Africa’s richest man, Aliko Dangote, announced that the Nigerian National Petroleum Company (NNPC) Limited no longer holds a 20 percent stake in Dangote Petroleum Refinery. During a press briefing at the refinery on Sunday, Dangote revealed that NNPC’s stake has been reduced to 7.2 percent due to their failure to pay the remaining balance of…
The Federal Government has brought charges against eight Chinese nationals and one Nigerian for engaging in illegal mining activities in the Lokpaukwu community of Umuchieze, Umunneochi Local Government Area, Abia State. In a statement released by Segun Tomori, the Special Assistant on Media to the Minister of Solid Minerals Development, the suspects were apprehended by…
The meeting between President Bola Tinubu and the leadership of the organised labour concluded without any clear details on the discussions held. Following the one-hour session, Joe Ajaero, President of the Nigeria Labour Congress (NLC), informed the press that financial matters were not part of their discussion with the President. When asked whether the meeting…
Long lines for Premium Motor Spirit (PMS), commonly known as petrol or fuel, reemerged in the Federal Capital Territory (FCT), Abuja, and parts of Niger and Nasarawa States on Friday and Saturday. This resurgence follows the closure of numerous filling stations operated by independent marketers. Motorists flocked to the few stations still dispensing petrol, primarily…
A total of 2,659 members of the National Youth Service Corps (NYSC) from across Nigeria have advanced to the final phase of the NNPC Foundation Business Pitching Exercise. Scheduled from July 2nd to 10th, 2024, this event is a crucial component of the NNPC Foundation’s Financial Literacy Program, which engaged over 284,000 corps members in…
In a bid to ensure food security, the Defence Headquarters has deployed troops across the nation to protect farmers during this year’s harvest season. Major-General Edward Buba, Director of Defence Media Operations, announced this during a briefing on military operations for the second quarter of 2024 in Abuja. General Buba reaffirmed the Defence Headquarters’ commitment…
Dr. Kabiru Minjibir, President of the Medical and Health Workers Union of Nigeria (MHWUN), has advocated for the inclusion of more labor leaders in leadership positions across the country. During a meeting with Comrade Onuh Edoka, Special Assistant to the Governor of Kogi State on Labor Matters, Dr. Minjibir encouraged health workers in Kogi State…
The Federal Executive Council (FEC) has opted to defer deliberations on the memorandum concerning the National Minimum Wage that was presented for discussion. This decision was disclosed by the Minister of Information and National Orientation, Alhaji Mohammed Idris, during a briefing with State House correspondents. According to Alhaji Mohammed Idris, the purpose behind stepping down…
The Nigerian Communications Commission (NCC) has announced that all SIM cards used in Nigeria are now produced locally, marking a significant milestone in the commission’s efforts to promote local content and indigenous participation in the telecommunications industry. Babagana Digima, Head of New Media and Information Security at NCC, credited this achievement to the work of…
The Correspondents’ Chapel of the Nigeria Union of Journalists (NUJ) in Kano State has announced the immediate lifting of its ban on covering activities of the Kano State Government. Chairman of the Chapter, Aminu Ahmed Garko, explained in a statement that the 14-day boycott was initially implemented to protest the government’s treatment of journalists and…
The Central Bank of Nigeria (CBN) has refuted allegations that it plans to revoke the licenses of three banks following regulatory action against Heritage Bank Plc. This clarification was provided in a statement issued by the apex bank on Tuesday. The CBN described the allegations as false and intended to incite panic within the financial…
Amid the ongoing nationwide strike, the Labour Union has shut down the national grid, resulting in a widespread blackout across the country. The Transmission Company of Nigeria (TCN) confirmed the development in a press statement signed by General Manager of Public Affairs, Ndidi Mbah. According to the statement, the national grid was shut down around…
The Central Bank of Nigeria (CBN) has revoked the license of Heritage Bank Plc with immediate effect. This decision was announced in a statement by the Acting Director of Corporate Communications, Hakama Sidi Ali. “The action has become necessary due to the bank’s breach of Section 12 (1) of BOFIA, 2020. The Board and Management…
The federal government has been urged to reinstate the N35,000 wage award to workers, which was suspended in February 2024 pending further negotiations on a new minimum wage. This request was part of an agreement reached during a last-minute meeting convened on Sunday by Senate President Godswill Akpabio and House of Representatives Speaker Tajudeen Abbas,…
On Sunday, labor unions in the aviation sector announced plans to shut down airports nationwide, adhering to the directive from the Nigerian Labour Congress (NLC) and the Trade Union Congress of Nigeria (TUC), starting Monday, June 3. Newsmen reports that the NLC and TUC called for an indefinite nationwide strike on Friday, citing the federal…
