Former President Muhammadu Buhari has advised Nigerians to keep growing their own foods and control population growth.
The former President expressed satisfaction that a considerable number of Nigerians have embraced farming once again.
Buhari, however, expressed deep concern over the unchecked rise in population within the nation, saying the situation now calls for immediate attention.
He spoke to journalists after participating in the Kofor Arewa Eid prayer in Katsina on Sunday, in light of the current conditions in the nation.
“The need for greater discussion and awareness about this problem, (uncontrolled population growth) as well as a need to invest more in education and health.
“Let us grow our own food. We have shown that we can do it. This is not the time to relent when we see prices going up. Let us buy what is produced in the country.
“The foundation of a prosperous and stable country has been laid by successive governments, and I encourage our youth, in particular, to continue to play an active role in various nation-building efforts,” he said.
The Academic Staff Union of Universities (ASUU) has voiced disappointment regarding the composition of the newly constituted governing councils for federal universities across Nigeria.
ASUU’s national president, Prof Emmanuel Osodeke, expressed these concerns in a recent interview with the Nigerian Tribune, highlighting a worrying trend in the appointment process.
According to Prof Osodeke, the new list of council members is dominated by retired politicians rather than experts in academia or relevant fields.
“Most of them are retired politicians. They are honourable this and honourable that,” Osodeke remarked, questioning the suitability of such appointments for the strategic development of higher education institutions in the country.
Prof Osodeke further criticized the new list as being worse than its predecessor, indicating a regression rather than progress in the appointment policies.
“Go and look at the list again, you will see that most of them are retired politicians. That is how terrible the thing has become,” he lamented.
ASUU also raised issues beyond the qualifications of the appointed individuals. The union pointed out that the formation of new councils was procedurally flawed and possibly illegal.
The Federal Government had dissolved the previous councils over ten months ago before their tenures had expired, contrary to the stipulations of the University Act.
ASUU argued that these members should have been allowed to complete their terms instead of assembling a new council, which seems to overlook legal frameworks.
The union emphasized that university education should not be subject to partisan politics if Nigeria aspires to achieve real educational quality that can lead to economic prosperity.
“We can’t run our universities like this if we truly want genuine development to take place,” Prof Osodeke stated, urging a reevaluation of how university councils are constituted.
The lawmaker representing Ekiti Central senatorial district and Senate Leader, Opeyemi Bamidele, on Sunday, pleaded with the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), to accept whatever the federal government offered them above ₦60,000 as the new minimum wage.
Bamidele urged organised labour to toe the path of dialogue and peace in the negotiation for a new minimum wage, for which President Bola Tinubu had promised to send a bill to the National Assembly.
He reiterated the need for Nigerians to demonstrate more patriotic spirit and oneness in their daily activities as the nation journeys through its socio-political trajectory towards the promised land.
Bamidele, who made the call in his Eid-el-Kabir message yesterday, said: “The federal government has conceded to N60,000, which translates to a 100 per cent increase. But both NLC and TUC turned down this offer, leading to a two-day industrial action.
“The federal government has promised to make more concessions in this respect. As the federal government reveals its new offer, I plead with organised labour to accept it in the national interest.
“The economy will remain in this condition. Collectively, we are taking multi-pronged measures to reverse disturbing economic indicators.”
Naija News reports that labour had vowed to reject the ₦62,000 offered by President Tinubu-led government.
President Bola Tinubu has been appealed to by the leader of the Ijaw nation, Edwin Clark, to direct the Attorney General of the Federation, Lateef Fagbemi, to file a nolle prosequi for the release of the leader of the Independent People of Biafra (IPOB), Nnamdi Kanu.
Clark urged Tinubu to ask the Attorney General of the Federation to file a nolle prosequi to release the detained IPOB leader, noting that his (Kanu’s) freedom on political grounds was long overdue.
This was contained in a second letter to the President on Sunday, following a first in which the elder statesman urged the President not to tow the path of his predecessor, President Muhammadu Buhari, who marginalised and subjugated the Igbos, by exempting them from certain appointments.
He said, “The release of Nnamdi Kanu by Mr President on political grounds is overdue as earlier explained. Mr President should direct the Attorney General to enter a nolle prosequi to free Nnamdi Kanu who has shown his intention to work with the Federal Government, to bring peace and stability in the South-East and to Nigerians as a whole, as it has been recently done in similar cases of treasonable felony as in the case of Miyetti Allah president, Abdullahi Bello Bodejo of Nasarawa state.”
In his letter, Clark said the move would complete the reconciliation of Nigeria and end the sit-at-home order in the Southeast.
He said the IPOB had “fashioned a place for itself” in the hearts and minds of young people, because of the short-changing of Igbos from the South East over the years while urging the use of the “carrot and stick approach”, rather than military force, in addressing the agitations in the region.
