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Workers’ Day: Elected officials make promises, workers, unions kick in lamentations

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…Your fight will be my fight, I’ll always fight for you – Tinubu

…Promises ‘living wage’

…Says workers will have more than minimum wage for decent life, provide for families

…University workers, doctors threaten industrial action

Our Correspondents

Celebration of May 1st, Workers Day celebration was on Monday coloured with mixed feelings, as promises and grievances recorded contradictions with reactions from different quarters.

While elected officials, particularly those to be sworn in later May 29 took to stage to shower mouthwatering promises to raise the hopes of workers, the latter on the other end in many quarters took no chance than expressing their grievances over what has been lamented as poor conditions, especially bordering on recent economic conditions ridden by hyper inflation.

…Elected officials make promises 

On his part, President-elect, Asiwaju Bola Tinubu in his remarks vowed to give more than a minimum wage to Nigerian workers, promising to give them a “living wage.”

“In the Nigeria I shall have the honour and privilege to lead from May 29, workers will have more than a minimum wage. You will have a living wage to have a decent life and provide for your families,” Tinubu stated.

The President-elect who made the pledge in a statement issued Monday in Abuja on the occasion of this Workers’ Day celebration, assured that workers would find in him a dependable ally and co-labourer in the fight for social justice.

The President-elect also extended a hand of friendship to workers, recalling decades of close collaboration between workers and nationalists as well as pro-democracy activists.

“Since 1945 when the railway workers and 16 other public service unions led the first general strike to demand for better wages as a result of rising cost of living, the labour movement in Nigeria has always fought on the side of the masses of our country.

“It was no surprise that the labour movement added fillip, zest and energy to the struggle for independence by partnering with nationalists such as Nnamdi Azikwe, Herbert Macaulay, Ahmadu Bello, Obafemi Awolowo, Ernest Ikoli and Anthony Enahoro among others.

“The Nigerian labour movement was also not found wanting during our struggle for the restoration of democracy.

“The Nigerian Labour Congress ( NLC) and its affiliate organisations — NUPENG, Textile Union, PENGASSAN, among others — collaborated with the pro-democracy leaders and groups to restore democratic governance in Nigeria in 1999 after almost two unbroken decades of military dictatorship.

“On this special day, as your President-elect, I extend my hands of friendship to the Nigerian workers through the two central Labour unions – Nigeria Labour Congress and Trade Union Congress.

“In me you will find a dependable ally and co-labourer in the fight for social and economic justice for all Nigerians, including all the working people.

“Your fight will be my fight because I will always fight for you. My plans for better welfare and working conditions are clearly spelt out in my Renewed Hope Agenda for A Better Nigeria. It is a covenant born of conviction and one I am prepared to keep.

“At this point, I must remind Nigerian workers that we all have a common battle to wage, one which we must win together.

“And it is the fight against poverty, ignorance, disease, disunity, ethnic and religious hate and all negative forces that contend against the stability and prosperity of our country.

“The days ahead will, however, demand better understanding and cooperation from all sides, because leadership will require that we take tough and hard decisions so that our people and all Nigerian workers can live more abundantly,” he promised.

The May workers Day also Governors elect who took to stage to give hope to workers, making promises.

On his part, Kano State Governor-elect, Abba Kabir Yusuf promised to put an end to job racketeering in the civil service of the State in his intending administration.

The Governor-elect, in a statement issued by his Chief Press Secretary, Sanusi Bature to commemorate workers in the State said his administration will revisit all the racketeering in the name of staff recruitment by the outgoing government and ensure a credible recruitment process in place for all citizens with the required qualifications to compete in order to restore the lost glory of the service.

He said, “On the current job racketeering and nepotism in staff recruitment which the outgoing government is recklessly conducting, we shall not allow the civil service to be misguided by corruption and nepotism, we must check the job racketeering in Kano state as a priority to restore the lost glory of the service.”

The Governor-elect assured the State civil servants of improved welfare including prompt payment of salaries and pension by the incoming administration of the New Nigeria People’s Party, NNPP.

