fuel and dollar subsidies,” Tinubu said.

“The subsidies were meant to support the poor and make life better for all Nigerians. We are all aware of the fact that the poor and average Nigerians were the sufferers of what was supposed to give them succour and improved standard of living.

“Unfortunately, the good life we thought we were living was a fake one that was capable of leading the country to a total collapse unless drastic efforts were urgently taken.

“The need to salvage the future of our children, and bring the country back from the brink of collapse necessitated the strategic decisions to remove the fuel subsidy and also unify the exchange rates.  I am not unaware of the consequences of the tough decisions on our people. I sincerely wish there could be softer options.”

The president expressed optimism that the policies are already yielding positive outcomes.

He noted that the country’s macro-economic indicators are improving daily, while the micro-economy, which directly affects citizens, is gradually taking shape.

Tinubu added that Nigeria is transitioning from a consumption-driven economy to one focused on production across all aspects of human endeavours.

‘YOUTHS MIGRATION HAVE LED TO BRAIN DRAIN IN NIGERIA’

Tinubu called on the graduands to join hands together with his administration “to recover our lost glory and virtues.”

The president also condemned the widespread migration of youths in search of “greener pastures”, stressing that the trend has resulted into a significant brain drain in all sectors of the nation’s economy.

“​Many of our youths have chosen the supposed easy option of emigrating to the proverbial greener pastures where their citizens had rolled up their sleeves to bring their nations back from the brinks in their times of trouble,” Tinubu said.

“Such inclination has led to the brain drain syndrome that we now experience in all areas of our endeavours as a nation.

​“Our intellectuals and experts on whom the nation has massively invested huge resources to train in the interest of our country are migrating overseas in large numbers at a time their services are most required at home.

“It is heart-rending and the syndrome is not the solution to our problems. We are not Nigerians by accident, and I believe that the Almighty God who made us Nigerians has given us the required wisdom to turn things around for our betterment.

“The present challenges call for a high degree of patriotism and I can assure all Nigerians that there is light at the end of the tunnel. After rain comes sunshine. The brighter days are almost here.”

Tinubu said the renewed hope agenda is on track, assuring Nigerians that his administration will remain steadfast in its pursuit of a better and greater nation.

offloads equity in Lafarge to Chinese firm

Holcim, a Swiss building materials company, has agreed to sell its Nigerian business to Huaxin Cement Ltd., a Chinese firm.

The deal, valued at $1 billion, would lead to the sale of Holcim’s 83 percent stake in Lafarge Africa, according to a statement on Sunday.

Lafarge Africa Plc is a member of the Holcim Group — a maker of roofing and other housing products, such as cement, aggregates for construction and ready-mix concrete. 

The company said the agreement has been signed, noting that the transaction is expected to close next year.

“Holcim has signed an agreement with Huaxin Cement Ltd to sell its entire 83.81% shareholding in Lafarge Africa Plc, at an equity value of $1 billion on a 100% basis,” the statement reads.

“The transaction is expected to close in 2025, subject to customary and regulatory approvals.”

Holcim, however, did not give reasons for its exit.

On May 24, Kimberly-Clark, makers of Huggies, said it plans to stop localmanufacturing and sales in Nigeria after 14 years of operation.

According to the firm, the decision was made owing to its recently refocused corporate priorities globally as well as economic trends in the country.

Pick n Pay, a South African grocery retailer, in October, also announced plans to exit Nigeria by selling its 51 percent stake in a joint venture.

Sean Summers, chief executive officer (CEO) of Pick n Pay, said the move was part of plans to restructure outside of its home market.

In 2023, three pharmaceutical companies exited Nigeria.

GlaxoSmithKline (GSK) Consumer Nigeria Plc ceased operations and transferred its business activities to a third-party organisation.

Sanofi-Aventis Nigeria Limited, a French pharmaceutical company, also halted its direct operations in the country in November 2023.

One month later, Procter & Gamble (P&G), an American multinational consumer goods company, disclosed plans to transition from local production to solely importing its products.

Governor Babagana Zulum has revealed that the northern Governors need more time for consultations on the tax reforms proposed by President Bola Tinubu.

The Borno State Governor explained that this is why they advised President Tinubu to withdraw the bills so they could consult further.

Governor Zulum made the disclosure on Sunday while speaking as a guest on Channels Television’s Sunday Politics, adding that contrary to insinuations in certain quarters, the Governors are not against the administration of President Tinubu.

According to him, the north gave Tinubu over sixty percent of votes during the 2023 elections which is a clear indication of their support for him.

He, however, maintained that he wouldn’t withdraw his earlier statement on the proposed tax reforms in which he maintained that the bill would only be beneficial to Lagos State and would make other regions, including the north, suffer.

“On this tax issue, there are a lot of misconceptions. We felt that the VAT provision in the tax law. Based on the calculations that we did, only Lagos and Rivers States will benefit from this scheme. We did our own research and concluded that we would lose.

