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FG gets 14-day ultimatum over minimum wage implementation

Labour Unions in the country have handed down a 14-day ultimatum to the Federal Government

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Minimum wage, NLC, Looting by former governors blocks excuses for new minimum wage 

Labour Unions in the country have handed down a 14-day ultimatum to the Federal Government to ensure completion of work on the implementation of the new national minimum wage or risk unprecedented industrial unrest in the country.

The labour unions gave this warning at the end of a joint briefing in Lagos. The union leader threatened that they could no longer guarantee industrial peace in the country at the expiration of the ultimatum.

According to the Labour Union Leaders, The press conference is made inevitable by the latest provocative statement from the Minister of Labour, Dr Chris Ngige, who said a few days ago that the committee should adjourn indefinitely to enable him do further consultations with the government.

“We view his latest pronouncement with great concern, suspicion and outrage. This new antic certainly is not acceptable to Nigerian workers who had expected a new national minimum wage since 2016 but who out of uncommon sacrifice and patriotism, hearkened to government’s appeal and the process was delayed”.

They, therefore, demand that government does all that is necessary to ensure that the Tripartite Committee is allowed to conclude its work within 14 days from today.

The labour Leaders noted the present posturing of the Minister of Labour and Employment, Dr Chris Ngige, who functions as Acting Chairman of that committee brings back painful memories of precious time wasted, energies dissipated and hopes betrayed.

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President Muhammadu Buhari, had in 2017, inaugurated the National Wage Committee led by a former Minister of Housing, and former Head of Service, Ms. Ama Pepple in order to recommend the long-clamour for minimum wage.

The last time minimum wage was reviewed was in 2011. Then, the wage was set at a paltry ₦18,000. It took 10 years to have this benchmark reviewed through a collective bargaining mechanism by the Government and the Labour unions.

Fikayo has a degree in computer science with economics from Obafemi Awolowo University. ITIL v3 in IT service management. An alumnus of Daystar Leadership Academy. Prior to joining Nairametrics had stinct in Project management, Telecommunications among others. Also training in Consulting and Investment banking from Edubridge Academy. He has very keen interest in Politics, Agri-business, private equity and global economics. He loves travelling and watching football. You can contact him via [email protected]

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Business

FEC approves $1.96 billion for Kano-Niger Republic railway

The Federal Government has approved the sum of $1.96billion for the construction of Kano-Maradi railway.

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FEC approves $1.96 billion Kano-Niger Republic, FEC approves N727 billion budget increment

The Federal Executive Council has approved the disbursement of $1.96 billion, for the railway line from Kano in Nigeria to Maradi in Niger Republic. The President will also commission the Warri-Itakpe standard gauge rail line, running through Kogi, Edo and Delta States.

This was announced by the Minister of Transport, Rotimi Amaechi, on Wednesday evening.

Media aide to the President, Ajuri Ngelale, said, “The rail line will connect 3 states: Kano, Katsina & Jigawa. It moves from Kano to Dambatta, Kazaure, Daura, Mashi, Katsina, terminating in Maradi, Niger Republic. This financially empowers Nigeria as the import/export hub for Niger.”

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Nairametrics reported in June, that China is set to approve the sum of $5.3 billion for the construction of the Ibadan-Kano rail line.

“The Chinese government and people have been very helpful to Nigeria. They have released $1.6 billion for Lagos-Ibadan standard gauge railway (SGR). They’ve agreed to approve and we hope that by October, they should be able to approve the $5.3 billion for the Federal Government so that we can commence and complete construction of Ibadan-Kano railway,” Rotimi Amaechi said.

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Economy & Politics

FAAC disburses N696.2 billion in July 2020, as Lagos State parts with N1.46 billion  

The sum of N696.18 billion to the Federal, State, and Local governments in July 2020 from the FAAC account.

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States lose N35.51 billion to bail-out , FAAC disburses N650.8 billion as South-South states receive highest share

The Federation Account Allocation Committee (FAAC), disbursed the sum of N696.18 billion to the Federal, State, and Local governments in July 2020, from the revenue generated in the month of June 2020. This was stated in the latest FAAC report, released by the National Bureau of Statistics (NBS). 

According to the report, the monthly disbursement increased by 27.2% compared to N547.3 billion shared in June, and 14.8% increase compared to N606.2 billion disbursed in May 2020. 

Checks by Nairametrics research, shows that a total of N4.58 trillion has been shared to the three tiers of government, between January and July 2020. Highest disbursement was recorded in April (N780.9 billion), followed by N716.3 billion in January 2020. 

Meanwhile, Lagos State – the economic hub of Nigeria, parted with N1.46 billion as external debt deductions in the month, indicating a total of N9.74 billion deductions between January and July 2020. 