“Workers are the key to delivering good governance under any democratic dispensation, as such, they deserve to be commended for their sacrifice to humanity.

“Kano workers in the State Civil Service and private sector have demonstrated audacity in the face of their diminishing purchasing powers to maintain high standards of service delivery and productivity amid global economic hardship despite the neglect by the outgoing administration.

“The leadership of the incoming government is quite aware of the problems facing the State civil servants including unfavourable working conditions and inadequate manpower which have been noted for redress.

“The government will be committed to reforming the civil service as part of the efforts towards strengthening the system for effective and efficient service delivery.

“As contained in our blueprint, we will establish Training Institute for the civil servants to be up to date with the global best practices,” the Governor-elect.

Also, Abia Governor-Elect Dr. Alex Otti told workers and pensioners in the State to weep no more, declaring that his emergence has ended the gloomy era of salary and pension arrears.

Otti in a goodwill message to workers to mark Workers’ Day celebration, promised them prompt and regular payment of salaries once he assumes office on May 29.

In the goodwill message entitled: “At last, Help is Here” personally signed by him, declared that his emergence had marked the beginning of a new dawn in Abia, assuring that very soon every sector of the state will witness the transformation.

He said, “A year ago, I did the usual ritual of felicitation to you all, and I did reassure you that sooner than later, the ruinous era of gloom and sobriety would give way for a new dawn of blessings and abundance.

“Today, by the mercy of the Almighty God, our prayer, battle cry and admonition, ‘Weep no more, help is on the way,’ your prayers have been answered and we can assuredly declare, help is here!”

Otti commended the workers in the state including those in the Local Governments for their resilience, longsuffering and uncommon dedication to duty despite being owed many months of salary arrears.

The message further read, “I consciously chose to address you as ‘fellow workers’ because, on Saturday, March 18, 2023, you joined thousands of passionate, enthusiastic and patriotic Abia voters to hire me as your employee. That noble and humbling decision has placed an additional burden of service on my shoulders.

“On behalf of the good people of Abia State, I wish to sincerely congratulate the organised labour led by the Nigerian Labour Congress (NLC), the Trade Union Congress (TUC) and other such bodies on this year’s celebration.

“I particularly salute our workers in the State and Local Government civil services, who, despite being owed many months of salary arrears, have ensured that the wheels of public service continue to spin.

“I’m aware as usual, that most of you will be celebrating this year’s May Day on empty stomachs as a result of non-payment of salaries. Be assured that such a sad experience will become a thing of the past going forward. I commend your resilience, longsuffering and uncommon dedication to duty in the service of our dear State.”

Otti who noted that poorly remunerated workers pose a security risk to society, and promised to prioritize the welfare of workers.

“I have always held the view that a worker that is neglected or poorly treated is a threat to the economic prosperity of a state and argued that one of the ways to stimulate a depressed economy is to pay salaries and allowances as well as pay contractors to inject funds into the economy, which will in turn lead to increased demand for goods and services, higher productivity and job creation.

“I’m convinced that God saw through our hearts, hence, He crowned our efforts with that nationally celebrated historic victory that has given us the platform to serve you,” he said.

Otti promised to hit the ground running immediately after his swearing-in on May 29 despite the daunting challenges being handed over to him by the outgoing Government.

“We are not unmindful of the enormity of the rot ravaging every sector of our economy, vis-a-vis the humongous liabilities being left behind by the outgoing PDP government, however, we are undaunted because we came prepared and will therefore hit the ground running, despite the challenges.

“We will move speedily, vigorously and decisively in the task of rebuilding our state and in our efforts to create wealth, jobs, prosperity and opportunities for our people, at all levels,” he said.

On his part, Governor of Ebonyi, Gov. David Umahi approved an exit package of N10,000 for Ebonyi State workers.

Umahi made the disclosure on Monday in Abakaliki at the 2023 Workers Day celebration with the theme: “Workers’ Rights and Socio-economic Justice.”

Represented by his Deputy, Mr Kelechi Igwe, the Governor said, “The exit package is also for local government workers, and that shall be added to their May salaries.

“My administration has made government-worker friendliness possible. Our relationship with civil servants has been cordial.