“Apart from demanding the restructuring of Nigeria, the political freedom of Nnamdi Kanu will no doubt complete the reconciliation of Nigeria and bring an end to the needless Monday sit-at-home order, which has disturbed businesses and civil activities in the South-East.
“The short-changing of the Igbos of the South East over the years is the reason why IPOB has fashioned a place for itself in the hearts and minds of the young people in the Southeast with its demand for self-determination. I have physically seen these IPOB boys in action, at the Ekwueme Square in Awka, Anambra State, when I attended a meeting of the Southern and Middle Belt Leaders Forum there.
“None of these youths witnessed the civil war and are, definitely, not abreast with the history of the war and its full ramifications. I advise, therefore, that rather than the use of military force which has already proved counter-productive, they should be carefully treated with the “carrot and stick approach”, in the interest of the peace, stability, and progress of Nigeria as a whole and the Southeast zone in particular.”
Clark further emphasised the importance of reintegrating the Igbos into the mainstream of Nigeria, in which their region would be equal with other regions in the country, noting that anything short of that would not be in the interest of the country.
“Let me re-emphasize the importance and urgency of reintegrating the Igbos into the mainstream of Nigeria where their region will be equal with other regions in all ramifications, meaning that they should be fully and unconditionally united or be admitted into the Union of Nigeria as it was before the civil war.
“Anything short of that is not in the interest of a united Nigeria and there may be no end to the insecurity in Nigeria.”
He also called for the restructuring of Nigeria, of which he said the President had also been a principal advocate before becoming Senator and the Governor of Lagos state, adding that restructuring the country “will be one of your most enduring legacies when you leave office”.
“Mr President you have always been the principal advocate of restructuring even before you became Senator of the Federal Republic of Nigeria and Governor of Lagos State.
“During your time, you passionately advocated for a Sovereign National Conference, which was even more inclusive than the current restructuring we are demanding, in Nigeria. Undoubtedly, this pursuit of restructuring will be one of your most enduring legacies when you leave office,” he added.
The Presidency has stated that the ₦250,000 minimum wage clamour by Organised Labour is unsustainable and such a demand cannot be met.
The Federal Government warned that they cannot channel all their resources to meet such a demand.
Speaking during an interview with Punch, the Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, insisted that it was selfish for Labour Congress and the Trade Union Congress to demand that resources meant for Nigerians should be channeled to only the benefit of their members who are not more than 10 per cent of the entire population.
The presidential media aide also said the Federal Government might not meet the Labour leaders again unless something cogent turned up.
He said, “That is why we keep telling labour to be realistic because the government cannot use all its resources to pay workers. They have other things to do. The workers we are even talking about are not up to 10 per cent of the population. Many people are self-employed or engaged in the private sector, who are not members of Labour, and are not affected by this demand.
“This is even more reason why labour has to reconsider their decision critically instead of always striving to shut down the system. What the FG did was in consultation with the private sector and others. Only Labour, which appears to be in the minority, kept saying they won’t accept N62,000. They are not even employers but employees.
“Let us wait and hear what they are going to say after their return from the ILO conference. But they have to be realistic.”
Tinubu had disclosed during his Democracy Day that an executive bill on the new national minimum wage for workers would be sent to the National Assembly.
When quizzed on when he plans to transmit the bill, Onanuga said though he could not give a particular date, he sees it happening after the Sallah break.
“I am not certain when he plans to do it (Bill). May be after Sallah. But I am not sure whether the FG is meeting with them or whether its position on the minimum wage has changed. Don’t forget the current amount on the table was arrived at by the committee that also has the private sector where the NECA and NACIMMA were also represented.
“That was the figure the FG delegation, sub-nationals, employers, NECA and other sectors agreed on. So, the FG cannot just decide on any other amount of money on its own without carrying these people along. And the government cannot just decide anything without ensuring that the state and local governments are able to pay,” he said.
…Says Obaseki taught him new political realities
FORMER Deputy Governor of Edo State, Rt Hon Philip Shaibu on Sunday said he would be supporting the candidate of the All Progressives Congress (APC), Sen Monday Okpebholo ahead of the Labour Party (LP) candidate, Olumide Akpata because according to him, Okpebholo, popularly called Akpakomiza possess the characteristics of the homeboy needed to take over governance in Edo State.
Shaibu spoke to journalists on the sidelines of the Fathers’ Day celebration at the St Paul Catholic Church in Benin City.
He said the candidate of the Peoples Democratic Party (PDP), Asue Ighodalo is a product of godfatherism, a lexicon he said has been eradicated from the political history of the state which he said former governor, Comrade Adams Oshiomhole preached and which he joined the governor to stop in the 2020 election adding that he has also learnt new political strategies from Governor Obaseki.
According to him, “I am a very good learner and learning is what is most important in our lives, We must continue to learn till we die, the governor of Edo State. Mr Godwin Obaseki says everybody has the right to support whoever he wants to support but he also forgot that he doesn’t have the right to stop anybody from supporting whoever he wants to support so it is my right to also decide who I want to support.
