Connect with us


Subsidy removal: Widen scope in discussions with labour – Aremu urges FG



The Director-General, Michael Imoudu National Institute for Labour Studies, Ilorin, Mr Issa Aremu, has urged the Federal Government to expand the scope of its negotiations in the aftermath of fuel subsidy removal.

Aremu urged the government to include employers of labour in the ongoing discussions with organised labour on the needed actions following the subsidy removal.

He gave the advice in an interview with the newsmen, on Tuesday in Lagos, on the sideline of an event organised as part of activities of Mandela Day celebration.

Aremu said that the measure would ensure transparency in managing inevitable policy reforms without imposing shock therapy on Nigerians and worsening poverty.

According to him, all other issues must be brought to the table.

“However, as we agree on that, the government must engage people, also mitigate the impact of the crisis facing the country, because any transition policy initiative has its benefits and costs.

“It is now time for us to relook how to manage the transition before it gets out of hand, and the only way to do so is through negotiation, discussion.

“One of the strong virtues of Nelson Mandela was that he was open to negotiation.

“He negotiated with his enemies and had reconciliation with them.

“We cannot engage in policy fights because we are not enemies, we are all citizens.

“It calls for urgent discussion by all the stakeholders that while we know the market is important, we cannot allow market forces in which the cost of doing business is getting more expensive,” he said.

Aremu said it was undermining the ease of doing business and cost of living, and could affect the drive for productivity and bid to reposition Nigeria for renewed hope and prosperity.

Petrol price went up on Tuesday, sparking outcry by many motorists who were still battling with the earlier increase that followed the new administration’s pronouncement on the end of petrol subsidy.

President Bola Tinubu’s pronouncement on the policy on May 29 was followed by an increase in pump price of petrol from N198 per litre to N500 per litre, and above this in some parts of the country.

Following the policy, organised labour and the federal government went into negotiations on ways to cushion the effect of the new policy on workers.

Tuesday’s increase came while the discussions were still on, but the Nigerian National Petroleum Company Ltd. has attributed it to market forces.

The increase on Tuesday saw the price jump from N500 to as much as N617 in some parts of the country, with the resultant effect of transportation costs.

The organised labour has expressed its displeasure with the new increase.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


CBN disowns notice on cryptocurrency transactions



The Central Bank of Nigeria says a notice circulating on social media about the risk of cryptocurrency is fake news.

The Apex disclosed this via its official X account, urging the public to disregard the purported notice for all Deposits Money Bank, Non-Bank Financial Institutions, and other Financial Institutions.

The notice reminded “Institutions that dealing in cryptocurrencies and facilitating payments for cryptocurrency exchanges is prohibited”.

However, CBN said the content doesn’t originate from it.

“This information does not originate from the Central Bank of Nigeria.

“For authentic updates, please visit the official website,” CBN wrote.

Recall that the CBN governor, during the Bank’s 293rd Monetary Policy Committee meeting, said over $26 billion funnelled through Binance.

On Tuesday, the Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede, said the anti-graft agency froze about 300 accounts to ensure the safety of the foreign exchange market.

The Nigerian government had continued clamping down on Binance and other cryptocurrency platforms amid efforts to defend the Naira in the foreign exchange market.

Continue Reading


Biden says U.S. will begin sending weapons to Ukraine



U.S. President Joe Biden wants to start delivering of weapons and equipment to Ukraine this week.
The president said this shortly after the U.S. Senate approved billions of dollars in new aid for the country under attack from Russia.
“I will sign this bill into law and address the American people as soon as it reaches my desk tomorrow so we can begin sending weapons and equipment to Ukraine this week,” Biden said.
By passing the legislative package, which also includes billions of dollars in aid for Israel and Taiwan, the U.S. Congress has demonstrated the power of American leadership in the world, Biden added.
“We stand resolutely for democracy and freedom, and against tyranny and oppression.”
There is an urgent need for support for Ukraine, which is being subjected to relentless bombardment from Russia, Biden said.
The bill also contains aid for Israel, which has recently faced unprecedented attacks from Iran.
“This critical legislation will make our nation and world more secure as we support our friends who are defending themselves against terrorists like Hamas and tyrants like Putin,” Biden said.
Continue Reading


NSCDC deploys personnel to JAMB CBT centres in Anambra



The Nigeria Security and Civil Defence Corps (NSCDC), said it has deployed personnel to ensure a hitch-free 2024 Unified Tertiary Matriculation Examination (UTME) in Anambra.

The state Commandant, Olatunde Maku, stated this after monitoring the conduct of the exams across CBT centres in Awka, on Wednesday.

Some of the centres visited are, Integral Development Konsult on Enugu/Onitsha Expressway, White House in Awka, JAMB Centre located inside JAMB office in Amawbia and Nnamdi Azikiwe University, Awka.

Others are St. John of God ICT Hub, Awka and Kachukwu Ventures Staff Development Centre, behind Government House in Awka.

The examination centres take candidates in three batches: 7 a.m., 10 a.m. and 12 p.m.

Maku said that the synergy between NSCDC and the Joint Admissions and Matriculation Board (JAMB) had yielded positive results in reducing exam malpractice.

He said that the monitoring of the centres would continue till the end of the examination period, to ensure a seamless conduct of the exercise and promote transparency.

“We are firm in our determination to protect critical national assets and infrastructure including JAMB centres.

“Which was why the NSCDC deployed personnel to JAMB CBT centres in the state to ensure security and so far they have been professional in carrying out their mandate,” he said.

Maku advised candidates writing the 2024 UTME to be law abiding and avoid being in possession of prohibited or incriminating items during the examination.

He warned unauthorised persons against loitering around designated exam centre, adding that anyone found wanting would be arrested and prosecuted.

Also speaking, Mrs Jema Iheme, JAMB Coordinator, Anambra state, commended NSCDC for their support and for ensuring security of candidates and staff at the exam centres.

Iheme said that the swift response of NSCDC to emergencies and enforcement of exam rules and regulations was contributing to a smooth and secured exam process so far.

NAN also reports that about 1.9 million candidates are expected to write the JAMB UTME, which commenced on April 19 and would end on April 29.

Continue Reading