“In my eight years in office, we can say that we have created over 65,000 direct and indirect jobs for the people.

“We have created four more federal institutions  – David Umahi Federal University of Health Sciences, David Umahi Federal Teaching Hospital, Muhammadu Buhari International Airport and Isu College of Education,” he boasted.

The Governor said that the creation meant more income tax from both federal employees and state employees to the state government, improved welfare of the people, more funds to the economy and increased commercial activities in Ebonyi.

Umahi said that he understood the significance of the 2023 Workers Day celebration all over the world.

“It reminds us of the ugly past where workers were dehumanised and their rights and freedom denied them,” he said.

…Workers register grievances

Meanwhile, though public officials resorted to promises, workers in their various unions registered their grievances on Monday.

For instance, against Umahi’s N10,000 exit package, the Nigeria Labour Congress (NLC), and Trade Union Congress of Nigeria (TUC),  called on the Governor to liaise with his successor, Rt. Hon. Francis Nwifuru to design a better take-home package (living wage) that will improve the livelihood of workers in the State.

In a joint address by the Chairmen of NLC, Comrade Prof. Oguguo Egwu and TUC, Ebonyi State, Comrade Igboji Chidi, during the 2023 Joint Workers Day Celebration in Abakaliki, with the theme “Worker’s Right and Socioeconomic justice,” Unions harped on the enhancement of welfare packages for workers that “will be unique to Ebonyi and better than what is obtainable else where in the country.”

“Everyone in this country understands the economic realities on ground. We understand the biting pressure in governance where you try to show sincere concerns and attend to all the competing demands of your people.

“While we thank you for all you have been doing, we ask you to look deep into your good heart and in liaison with your successor, design a take-home package (living wage) that will be unique to Ebonyi and better than what is obtainable elsewhere in the country,” they said.

The Unions further called on the present administration to “rejig the Ebonyi State Civil Service through the employment of Secretarial Staff and other cadres for maximum efficiency; implement judiciary autonomy and approved welfare packages for judiciary workers in the State.

“Harmonise and enhance the pension and gratuity management schemes in the State; provide utility vehicles for the two Labour Centres (NLC and TUC) and joint Negotiating Council and Affiliate Unions in the State,” they added.

Moreover, the grievances of some Unions on Monday were with threats to embark on industrial actions, should their demands be not met before the termination of deadlines issued to the Government.

…University workers, doctors threaten industrial action 

The Senior Staff Association of Nigerian Universities (SSANU) on Monday, accused the Federal Government of being insensitive to the plight of its members by withholding their four months’ salary, describing the action as provocative and unbearable.

SSANU also told the Federal Government to release the N50 billion Earned Allowances which it said was captured in the 2023 budget, threatening that it won’t guarantee industrial harmony in the universities if the government continues to threaten the University workers with levity.

President of SSANU, Comrade Mohammed Ibrahim in his goodwill message to his members to mark the 2023 Workers Day, lamented the alleged exclusion of SSANU members in the 40 per cent pay rise, which is a peculiar allowance paid to workers in the core civil service.

The message read, “Comrades, despite the hostile environment in which we operate, we remain undeterred in our quest to contribute to the building of a great country. Our members have continued to report for duty in the most security-challenging parts of Nigeria. It’s a pity that the federal government has remained adamant in the payment of withheld four months’ salaries during the nationwide strike in 2022.

“You are all aware that SSANU complied with all industrial legal protocols before embarking on strike when the government reneged on its part of the bargain. We have made every effort for the government to see the reason why we should be paid our rightful due all to no avail.

“We are once again calling on the government to urgently pay the withheld salaries without further delay. The insensitivity of government to the plight of workers is provocative and unbearable.

“You are also aware that since we suspended the strike last year, the issue of re-negotiation of the 2009 Agreement has not yielded any result. It appears the federal government does not like the industrial harmony in the universities. We are calling on the government to without any delay ensure that the renegotiation is urgently concluded and implemented.”

He lamented that it was unfathomable that his members were excluded from the recent payment of a 40 per cent pay rise and called on the government to ensure that his members are paid immediately.