“I will support a homeboy, I came in to contest to be governor of Edo State because I needed governance to return to a homeboy, somebody that understands our plight, somebody that understands what the people are feeling, even the United Nations talks about needs assessment, we don’t want an outsider, we have experimented with an outsider and it is not working, so this time, we want a homeboy, I came into the contest as a homeboy but today, we have only two home boys in the major political parties; one is in the Labour Party LP) and one is in the All Progressives Congress (APC), and I chose to follow the home boy in the APC, the man they are parading in the PDP is an outsider and we have also agreed that no more godfatherism in Edo and the man PDP is parading, is the godson of Obaseki and there is no way a godson can be governor of Edo State again.”
On whether he would not be accused of anti-party activity since he is still a member of the PDP, Shiabu said “No, it is not anti-party because I know that in the last election, the governor was one leg in the Labour Party and one leg PDP so it can’t be anti-party now.”
On the capacity of Okpebholo he said “Enough of English that takes us nowhere, we are talking about governance, the man that understands the plight of the people, he who wears the shoes knows where it pinches, a man that has never voted, how can he be seeking for our vote, and we are comparing him to a man that is a sitting senator who is a homeboy. When Akpata and Akpaomiza get home to their people, they speak their language, I have chosen one out of the two because I see Akpakomiza as an innocent politician, somebody that is grass-rooted, somebody that is truly a homeboy”
Chairman of the Tripartite Committee on National Minimum Wage, Bukar Goni Aji, has asked Labour to reconsider the amount it demanded as minimum wage, citing the prevailing economic situation in the country.
He listed such incentives as the N35,000 wage award for all treasury-paid federal workers, N100 billion for procurement of gas-fuelled buses and conversion to gas kits, the N125 billion conditional grant, financial inclusion to small and medium scale enterprises and the N25,000 each to be shared to 15 million households for three months as reasons Labour should accept the N62,000 offered by the government, against its demand of N250,000.
But Labour in a swift reaction, accused the Tripartite Committee chairman of lacking knowledge of the hardship and suffering workers and other Nigerians were going through.
Recall that organised labour is a member of the tripartite committee of a new minimum wage.
Labour’s reaction came as Minister of Budget and Economic Planning, Atiku Bagudu, said lean resources were responsible for governors’ rejection of N62,000 minimum wage.
This is even as the Anglican Communion yesterday asked the federal and state governments to pay workers a living wage, charging them to maintain fiscal prudence and accountability.
However, the Tripartite Committee chairman also cited the N185 billion palliatives loans to states to cushion the effects of fuel subsidy removal and N200 billion to support the cultivation of hectares of land to boost food production.
He said there is another N75 billion to strengthen the manufacturing sector and N1 trillion for student loans for higher education.
He cited the release of 42,000 metric tonnes of grains from strategic reserves and purchase and onward distribution of 60,000 metric tonnes of rice to the millers’ association.
Goni urged Labour to consider the recent salary increase of 25 per cent and 35 per cent on all consolidated salary structures for federal workers and the 90 per cent subsidy on health costs for federal civil servants registered on the health insurance programme and accept the N62,000 being offered by the Federal Government.
He said the light rail commissioned in Abuja is to relieve transportation costs until end of the year, describing it as a landmark achievement that will cushion the effect of the removal of fuel subsidy.
He said in addition to “the freedom of civil servants to engage in agriculture, the Federal Government has approved the inclusion of ICT services for alternate sources of income”.
He said the committee agreed that where major and small businesses were closing down with the consequent loss of jobs, the outcome of a new minimum wage should be such that it would not trigger further massive job losses.
He further said that linking the strike to electricity tariff hikes with the wage determination was not fair to the negotiating parties.
You‘re ignorant of hardship in Nigeria, Labour tells c’mittee chairman
Replying to the Tripartite Committee chairman yesterday, Labour insisted that its demand was based on the nationwide survey which delineated the stark economic realities for the average Nigerian family.
Speaking on behalf of Labour, one of Labour’s negotiators in the Tripartite Committee tasked the chairman to urge the government to make its offer reflect the economic conditions and the cost of living faced by workers
He said: “We have carefully considered the chairman’s appeal for organised labour as represented by Nigeria Labour Congress, NLC, and Trade Union Congress of Nigeria, TUC, to take into account the prevailing economic realities in the ongoing national minimum wage negotiations with the federal government and the organised private sector.
“We understand the complexity of the economic situation. However, it is imperative to address several critical points that underpin our stance.
“The call for NLC and TUC to consider economic realities is, at best, a reflection of a limited understanding of the actual hardships faced by Nigerian workers. The nationwide survey we conducted clearly delineates the stark economic realities for the average Nigerian family.
“The cost of living has escalated dramatically, driven by governmental policies that have led to increased prices of petrol, higher electricity tariffs, and a significant devaluation of the naira.