The Federal Government has cautioned the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) against abandoning ongoing negotiations over the new minimum wage. The government has urged the organized labor groups to suspend their planned nationwide indefinite strike set to commence on Monday, June 3. In a statement on Sunday, Attorney General of…
Attorney General and Minister of Justice, Prince Lateef Fagbemi, has condemned the call for industrial action by organized labour, deeming it “premature, ineffectual, and illegal.” This statement follows the Nigerian Labour Congress (NLC) and Trade Union Congress (TUC) declaration of an indefinite nationwide strike starting June 3, 2024. Prince Fagbemi pointed out that discussions on…
The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have announced an indefinite nationwide strike starting Monday, June 3, 2024, due to a deadlock in negotiations over a new minimum wage and increased electricity tariffs. TUC President Comrade Festus Osifo made this announcement during a joint news conference with NLC and TUC leaders…
The Tripartite Committee on the new minimum wage is set to reconvene on Friday, May 31, 2024, as the Federal Government and Organised Labour continue their discussions. This announcement was made by the Committee’s Secretary, Ekpo Nta. In the previous meeting held on Tuesday, labour unions revised their demands, lowering the proposed minimum wage from…
The Federal Government has granted the International Organization of Legal Metrology (OIML) Certification System to Zonal Coordinators of Weights and Measures. This announcement was made by Nura Rimi, Permanent Secretary of the Federal Ministry of Industry, Trade, and Investment, during a three-day capacity-building workshop in Nasarawa State, north-central Nigeria. Rimi emphasized that these standards are…
On Tuesday, the naira traded at N1,339.33 to the dollar in the official market, maintaining the same rate as the previous day. Data from the FMDQ Exchange, which oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), indicated that the naira’s value remained unchanged from Monday to Tuesday. The volume of currency traded, however, saw a…
Organised Labour has once more rejected the Federal Government’s proposal of a N60,000 minimum wage. Comprising the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), Organised Labour has turned down the latest offer of N60,000 as the new minimum wage. In a recent development, Organised Labour reduced its demand from N497,000 to N494,000….
The Central Bank of Nigeria (CBN) has reportedly dismissed 200 staff members amidst the country’s economic difficulties. A senior staff member, who requested anonymity, confirmed this development to newsmen on Friday night, stating, “Over 200 staff members were issued sack letters from the Central Bank of Nigeria on Friday. However, the exact number of dismissed…
The Federal Government is poised to finalize a $20 billion deal to enhance oil and gas production in Nigeria, according to the Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri. Lokpobiri made this announcement on Thursday in Abuja during a courtesy visit by a delegation from Schlumberger (SLB) Ltd., led by its global…
The Nigeria Labour Congress (NLC) Lagos State Chapter will begin picketing Turkish Airlines in Lagos starting Tuesday. This action is a response to the airline’s alleged unfair treatment of its employees. The NLC demands the reinstatement of all Turkish Airlines staff who were dismissed, forced to resign, or left their jobs under duress, including those…
Sen. Abubakar Atiku Bagudu, the Minister of Budget and Economic Planning, has urged Planning Officers nationwide to embrace technology-driven approaches to enhance budgeting and planning procedures, particularly in rural areas. During a visit to Abuja by Muktar Ahmed, the Commissioner of the Kaduna State Planning and Budget Commission, Sen. Bagudu emphasized the importance of leveraging…
In anticipation of Nigeria’s potential interest rate hike, the Central Bank of Nigeria Monetary Policy Committee convenes today, 26th February, in Abuja. Scheduled for 26th and 27th February, this two-day session marks the inaugural meeting under the stewardship of CBN Governor, Olayemi Cardoso, following his appointment in September of the previous year. The previous MPC…
President Bola Tinubu will, on Saturday November 18, depart Abuja for Berlin, Germany, to attend the G20 Compact with Africa (CwA) Conference on November 20, 2023, hosted by German Chancellor Olaf Scholz. According to a statement by his media aide Ajuri Ngelale, President Tinubu will join other Heads of State and Government of CwA member…
Members of the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) on Thurday have mobilised their members for a protest at the Nnamdi Azikiwe International Abuja. The organized labour gathered at the airport around 8:58am to enforce their directive to members working in the aviation sector to stop all flights to Owerri, the…
Edited by Damilola Adeleke Oil prices resumed their downward trend on Friday, facing a weekly decline of over 3%. Concerns about global demand were ignited by a higher-than-expected interest rate hike in the United Kingdom and warnings of impending rate increases in the United States. Brent futures experienced a slip of 56 cents, equivalent to…
Edited by Damilola Adeleke In Nigeria, a recent study conducted by Genesis Analytics in collaboration with the Gender Centre of Excellence and the Central Bank of Nigeria has revealed that approximately 25 million adult women in the country do not possess formal bank accounts. Furthermore, it was found that over 16 million rural women rely…