“We call on the government to ensure that our members receive their own payment as soon as possible if not, we can no longer guarantee industrial harmony in the university We should also place it on record that the N50 billion Earned Allowances which the government promised last year is yet to be paid.

“We are using this opportunity to tell the government to release it as quickly as possible as further delay will not be helpful to the system. The morale of University workers is dampened by the inability of the government to create a conducive environment in the university system, our members work under harsh conditions, yet they put in their best to ensure that our students don’t suffer. The government appears to be paying lip service to funding education.

“It is very clear that government pays more attention to frivolous things and has neglected the workers that generate the wealth of the nation and the future of the young generation. We call on the government to resolve all issues with university workers and also tackle the challenges facing the country.”

On their part of lamentations, medical doctors under the auspices of the Nigerian Association of Resident Doctors (NARD) on Monday  issued a Two–Week ultimatum to the Federal Government to resolve all its demands.

The doctors are demanding an immediate 200 per cent increment in the Consolidated Medical Salary Structure, CONMESS, withdrawal and jettisoning of the Bill by Honourable Ganiyu Johnson, payment of the 2023 Medical Residency Training Fund, MRTF, the commencement of payment of all salary arrears from 2014, 2015, and 2016, massive recruitment of clinical staff in the hospitals and complete abolishment of bureaucratic limitations to the immediate replacement of doctors who leave the system.

Other demands include immediate infrastructural development in various hospitals without further delay and 15 per cent budgetary allocation to health subsequently, implementation of CONMESS, Domestication of MRTA, and review of hazard allowance by all the state governments as well as Private Tertiary Health Institutions where any form of Residency Training is done.

The doctors also threatened that they may not guarantee industrial harmony in the health sector nationwide should the Federal Government fail to meet their demands by 13th May 2023.

They also demanded immediate commencement of payment of all salary arrears owed to them, particularly, those working with the Abia State government.

The doctors gave the warning in a communiqué jointly signed by its President, Dr Emeka Orji, Secretary-General, Dr Kelechi Chikezie, and the Publicity & Social Secretary, Dr Umar Musa and issued at the end of their extra-ordinary National Executive Council meeting in Abeokuta, Ogun state.

The National Executive Council (NEC) of NARD  further observed that despite their several engagements with the Government on the need to upwardly review  CONMESS, which was last reviewed over 10 years ago, Government has neither called NARD to the negotiation table nor taken any tangible step in addressing the issue.

Stating that there have been previous ultimatums issued to the Government over the review of the salary structure, they condemned what they described as the “obnoxious” Bill sponsored by Hon. Ganiyu Johnson of the Federal House of Representatives.

They expressed disappointment at the delay in the payment of the 2023 Medical Residency Training Fund, (MRTF).

They also described as deliberate the refusal by the government to pay the salary arrears of 2014, 2015 and 2016 to their members as well as the arrears of the consequential adjustment of minimum wage.

The doctors also observed the infrastructural decay in the health sector as well as the severe manpower shortage in the sector, noting that despite several requests by NARD, the Government has still refused to provide at least 15 per cent budgetary allocation to the health sector as contained in the 2001 Abuja declaration for health care financing in Africa to which Nigeria is a signatory. NEC described the current 5.7 per cent allocation in the 2023 budget as laughable for a country claiming to be committed to safeguarding the health of its citizens and nipping the challenge of brain drain in the bud.

They lamented that many state Governors are yet to implement the appropriate CONMESS structure, domesticate the Medical Residency Training Act (MRTA) or improve on the hazard allowance paid to our colleagues and other health workers while owing a backlog of salary arrears to their members.

“NEC seriously frowns at these negative developments in the states which have lingered for a long time now, wondering how such state Governors get to sleep at night seeing that they are endangering the lives of the citizens of their various states,” they said.

…Labour places demands

The Organised Labour under the aegis of the  Nigeria Labour Congress (NLC) on Monday put before the government some of its demands.

Among these, was the demand  for a review of civil servants’ retirement age and years of service in the entire public service to 65.