These policies have created a situation where basic needs of workers are increasingly unaffordable.
“Our demand for a national minimum wage of N250,000 is not arbitrary but firmly grounded in the economic realities dictated by the current market prices of essential goods and services.
“The prices of basic commodities have skyrocketed, and the purchasing power of the average Nigerian worker has been severely eroded. It is crucial to recognize that Labour’s demand is based on comprehensive data reflecting the true cost of living in Nigeria today.
“We may wish to remind the chairman that a bag of 50kg Rice is about N80,000, a decent tuber of yam is about N7, 000; garri is N3,500 for half paint bucket, bread is N2,000 per loaf, meat is about N6,000/kg, oil is about N2,000/75L, electricity is about N50,000/month, while transport is about N3,000 daily to and from Gwagwalada to Berger in Abuja and N4, 000 from Ipaja to Lagos Island daily etc.
“The chairman should know that our wages are supposed to meet these basic needs and others and these are some of the realities that he asked us to base our demands on which we have done since the beginning of the negotiation exercise.
“It is rather disappointing that government’s offer appears disconnected from these market realities. When we requested a breakdown of what constitutes the government’s offer, the response was not forthcoming.
‘’This lack of transparency suggests that the government is perhaps aware that its offer does not meet the basic economic needs of Nigerian workers, thereby undermining its credibility. Perhaps, government may be ashamed of the paltriness of the offer it is making to Nigerian workers, thus it is too heavy for them to mention.
“We urge you to redirect your advice towards the government to be realistic in its approach to this negotiation. The government’s offer should reflect the actual economic conditions and the cost of living faced by workers.
“It is not the NLC that is being unrealistic; rather, it is the government’s offer that fails to align with the economic dictates of the marketplace. A realistic and fair minimum wage must be grounded in the current economic realities, which our demand of N250,000 though falls short of what we had intended but accurately represents realities at this time. As it is, we have considered more than enough.
“We wish the government will at least show the kind of willingness to sacrifice that we have exhibited and reciprocate. Good leaders make sacrifice for the citizenry. They must give up on some of their security votes, their luxury yacht, convoys, private jets and other creatures of comfort so that Nigerian workers and people can benefit.
“We plead with the chairman to urge the government to be realistic and refuse the temptation to seek to pay a starvation wage to Nigerian workers. Our nation must not be destroyed so that the few individuals in government will continue to live in opulence while workers and citizens suffer.
“We reiterate that the NLC’s position is driven by a deep understanding of the economic hardships faced by Nigerian workers, as substantiated by our nationwide survey.
‘’We stand firm in our demand for N250,000 as the national minimum wage and urge the government to present a realistic offer that genuinely reflects the cost of living and the dignity of Nigerian workers. ‘’We call upon the Tripartite National Minimum Wage Negotiation Committee Chairman to advocate fairness and transparency in this critical wage setting exercise. The resources of our nation need to be equitably and fairly distributed for national development.”
Lean resources responsible for govs rejection of N62,000 minimum wage — Budget minister
Speaking on the issue in Birnin-Kebbi, Kebbi State, weekend, the Minister of Budget and Economic Planning, Senator Atiku Bagudu, said lean resources were responsible for governors’ rejection of N62,000 minimum wage offered by the federal government.
Speaking against the background of new minimum wage for Nigerian workers, Senator Bagudu explained that the N62000 arrived at was reluctantly accepted by states and local governments due to limited resources accruing to them.
He said: “The constitution has made provision to guide the President to send legislation to the National Assembly periodically on issues of minimum wage for the best outcome.
“The Tinubu administration wants all Nigerians to be skilled as its first priority under a skill based economy where the people, including workers, can earn millions of naira
“The President intends to make Nigerians more prosperous with cheap housing, cheap food, cheap transport and availability of structures for national growth and development.
“President Tinubu and Governor Nasir Idris of Kebbi State are doing the very best to improve the living condition of the people in all sectors of life, I commend and congratulate them on the occasion of the Eid-el Kabir.’’
Anglican Church demands living wages for workers
Meanwhile, the Orthodox Anglican Communion has charged the federal and state governments on the need to maintain fiscal prudence and accountability, saying it would be good if the government gave Nigerian workers a living wage.
The church made the demands in a communique issued at the end of the First Session of the First Synod of its Diocese on the Confluence which held at the Cathedral Church of the Enlightened Christian in Ajaokuta, Kogi state.
The communique, jointly signed by the Diocesan, Most Rev Dr. Moses Suberu and the Clerical Synod Secretary, Rev Canon Abraham Ornyor, read: “The synod calls the governments to come to terms and logical conclusion with the organized labour as regard the national minimum wage.
‘’The synod calls on the present dispensation to give Nigerians a living wage and something worth going home with. Nigerians should not be slaves in their homeland
“The Synod, therefore, calls on the government at all levels to ensure discipline, prudence and accountability in the use and disbursement of government resources. Also, production at a levels should be encouraged while all aspects of agriculture should be developed to enhance our national economic fortunes.”