Breakdown 

  • The amount disbursed in July comprised of N474.53 billion from the Statutory Account, N128.83 billion from Valued Added Tax (VAT), N42.83 billion from Exchange Gain Differences, and Distribution of N50 billion from Non-Oil Revenue for the Month. 
  • Federal Government received a total of N266.13 billion from the total disbursement. States received a total of N185.77 billion, and Local Governments received N138.97 billion. 
  • The sum of N28.50 billion was shared among the oil producing states as 13% derivation fund. 
  • Revenue generating agencies such as Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS)and Department of Petroleum Resources (DPR) received N6.32 billion, N15.05 billion, and N2.68 billion respectively as cost of revenue collections. 

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South-South scoops highest share 

The South-South region, also known as the Niger Delta region, received the highest share of the disbursement in the month of July. The region received a sum of N49.44 billion, representing 25.4% of the total net allocation for states. 

This is largely because the region contributes mostly to crude oil production in Nigeria, which is a significant source of revenue for the federation. Out of the six states in the region, only Cross River State is not an oil producing state. Hence, Rivers, Edo, Akwa Ibom, Bayelsa, and Delta States received a total of N24.28 billion as part of 13% oil derivation fund.  

North-West region received N36.83 billion (18.9%); followed by North-Central region, which received a net total of N30.69 billion (15.8%). Others include South-West (N29.55 billion), North-East (N26.32 billion), and South-East (N21.97 billion). 

External debt deductions 

A total of N4.47 billion was deducted from the state’s allocation, as external debt deductions for the month of July. Lagos State parted with the highest amount of N1.46 billion, representing 32.6% of the total debt deductions in the month. A sum of N9.74 billion has been deducted as a result of external debt obligations between January and July 2020. 

It is worth noting that, the State’s external debt has declined by 9.67%, from $1.39 billion recorded as at the end of December 2019 to $1.26 billion in June 2020. 

Others on the list of top 5 deductions are, Kaduna (N414.6 million), Oyo (N305.4 million), Rivers (N280.3 million), and Cross River (N222 million). On the flip side, Ogun State parted with the lowest, as N9.1 million was deducted, followed by Borno (N21.6 million), and Taraba (N24.5 million). 

Upshot 

  • With dwindling federally collected revenue, caused by volatility in global crude oil price and economic downtrend caused by COVID-19 pandemic, it is evident that federal allocations will likely face drastic decline, which is a cue for the State governments to strategize on more creative ways of generating revenue internally.  
  • A quick check at the states’ IGR numbers, shows that 91.9% of the states in Nigeria with the exception of Abuja, Ogun, and Lagos States rely more on federal allocation, as against internally generated revenue. 
  • This implies that several states in Nigeria are technically bankrupt without debt financing, and Federal Government monthly allocation. 

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Coronavirus

COVID-19 Update in Nigeria

On the 23rd of September 2020, 111 new confirmed cases and 2 deaths were recorded in Nigeria

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The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 57,724 confirmed cases.

On the 23rd of September 2020, 111 new confirmed cases and 2 deaths were recorded in Nigeria, having carried out a total daily test of 3,177 samples across the country.

To date, 57,724 cases have been confirmed, 48,985 cases have been discharged and 1,102 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 484,051  tests have been carried out as of September 23rd, 2020 compared to 480,874 tests a day earlier.

COVID-19 Case Updates- 23rd September 2020,

  • Total Number of Cases – 57,724
  • Total Number Discharged – 48,985
  • Total Deaths – 1,102
  • Total Tests Carried out – 484,051

According to the NCDC, the 111 new cases were reported from 12 states- Lagos (31), Gombe (18), Kaduna (18), FCT (15), Rivers (14), Imo (3), Kwara (3), Oyo (3), Bayelsa (2), Ogun (2), Edo (1), Osun (1).

Meanwhile, the latest numbers bring Lagos state total confirmed cases to 19,086, followed by Abuja (5,598), Plateau (3,304), Oyo (3,236), Edo (2,616), Kaduna (2,377), Rivers (2,277), Delta (1,800), Ogun (1,774), Kano (1,734), Ondo (1,606), Enugu (1,285), Ebonyi (1,038), Kwara (1,028), Abia (881), Gombe (857). Katsina (848), Osun (818),  Borno (741), and Bauchi (692).

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Imo State has recorded 565 cases, Benue (473), Nasarawa (449), Bayelsa (397),  Jigawa (322), Ekiti (317), Akwa Ibom (288), Niger (259), Adamawa (234), Anambra (232), Sokoto (161), Taraba (95), Kebbi (93), Cross River (85), Zamfara (78), Yobe (75), while Kogi state has recorded 5 cases only.

READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government

Lock Down and Curfew

In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.

The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.

On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.

On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.

READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous

 

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