NLC President, Joe Ajaero, made the call during the 2023 Workers’ Day celebrations on Monday in Abuja.

Ajaero also called for a general review of core civil servants’ salaries to narrow the gap between other civil servants’ emoluments and those in other segments of the public service.

He said that the extension of years of service should go around, as it had been done in other sectors of the public service in the country.

“Only a few other establishments, including the core civil service, are now left out.

“We are, therefore, demanding that the age of retirement and length of service in the entire public service, including the civil service, be reviewed upward to 65 years of age and 40 years of service,” he said.

Ajaero said that the union had, over the years, demanded salary review but had yet to receive Federal Government’s attention.

“It is necessary to recall that we have continued over the years to demand that the salaries of core civil servants be beefed up to narrow the gap between their emoluments and those in other segments of the public service.

“They all possess the same educational qualifications and cognate experience on the job. So why the disparity?” Ajaero queried.

On gratuity payment, the NLC president said union leaders had, on several occasions, presented the issue to the government without any positive response.

“Fellow comrades, we have consistently presented the issue of gratuity payment to the government but nothing has been done in that regard.

“As you are all aware, the concept of gratuity payment to employees is predicated on the fact that those who have laboured for public institutions or private enterprises are entitled to the proverbial golden handshake from their employers.

“Thus, gratuity is a monetary benefit given by an employer to his/her employee at the time of retirement without the worker making any financial contribution whatsoever to the fund,” he said.

According to him, such a lump sum is meant to enable the retiree finance any post-retirement endeavour of his/her choice.

“The Pension Act did not abolish gratuity payment and we demand its restoration in many public sectors where it has been stopped,” the labour leader said.

Meanwhile on the part of grievances and demands, the NLC in Plateau urged Gov. Simon Lalong to pay outstanding workers salaries in the State before his exit from office.

The Chairman of the union in the State, Mr Eugene Manji, made the call during the celebration of the worker’s day on Monday at Rwang Pam stadium, Jos the State capital.

He thanked the Governor for being consistent in the prompt payment of salaries at the beginning of his administration and urged him to end his tenure well by clearing the backlog.

“We heard some workers are already receiving their February salaries and we urge you to ensure all workers are paid before you leave office.

“We want you to break the jinx of Plateau governors always leaving backlog of salaries before their exit to the incoming governors,” he said.

In his remarks, Gov. Lalong said that his administration has been committed to the prompt payment of salaries in spite of the financial burden it confronted through the inheritance of eight months of workers’ salaries from his predecessor.

“We tried to paying outstanding salaries, am not perfect but there are some things I will do before leaving office,” he said.

The NLC in Kaduna State in collaboration with TUC, called on Kaduna State Governor-elect, Senator Uba Sani, to improve the quality of workers welfare in the State as soon as he assumes office, May 29th.

Chairman of NLC Kaduna State, Comrade Ayuba Suleiman, who made the appeal during the commemoration of the world’s May 1st workers’ day anniversary, said workers are passing through a lot of hard times in Kaduna State, therefore it’s expedient to prioritize them against all odds.

According to him, previous governments like that of Governor Ahmed Makarfi put up various schemes that would help improve the quality of livelihood of Kaduna workers, but today the scheme’s funds still lie dormant in the Office of the Head of Service.

He said, “His Excellency, Alhaji Ahmed Mohammed Makarfi’s administration successfully created and funded Kaduna State Workers Revolving Fund Scheme under the Office of the Head of Service from the year 2000 to 2007, under the joint operational control of the Permanent Secretary PSO, NLC and Public Sector Joint Negotiation Council.

“The scheme was a thrift and loan services that provided soft loan in revolving system to Kaduna State Civil Servant without any added interest; this was a system that many workers not only benefitted from but really appreciated. It is safe to say that as at today, the scheme’s funds still lies dormant (non-active) in the Office of the Head of Service.

“To this end, we are individually and collectively demanding for the reactivation and revival of this wonderful scheme as it will go a long way in improving the welfare of Kaduna State Civil Servants, thus boosting their sense of belonging and morale,” he said.