It, however, appreciated efforts of both the federal and state governments in tackling the menace of kidnapping and banditry in all parts of the nation.
“The Synod calls on the citizens of Nigeria to abide by all security measures put in place to safeguard the nation. When you see something, say something
“The increasing rate of poverty in Nigeria which has turned Nigeria into the poverty capital of the world is unacceptable. The Synod, therefore, calls on both the federal and state governments, including the local governments, to put schemes in place to empower Nigerians.
“The Synod views with concern the deplorable conditions and state of our basic infrastructure such as our highways, electricity, medical institutions and facilities and our educational institutions.
“The Synod, therefore, calls on the federal and state governments to hasten the completion of all on-going road projects and ensure the rehabilitation of existing roads. The need for steady supply of power should also be looked into by the regulatory bodies to ensure that the private power distribution companies abide with the regulations to guide their operations and relationship with consumers.
“While appreciating the federal government for the efforts made so far in the resuscitation of the Ajaokuta Steel Company and Itakpe Iron Ore, the Synod calls on the federal government to expedite action for the immediate take off of these two giants of our economic and technological base.
“The Synod calls on the federal government to reinforce the strategy of federal security and also devolve powers to the state for the establishment of supportive security outfits at the local level to compliment the efforts of the federal security agencies to stem this tide of insecurity.
“The Synod views with grave concern the unending and systematic persecution of Christians in the northern part of the nation and calls on the federal government to halt this evil,” the communique added.
Minimum wage: Accept whatever FG offers you above N60,000, Senate leader tells NLC, TUC
Also, the Senate Leader, Sen. Opeyemi Bamidele, APC, Ekiti Central, yesterday pleaded with the Nigeria Labour Congress, NLC and the Trade Union Congress, TUC, to accept whatever the federal government offered them above N60,000 as the new minimum wage.
Bamidele urged the NLC and TUC to toe the path of dialogue and peace in the negotiation for a new minimum wage, for which the President had promised to send a bill to the National Assembly.
He reiterated the need for Nigerians to demonstrate more patriotic spirit and oneness in their daily activities as the nation journeys through its socio-political trajectory towards the promised land.
Bamidele, who made the call in his Eid-el-Kabir message yesterday, said: “ The federal government has conceded to N60,000, which translates to a 100 per cent increase. But both NLC and TUC turned down this offer, leading to a two-day industrial action.
“The federal government has promised to make more concessions in this respect. As the federal government reveals its new offer, I plead with organised labour to accept it in the national interest.
‘’The economy will remain in this condition. Collectively, we are taking multi-pronged measures to reverse disturbing economic indicators.”has conceded to N60,000, which translates to a 100 percent increase. But both NLC and TUC turned down this offer, leading to a two-day industrial action.”
A Special account with $2.9 billion deposit has been created by the Central Bank of Nigeria (CBN) to stabilise the foreign exchange (forex) market.
The apex bank, which identified the special account as Gazelle Funding Account, dropped the hint during the last Federation Account Allocation Committee (FAAC) meeting.
The Nation learnt that the revelation was made after the FAAC Post Mortem Sub-Committee members noticed in last month’s report from the Nigerian National Petroleum Company Limited (NNPCL) that proceeds from Production Sharing Contract (PSC) Tax and Royalty sales were transferred to the Gazelle Funding account.
The CBN backed NNPCL’s explanation, stating further that the Federal Government secured the $3.3 billion loan from Afrexim Bank to stabilise the forex market.
The sub-committee report said: “The structure of the loan requires NNPCL to deposit PSC Royalty and Tax proceeds into the Gazelle Funding account. From these deposits, 90 per cent will be released to NNPCL and CBN, while 10 percent will go towards repaying the loan.”
Members of the FAAC sub-committee, who recognised the potential benefits of special funding for forex stability, however raised concerns about the process and transparency of the loan arrangement.
“Representatives from states and local governments noted that they had not been informed about the loan prior to this meeting,” a source told The Nation.
Responding to the concern, the sub-committee has asked the NNPCL to organise a stakeholders’ meeting to offer a platform to inform all relevant parties about Project Gazelle Funding and explain the purpose, structure and repayment plan for the loan.
The source said: “The goal is to ensure transparency and accountability. The stakeholder’s meeting is expected to address several issues, including: The criteria used to justify the $3.3 billion loan amount; the selection process and reasons for using a special purpose vehicle for the loan; the long-term implications of using future oil sales as collateral and measures to ensure transparency and accountability in managing the loan.
On June 6, the African Export-Import Bank (Afreximbank) announced the release of an additional $925 million for Nigeria’s oil-backed prepayment facility into the Project Gazelle Funding account. This facility is originally sponsored by the Nigerian National Petroleum Company Limited (NNPCL).