On the narration in some places that he is working against the government of President Tinubu, Zulum affirmed his commitment to the President and the All Progressives Congress (APC), submitting that the northern governors are not against President Tinubu.

“I am a strong member of APC. If you can count two governors before 2019 and 2023 who were in support of Tinubu, you can mention Governor Zulum. I was the first governor to come out publicly and say that power must go to the South.

“Unfortunately, the President was told by many that the North was against him. 60.2 per cent of his votes came from the north,” he submitted.

The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to direct a full disclosure of contractors and companies implicated in the disappearance of over N167 billion allocated for projects in 31 federal ministries, departments, and agencies (MDAs).

The funds were reportedly disbursed, but no projects were executed, according to the 2021 audited report by the Office of the Auditor-General of the Federation.

In an open letter dated November 30, 2024, signed by SERAP Deputy Director, Kolawole Oluwadare, the organization demanded that Tinubu instruct the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Accountant-General of the Federation, Oluwatoyin Madein, to publish the names of the contractors and shareholders involved.

SERAP is also urging the government to recover the funds and prosecute those responsible.

The letter highlighted a pattern of corruption documented in the Auditor-General’s report, revealing that contractors absconded with public funds allocated for projects in 31 MDAs.

The Nigerian Bulk Electricity Trading Plc (NBET) alone reportedly paid N100 billion to contractors for projects that remain unexecuted.

Other implicated agencies include the Nigerian Correctional Service, the National Pension Commission, the Hydrocarbon Pollution Remediation Project (HYPREP), and the Petroleum Technology Development Fund (PTDF), among others.

SERAP argued that this massive financial loss has exacerbated Nigeria’s development challenges, depriving citizens of essential services such as education, healthcare, and infrastructure.

“The names of the companies and contractors, along with their shareholders, must be published to ensure accountability and prevent a culture of impunity,” the letter read.

“Publishing these details will deter future corruption and demonstrate the government’s commitment to transparency,” the open letter added.

SERAP also called on the Attorney-General of the Federation, Lateef Fagbemi, SAN, to work with anti-corruption agencies to ensure that those responsible face justice.

The group emphasized that the funds must be recovered and returned to the national treasury for the benefit of citizens.

Failure to act, SERAP warned, would prompt legal action. “If no measures are taken within seven days, we will pursue all appropriate legal actions to compel the government to comply in the public interest,” the organization stated.

SERAP underscored the devastating impact of corruption on Nigeria’s development, noting that the diversion of funds has led to worsening inequality and inadequate public services.

“Corruption undermines economic progress, trapping millions of Nigerians in poverty and depriving them of opportunities,” the letter asserted.

The group also cited Nigeria’s obligations under the United Nations Convention Against Corruption (UNCAC) and the Freedom of Information Act, which mandate transparency and accountability in the use of public funds.

“Your government must show that it will not shield or tolerate wrongdoing by contractors or public officials,” SERAP urged.

The letter concluded by emphasizing that addressing these allegations is not just about financial recovery but restoring public trust in government institutions.

A chieftain of the All Progressives Congress (APC) in Osun State, Olatunbosun Oyintiloye, has lamented that the economic crisis in the country is becoming unbearable.

Speaking with newsmen on Sunday, he lamented that the cost of foodstuffs has increased significantly, making it difficult for the masses to afford good meals.

He called on the government to come together and rescue the masses by providing solutions to the challenges in the country.

“The rise in food prices is mostly caused by insecurity, high cost of transportation of the products, climate change, and the instability of the exchange rate of naira,” he said.

Speaking further, he added that the astronomical rise in the food prices had battered the purchasing power of citizens, leading to uncertainty, an increase in poverty, and a high cost of living.

He said that with food as a primary resource for human survival, the government at every level should undertake tangible programmes to defeat hunger in the land.

According to him, “A recent survey conducted by the National Bureau of Statistics (NBS) also confirmed that food prices have risen by over 100 per cent”.

Oyintiloye said the 2023/24 General Household Survey-Panel, commonly called (GHS-Panel), launched on November 25, 2024, in Abuja, revealed that “65.8 per cent of the households were unable to eat healthy, nutritious, or preferred foods because of low income”.

The APC chieftain said that while the President Bola Tinubu-led administration is doing everything possible to bring down the food prices, many Nigerians are still struggling to eat three square meals.

Oyintiloye said that despite the food waiver policy being implemented by the Federal Government and the Central Bank’s intervention to curb inflation through the monetary policy, the prices of foodstuff is still on a very high side

“The exchange rate fluctuations further exacerbate this issue, particularly affecting the prices of imported food items.

“The situation on the prices of food is becoming worrisome and extremely unbearable for the masses.

“Many households can no longer afford nutrition meals, while many are begging for survival. This is pathetic and no longer bearable for the masses.

“I urge governors and the Federal Government to intensify efforts to stop further increase in the cost of food items. The situation may worsen if factors leading to the increase are left unattended to,” he added.