While appreciating Kaduna state government for prompt payment of salaries, Ayuba, urged Uba Sani to consolidate on the payment of salaries as at when due like that of Governor Nasir El-Rufai so as to a avoid any form of agitation.

The NLC chairman, who described Senator Uba Sani as a Comrade appealed to the governor-elect to make them partner so that they can be able to alleviate the plights of Kaduna workers together.

Other demands from the Union include security of lives and properties of workers, Job security and more employment opportunities, prompt payment of salaries, pension and gratuity, adherence and respect to the supremacy of rule of law, review of all cases of wrong disengagement, arbitrary dismissal force full retrenchment of civil servants and consideration for their reinstatement and payment of legitimate entitlement, among others.

The NLC in Bauchi state called on the President-elect, Tinubu, to sustain and improve on citizens’ welfare and security in the Country.

Chairman of the Chapter, Dauda Shuaibu, made the call in Bauchi on Monday during the commemoration of the 2023 International Workers Day, jointly organised by the TUC and the NLC.

According to him, citizens’ welfare and security are the cardinal objectives of any responsible administration.

He said, “The issue of pervasive poverty and joblessness of our youths and graduates should be tackled frontally.

“This may help to reduce frequent kidnapping, banditry, insurgency, terrorism and all sorts of social vices in the country, as no nation could prosper under the atmosphere of insecurity.

“The value of our currency has crumbled due to high inflation. The N30,000 new national minimum wage can no longer make any positive impact on the lives of workers.

“We therefore call on the President-elect to assemble a team of technocrats with high patriotism to address the issue of the national economy in his first 100 days in office to bring down the high cost of living in our country.”

…Soludo takes side with workers, says they’re ‘living in denial’

Taking workers’ side, Anambra State Governor, Prof. Charles Soludo, said that the N30,000 national minimum wage for Nigerian workers is grossly insufficient to sustain the average worker and his family.

Soludo while addressing the State workers during the May Day celebration held at Dr Alex Ekwueme Square, Awka, the State capital, on Monday said “paying N30,000 national minimum wage to Nigerian workers is subjecting them to living in denial.

“I say this because the amount cannot afford a bag of 50kg rice, let alone other domestic problems staring families on the face on daily basis.”

The Governor who was responding to the litany of challenges reeled out by the chairmen of NLC and his TUC counterpart, said he recently raised the salaries of workers by 10 per cent to cushion the effects of inflation on workers.

He said that as an expert in economics, he is aware of inflation in the economy which had made workers to be in serious pain given what they earn as salaries.

…Ngige knocks workers, points disregard to law 

Meanwhile, on critical note, the Minister of Labour and Employment, Senator Chris Ngige, has slammed workers who he said do not like to obey laws.

Ngige who has been under serious criticisms for withholding salaries of members of the Academic Staff Union of Universities (ASUU), during their eight months strike, which are yet to be paid, and those of health workers under the umbrella of the Nigeria Medical Association on a four months strike, said he has been lampooned for his grounds to enforce labour laws over strikes embarked upon by labour unions.

Speaking on Labour laws among other issues on Arise Television’s Morning Show program, Ngige, said, “People in Nigeria don’t like to obey laws. The statutes are there. The laws of the country are there. If you even try to enforce the law, you look odd. I am an oddity today because I enforced Section 43 of the Trade Dispute Act, which says that if a worker withdraws his services, he will not be entitled to any pay; that’s the right to go on strike. It’s allowed, you can go on strike, but your employer has the right to keep that money that is due to you, and if you’re on essential services employ people to keep the services running. It’s in the ILO statute books and principles on strike.”

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Power transmission: TCN unbundled, as FG orders registration of new Independent System Operator

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…Nigerians enjoying improved power supply — Presidential aide

…As FG installs more substations in Lagos, Kebbi to boost power supply

The Federal Government through the Nigerian Electricity Regulatory Commission (NERC) has ordered the registration of a new Independent System Operator.

This function was earlier carried out by the Transmission Company of Nigeria (TCN), however, with the new directive, the TCN will cease to act in this role.