“This latest disbursement brings the total amount funded under the syndicated $3.3 billion prepayment facility to $3.175 billion. Afreximbank coordinated the facility under an ‘accordion’ arrangement and gathered $925 million from a group of lenders that includes notable companies like Oando Group and Sahara Energy Resource Limited.
“This ‘accordion disbursement’ allows Nigeria to potentially ‘stretch’ the loan amount beyond the $3.3 billion within a set limit, depending on their needs and the approval of the lenders.
“This feature allows Nigeria to access additional funds if needed, without renegotiating the entire loan agreement. Knowing there’s potential for an increase can help with more flexible financial planning for Nigeria. While the agreement allows for additional disbursements, it doesn’t guarantee them. The lenders (oil consortium) have a say in whether or not to approve the increase.”
President/Chairman of Board of Directors, Afreximbank’s Prof Benedict Oramah, highlighted the significance of the development.
Oramah, who emphasized that it showed the bank’s vital role in supporting development across Africa, stated: “This milestone demonstrates the bank’s capabilities as a crucial development partner for Africa. It reaffirms our commitment to assisting our member states in achieving economic growth and stability. This funding will greatly support Nigeria’s short and long-term economic development priorities.”
He praised the original facility, calling it a “landmark” for being the largest crude oil-backed facility in Nigeria and one of the largest syndicated debts in Africa.
“This project underlines the importance of such financial structures in fostering economic development and stability in the region”, Oramah said.
The Project Gazelle Funding Limited is a key part of Nigeria’s strategy to leverage its oil resources for economic growth.
The funds will be used to support various development initiatives and stabilise the country’s foreign exchange market.
The governor of Rivers State, Siminalayi Fubara, has said that he is not obsessed with power.
According to him, he does not exercise absolute power in controlling the people of the state but plays the role of a watcher over its affairs for the betterment of its citizens.
The governor opined that those who seek absolute power, eventually become obsessed with it and end up trampling on the rights of the people.
He stated this at a child’s dedication service at the Royal House of Grace International Church in Rumueme Community, Obio/Akpor Local Government Area of the State on Sunday.
According to him, “For us, by the special grace of God, He has placed us, today, to watch over the affairs, not to control, but watch over the affairs of this State. I am not controlling, but watching the affairs, and I will watch through the fear of God.
“I will watch, understanding that one day, I will leave and account for the way I had watched over the affairs for all of us.
“It’s when you are of the mind of controlling power, that you will become obsessed. But when you are watching, you know that one day, you will leave, and another will take over.
“So, I will watch with the fear of God, and I will make every one of you proud. I will make a difference in leadership, and that difference will be to give everybody the opportunity to be free in this State.”
Fubara asserted that no administration in the State has ever been subjected to the ordeals it is experiencing but stressed that the confidence to pull through is rooted in the spirit to stand in the strength of God continually.
“No man is more powerful than God. And even the heart of that wicked and heartless man, or whatever you want to call it, is in the palm of God’s hand.
“It’s like a water that God turns in directions He wants. So, it’s only God that will continue to help us. And I know that He will lead us to a successful end.
“Nothing happens without God. He is a perfect designer. Before anything happens, He knows the end from the beginning. He already knows where he is going,” he added.
Governor Fubara, who urged the church to continue to pray for his administration because God has already taken charge, said Rivers State and its people are truly liberated by God.
The Governor, while assuring of upholding what is right and just for the interest of the State, on behalf of the State Government, donated the sum of ₦100million support to the church.
The Presidency has reacted to a report published in the New York Times criticising the Nigerian economy as facing the worst trajectory in a generation.
Special Adviser to the President on Information and Strategy, Bayo Onanuga, responded on Sunday to the report by Ruth Maclean and Ismail Auwal.
According to the Presidency, the feature story, titled ‘Nigeria Confronts Its Worst Economic Crisis in a Generation’ and published on June 11, reflected the typical predetermined, reductionist, derogatory, and denigrating way foreign media establishments have reported on African countries for decades.
Onanuga stated that due to the ‘misleading’ slant of the report, the government needed to clear up some misconceptions conveyed by the reporters regarding the economic policies of President Bola Tinubu’s administration, which took office at the end of May 2023.
He noted that the report painted a dire picture of some Nigerians’ experiences amid the inflationary spiral of the last year and unfairly blamed it all on the new administration’s policies.
He argued that the report, based on several interviews, is at best jaundiced, portraying all gloom and doom without mentioning the positive aspects of the economy or the amelioration policies being implemented by the central and state governments.
Onanuga emphasized that Tinubu did not create the economic problems Nigeria faces today but inherited them.
“As a respected economist in our country once put it, Tinubu inherited a dead economy.
“The economy was bleeding and needed quick surgery to avoid being plunged into the abyss, as happened in Zimbabwe and Venezuela,” he noted.