This directive Nigerian NewsDirect is coming on the heels of perceived allegations of mismanagement and ineffectiveness of the TCN to address repetitive issues on the nation’s power grid.

It is noteworthy that since privatisation, the national grid has collapsed more than 140 times thus drowning the nation into darkness.

In the order signed by the NERC Chairman, Engr. Sanusi Garba and Vice Chairman, Musiliu Oseni, the TCN has been ordered to transfer all system and market operations related assets, contracts and staff to the new entity.

The Nigerian Independent System Operator Limited will be responsible for managing the national grid and other system operations related market contracts and transactions.

TCN as a successor company of the defunct Power Holding Company of Nigeria, PHCN, was issued with two licenses by NERC as a Transmission Service Provider and Independent System Operator.

The NERC order formally unbundles the TCN into Transmission Service Provider, TSP and Independent System Operator, as prescribed in the Electricity Act 2023.

The Commission’s action is seen as a reaction to the frequent national grid collapses that have seen four nationwide blackouts this year.

The Commission ordered BPE to “incorporate, no later than 31 May 2024, a private company limited by shares under the Companies and Allied Matters Act to carry out the market and system operation functions stipulated in the EA and the terms and conditions of the system operation licence issued to TCN.”

“The name of the company shall, subject to availability at Corporate Affairs Commission, be the Nigerian Independent System Operator of Nigeria Limited (‘NISO’). ii. The object clause of the Memorandum of Association of the NISO as provided in section 1 6(2) of EA shall be as follows a. to hold and manage all assets and liabilities pertaining to market and system operation on behalf of market participants and consumer groups or such stakeholders as the Commission may specify; b. to carry out all market and system operation-related contractual rights and obligations novated to it by the Transmission Company of Nigeria;

“c. to negotiate and enter into contract for the procurement of ancillary services with independent power producers, successor generation licensees, etc and generally carryout market and system operations functions as specified under the EA and the terms of its license in the interest of market participants and system users; d. to carry out all market and system operation-related contractual rights and obligations novated to it by the Transmission Company of Nigeria; the income and property transferred to it by the TCN or whensoever derived shall be applied solely towards the promotion of its objects as set forth in its incorporation documents and no portion thereof shall be paid or transferred directly or indirectly by way of dividend, or bonus otherwise howsoever, by way of profit to the subscribers: provided that nothing herein contained shall prevent the payment in good faith of remuneration to any contractor or staff of the company in return for any services rendered to the Company.”

The Commission said the NISO’s initial subscribers shall be the Bureau of Public Enterprises and Ministry of Finance Incorporated (MOFI) while the final shareholding structure of NISO shall be determined after further consultations with government, market participants and industry stakeholders.

Meanwhile, a Presidential aide to President Bola Ahmed Tinubu has stated that Nigerians have been enjoying improved power supply.

The President’s Special Assistant on Social media, Dada Olusegun in a series of tweets made this known.

According to him, “Nigeria’s second largest hydropower plant; the ZUNGERU POWER PLANT, was connected to the national grid last week leading to an improved supply in electricity to many areas across the country.

“The ambitious power plant represents a major achievement of the APC led government starting under former President Muhammadu Buhari who handed over engineering, procurement, and construction to a Chinese consortium comprising China National Electric Engineering Company (CNEEC) and Sinohydro after initial construction began in 2013.

“President Tinubu ensured continuity with the concession process which is set to earn Nigeria $70m annually for the next 30 years for managing the complex.

“The gigantic reservoir has a capacity to hold 10.4bn cubic meters of water. The power project is estimated to generate 2.64 billion kWh of electricity annually, which will meet close to 10 percent of Nigeria’s total domestic energy needs. Slowly but surely, we will get there,” He tweeted.

Similarly, more mobile substations acquired under the Federal Government-Government Siemens deal are being installed in parts of the country to boost the wheeling capacity of the transmission network.

Minister of Power, Adebayo Adelabu who inaugurated the mobile substations in Lagos and Birnin Kebbi, said the infrastructure stands as a beacon of hope for businesses and households towards achieving uninterrupted power supply.

The two Substations installed have a total wheeling capacity of 123 megawatts which is expected to enhance electricity supply.

Minister of Power, Adebayo Adelabu, described the project as a testament to the renewed hope agenda of President Bola Tinubu in accelerating the delivery of the Siemens project thereby transforming the power sector.

The power minister implored Nigerians to safeguard the infrastructure against vandalisation as the success of government interventions in the sector hinged on collective responsibility.

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2024 is for expansion, higher dividends for our shareholders — Transcorp Hotels MD

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…Gives reasons for proposed 5,000 capacity event centre in Abuja

By Emmanuel Atokolo

The Managing Director/CEO of Transcorp Hotels Plc, Dupe Olusola has stated that the year 2024 for the company is targeted at expansion and delivering higher dividends for her shareholders.

Speaking in an interview on Arise TV, Dupe explained that the company is solely focused on expansion as they look to remain a leading Hospitality brand in Nigeria through massively investing in the Hospitality business.

The Transcorp Hotels MD also seized the occasion to clarify why the company is embarking on the construction of an event centre.

Dupe explained that Transcorp is building a 3,500 to 5,000 capacity events centre in Abuja to ensure that high profile events can be held in Nigeria and in turn generate revenue for themselves while also tackling unemployment.

She also mentioned a 315 rooms 5-star Hotel at Ikoyi on a 14,000 square metres land that will provide a top notch leisure and relaxation environment with side attractions.

When quizzed about how Transcorp has been able to increase asset growth and revenue base, the CEO explained that

Dupe stated that all the stakeholders during the AGM were pleased with the financial statements and it was approved that a 20 kobo dividend be paid to all shareholders which is a 54% increase from the previous year which was 13 kobo.

She added that the Hotel recorded 72 percent growth in the first quarter (Q1) of 2024, 5 billion in net profit and Occupancy rate increased to 83 percent as guests are always happy to come back and bring potential guests too.

“Profit before tax also increased by 105 percent, so also did revenue as it increased by 36 percent amounting to N41.5 billion.” She narrated.

The MD added that to add to the shareholders joy over the profitability witnessed so far, there are further plans to ensure that they make more progress in the current year.

She said that 2024 will be about expansion through an aggressive budget.

Likewise, Dupe mentioned that they have a Hospitality business platform named “Aura by Transcorp PLC” through which you can make online bookings from anywhere.

She noted that it also helps to enlarge their foot prints as inventory has increased to 5000 and they are looking to further solidify their rating in Nigeria in the next 2-3 years, then expand outside the shores of Nigeria in the next 3-5 years.

In her response to how Transcorp made much profit in the Q1 of 2024, Mrs Olusola clarified that resilience has been a key factor as they don’t take for granted that they are a leading Hospitality brand but they strive to improve their services as they continually work on guest experience which is a vital factor in the Hospitality business.

She also explained that the Covid era taught them to think outside the box which motivated them to make arrangements to host diverse guests as some people don’t book rooms but come with their family to just relax and go back.

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Customs FX rate hiked to N1,441/$

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The foreign exchange (FX) rate for import duties to N1,441.58 per dollar has been hiked by the Nigeria Customs Service (NCS) as observed on Friday on the federal government’s single window trade portal.

The increase represents a 4.94 percent as against the N1,373.64/$ adopted on May 1.

The rate adopted by Customs was observed on Friday on the federal government’s single window trade portal.

The customs typically adopts FX rates recommended by the Central Bank of Nigeria (CBN) for import duties based on trading activities in the official FX market.

The rate is higher than the official FX rate of N1,402/$ recorded on May 2, and N1,390 traded on May 1.

Recall that according to CBN on February 23, the Customs and other related parties must adopt the closing rate in the official window for import duty.

The apex bank said the FX rate at the point of importation should be used for import duty assessment until the termination date and clearance are finalised.

Meanwhile, the Chief Executive Officer (CEO) of the Centre for the Promotion of Private Enterprise (CPPE), Muda Yusuf said such a movement could be detrimental to the economy.

He said the economy’s real sector activities such as planning, production, and other activities are negatively impacted by the frequent changes.

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