He explained that this context led to the policy direction taken by the government in May/June 2023, including the abrogation of the fuel subsidy regime and the unification of the multiple exchange rates.
Onanuga highlighted that Nigeria had maintained a fuel subsidy regime for decades, which consumed $84.39 billion between 2005 and 2022 from the public treasury, in a country with significant infrastructural deficits and a high need for better social services.
He also alleged that the state oil firm, NNPCL, had accumulated trillions of Naira in debts due to unsustainable subsidy payments.
He noted that when Tinubu took office, no provision was made for fuel subsidy payments in the national budget beyond June 2023.
“The budget itself had a striking feature: it planned to spend 97 per cent of revenue servicing debt, with little left for recurrent or capital expenditure. The previous government had resorted to massive borrowing to cover such costs.”
Onanuga further explained that like oil, the exchange rate was also subsidized by the government, with an estimated $1.5 billion spent monthly by the CBN to defend the currency against the unquenchable demand for the dollar.
“This low rate led to arbitrage and failures to fulfil remittance obligations to airlines and other foreign businesses, drying up foreign direct investment and investments in the oil sector.
“To address these issues, Tinubu rolled back the subsidy regime and floated the naira on his first day”, Onanuga said.
Despite initial challenges, Onanuga noted that some stability is being restored, with the exchange rate now below N1500 to the dollar and prospects for further appreciation.
He cited a trade surplus of N6.52 trillion in Q1, as opposed to a deficit of N1.4 trillion in Q4 of 2023, and renewed interest from portfolio investors as indicators of improving economic confidence. Loans from the World Bank, AfDB, and Afreximbank are also contributing to Nigeria’s renewed bankability.
Onanuga highlighted efforts to control inflation, especially food inflation, through increased agricultural production and state-led initiatives to sell food at lower prices.
“The Tinubu administration has invested heavily in dry-season farming and provided incentives to farmers.”
He concluded by comparing Nigeria’s economic challenges with those faced by the USA and Europe, emphasizing that the Tinubu administration is working hard to overcome these difficulties.
“Our country faced economic difficulties in the past, an experience captured in folk songs. Just like we overcame then, we shall overcome our present difficulties very soon.”
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[STATE HOUSE PRESS RELEASE] Eid-El-Kabir: President Tinubu Observes Prayers, Calls for Love and Charity to the Vulnerable
Admin![[STATE HOUSE PRESS RELEASE] Eid-El-Kabir: President Tinubu Observes Prayers, Calls for Love and Charity to the Vulnerable](/media/k2/items/cache/4cb350be5285b4ea1dfe736fd1daac79_XS.jpg)
President Bola Ahmed Tinubu has called on Nigerians to show more care for their neighbours and extend charity to all in the spirit of Eid-el-Kabir.
Speaking with journalists after Eid-el-Kabir prayers in Lagos on Sunday, the President said some level of sacrifice will be required to move the nation forward.
"We have been told by the Chief Imam how we can follow the path of sacrifice. The sacrifice required of a good citizen. Citizenship comes with responsibilities. As citizens, what do we need to do to be committed members of our society? Yes, that is sacrifice; loving your country. Loving your neighbours. Sharing what you have with each other. And to always be thankful to Almighty God," the President said.
In his sermon, the Chief Imam of Lagos State, Sheikh Suleiman Oluwatoyin Abou-Nolla, who led the prayers, reiterated the need for more love, sacrifice and care for the poor and the vulnerable.
"Our leaders like the late Sir Ahmadu Bello, Abubakar Tafawa Balewa, Dr. Nnamdi Azikiwe, Moshood Kashimawo Olawale Abiola, Funmilayo Ransome Kuti, to mention a few, sacrificed their knowledge, wealth, sweat, and even life, to the growth and development of the country we call ours today. All their activities and actions were geared towards nation-building.
"We must therefore ensure that their sacrifices are not in vain. It is incumbent on us to follow their footsteps to ensure that this nation, Nigeria, continues to grow in leaps and bounds," he said.
The Chief Imam of Lagos urged citizens to pray that God Almighty grant the President the strength and wisdom to deliver on his vision for a better and prosperous nation.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
The tripartite committee established by the federal government to review the minimum wage has urged labour unions to reassess their wage demands.
Speaking with NAN on Sunday, Bukar Aji, the committee’s chairman, asked labour to reconsider their position based on economic factors and the non-monetary incentives provided by the government.
Aji highlighted several incentives of the government, including the N35,000 wage award for all treasury-paid federal workers, N100 billion for gas-fuelled buses and gas kit conversions, a N125 billion conditional grant, financial inclusion for small and medium enterprises, and a N25,000 monthly stipend for 15 million households over three months.
He also listed the N185 billion in palliative loans to states to mitigate the effects of petrol subsidy removal, N200 billion to boost agricultural production, N75 billion to strengthen the manufacturing sector, and N1 trillion for student loans, among other interventions.
Aji called on the labour unions to consider accepting the N62,000 minimum wage offered by the federal government.
He said the committee is trying to avert a situation where the minimum wage would lead to further job losses, especially as many businesses are already struggling.
BACKGROUND
In January 2024, the federal government inaugurated a 37-member tripartite committee on the national minimum wage.
The committee was tasked with the responsibility of recommending a new minimum wage for Nigerian workers.
Over the past few months, the federal and state governments, organised labour and representatives of the private sector have been deliberating on a mutually acceptable sum.
However, the demand by organised labour is yet to be met.
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On June 3, the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) embarked on a nationwide strike to protest the federal government’s inability to meet their demand.
Twenty-four hours later, the labour unions “relaxed” the strike by one week.
Both unions had earlier proposed N615,500 and N494,000, respectively, as the new minimum wage, which the federal government said was unrealistic.
On June 7, the federal government increased its offer from N60,000 to N62,000, while the labour unions insisted on N250,000.
In a recent interview with Vangurd Newspaper, Chief Iyiola Ajani Omisore, the immediate past National Secretary of the All Progressives Congress (APC), revealed that the party spent approximately N9 billion on legal fees for 10,000 cases arising from its congresses.
Omisore, who served as a senator between 2003 and 2011 and was the Deputy Governor of Osun State from 1999 to 2003, discussed various issues concerning the party and the nation, including the 2022 APC presidential primary and the challenges faced by the party during its congresses.
Addressing the controversies surrounding the 2022 APC presidential primary, where then-National Chairman Abdullahi Adamu allegedly opposed the emergence of President Bola Tinubu as the candidate, Omisore stated that his mandate was to deliver the South-West for the presidency, which he successfully achieved. He emphasized that politics is about upholding one’s interest and delivering on objectives.
Omisore also shed light on the legal challenges faced by the APC during its congresses, stating that the party secretariat had a deficit of about N9 billion and was dealing with 10,000 court cases related to the congresses alone. He stressed the importance of conducting transparent primaries to minimize legal disputes and ensure the party’s success in the general elections.
Despite the numerous court cases, Omisore said the party had to move forward with its presidential convention, focusing on conducting a democratic process within the limited timeframe available. He noted that the APC’s transparency in its primaries contributed to its victory in the governorship elections.
Regarding the ongoing minimum wage negotiations, Omisore advised the Nigerian Labour Congress (NLC) and the government to find a resolution through engagement and negotiation. He emphasized that the government must consider the available resources and inflation trends while striving to provide a reasonable wage for workers.
As the nation grapples with various challenges, Omisore expressed optimism about Nigeria’s progress under President Bola Ahmed Tinubu’s leadership. He highlighted the president’s efforts to engage with stakeholders, make bold decisions, and address issues such as poverty alleviation and power supply.
The 5,937 soldiers that recently passed out from the Nigerian Army Depot in Zaria, Kaduna State, will be deployed to fight banditry, cattle rustling and related crimes, Chief of Army of Staff, Lt. Gen. Taoreed Lagbaja, has said.
Lagbaja disclosed this during the passing-out parade for the 86 regular recruit intake of the Depot Nigeria Army, in Zaria, yesterday.
The COAS, who was the Special Guest of Honour and Reviewing Officer, for the passing out parade, added that the new men would form part of the solution to numerous security challenges bedevilling the country.
“The fresh products passing out today will form part of the solution to the challenge of insurgency in the North-east, banditry and cattle rustling in the North-west.
“They will fight the farmers/herders’ clashes in the North-central, secessionist agitation and cultism in the South-east, militancy, and vandalism of critical national assets and infrastructure in the South-south and south-west.”
The COAS noted that the training was a continuous process in the military, adding that the Nigerian Army has put in place post-depot training packages to help the soldiers master the array of weapons and equipment.
This, according to him, will enable the soldiers to become more efficient in the art of war.
He said that the army was improving on the existing welfare packages to enable the soldiers to cater for their medical, recreational, and educational needs to ease career fulfillment.
While congratulating the 5,937 recruits, the COAS said that the life of a soldier was a life of sacrifice to his country, allegiance to defend, and, if need be, sacrifice his life for the people.
“Sacrifice to go wherever you are ordered to, by land, sea or air; sacrifice to relegate personal comfort and assume a duty to the country as a primary concern,’’ he said.
He said that by becoming a soldier, one had accepted the highest call to duty any Nigerian could take up.
He added that as soldiers, they had joined the unique league of exceptional Nigerians who had elected to abide by the requirements of exceptional discipline, loyalty, integrity, and dedication to duty.
Lagbaja, therefore, charged them not to disappoint the Nigerian Army and the country’s expectations of them.
He commended and congratulated the commandant and instructors of Depot NA for the successful training and graduation of the recruits.
The Army boss assured the commandant of the Army headquarters’ support towards realising the training objectives of the institution.