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Nigeria’s economic crisis deeper than Great Depression of 1929 – Afenifere
Nigeria’s economic crisis deeper than Great Depression of 1929 – Afenifere
The pan-Yoruba sociopolitical group, Afenifere, has accused President Bola Ahmed Tinubu’s administration of driving Nigeria into an economic crisis even more severe than the Great Depression of 1929.
Afenifere claims Nigeria’s current economic woes surpass those of the Great Depression, highlighting sharp declines in the naira’s value, real wages, and overall economic performance since 2014.
In a statement released yesterday, Afenifere, led by Chief Ayo Adebanjo, condemned Tinubu’s response to a recent visit by the Patriots, headed by Chief Emeka Anyaoku, who urged the need for a new constitution.
President Tinubu reportedly said he would focus on economic reforms before considering restructuring. Afenifere finds this approach unacceptable.
Anyaoku, the former Commonwealth Secretary-General, led the Patriots to the Presidential Villa to advocate for a new constitution. This request has sparked varied reactions from leaders across Nigeria’s geopolitical zones.
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Afenifere, in a statement signed by Adebanjo and National Publicity Secretary Prince Justice Faloye, argued that the president’s economic reforms have brought “economic hardship” and a lower standard of living.
The group insists that restructuring is vital, as it lays the groundwork for economic recovery and addresses Nigeria’s diverse challenges.
“We urge the president to rethink his strategy. A holistic plan addressing economic and political reforms simultaneously is essential, not just isolated economic actions,” the statement said.
Afenifere asserts that Nigeria’s economic problems stem from its political structure, which favors central control and economic dependency over prosperity.
“A constitution is a social contract between the government and its people. With Nigeria’s centralized and imbalanced system, both governance and societal welfare suffer. A new social contract with balanced political and economic responsibilities is needed,” the statement continued.
“Responsible leadership should push for significant economic and political restructuring, not just superficial reforms. Devolving power to federating units, as recommended in the president’s party’s El-Rufai Committee report, is key to achieving peace, harmony, and national unity,” the group concluded.
Nigeria’s economic crisis deeper than Great Depression of 1929 – Afenifere
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Just In : IGP orders redeployment of CPs in Rivers, Delta, FCT
Just In : IGP orders redeployment of CPs in Rivers, Delta, FCT
Nigeria’s Inspector-General of Police, Kayode Egbetokun, has ordered the immediate redeployment of the Commissioners of Police of Rivers State Command, Delta State Command and the Federal Capital territory.
The order covers the redeployment of the CP Rivers State Command, CP Olatunji Disu as the new CP FCT; CP Delta State Command, CP Abaniwonda Olufemi as the new CP Rivers State Command and CP FCT, CP Peter Opara as the new CP Delta State.
Adejobi added that, following the approval of the Police Service Commission, the Inspector-General of Police has also deployed four (4) CPs as Commissioners of Police for Abia, Lagos, Ebonyi, and Akwa-Ibom State Commands.
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The deployment includes the posting of CP Danladi Nda to Abia State Command; CP Olanrewaju Ishola Olawale to Lagos State Command; CP Anthonia Adaku Uche-Anya, fdc to Ebonyi State Command and CP Festus Eribo to Akwa-Ibom State Command.
The posting of these strategic managers reflects the mission of the Inspector-General of Police to strategically reposition the Police Force and ensure maximum utilization of human resources available to the Force.
The IGP has, however, urged the new CPs of State Commands to ensure diligence in the discharge of their lawful duties and adopt innovations that would mitigate security challenges in their respective areas of responsibilty.
He further encouraged them to key into the police reform plans, which will help the progress of the Nigeria Police Force and the growth of the country in general.
Just In : IGP orders redeployment of CPs in Rivers, Delta, FCT
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Salary: FG vows to prosecute private employers paying below N70,000
Salary: FG vows to prosecute private employers paying below N70,000
The Federal Government has warned companies in the private sectors against paying below the new minimum wage of N70,000.
This is even as the government implored agencies recruiting for the private sector to adhere to the N70,000 minimum wage.
The FG explained that the new minimum wage was aimed at cushioning the impact of the current harsh economic reality and failure to pay it would could attract severe penalty.
The Permanent Secretary, Ministry of Labour and Employment, Kachollom Daju, made this known on Wednesday.
Speaking at the 13th Annual General Meeting of the Employers Association for Private Employment Agencies of Nigeria, held in Ikeja, Lagos, she noted the new minimum was now a law.
She stated that no Nigerian worker, whether in government or private employment, should be paid less than the minimum wage.
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Daju, who was represented by the Director of Employment and Wages of the ministry, John Nyamali, said, “The minimum wage is now a law, and as a result, it is a punishable crime for any employer to pay less than N70,000 to any of its workers.
“The private employment agencies should make it compulsory in any contract they take from their principal that their workers should not earn less than the minimum wage. The least paid worker in Nigeria should earn N70,000, and I think that should be after all deductions.
“The minimum wage is a law, and you can be jailed if you fail to implement it. The Federal Government is committed to ensuring that the least paid worker goes home with N70,000.”
In his remarks, the President of the Employers Association for Private Employment Agencies of Nigeria, Dr. Olufemi Ogunlowo, asked the government and Nigeria Labour Congress to clarify whether the N70,000 minimum wage is net or gross, stating that all vague aspects in the Act should be highlighted and explained.
According to Okoye, the EAPEAN is already committed to the minimum wage, as well as providing decent jobs for Nigerians and guarding against the exploitation of human resources.
“As a labour union in the private sector, we are committed to the implementation of the minimum wage. We are a law-abiding and guided association. Our principals and clients have also keyed into the minimum wage.
“However, the government must clarify whether the N70,000 minimum wage is net or gross. The government and NLC should address all ambiguities in the minimum wage,” he stated.
Salary: FG vows to prosecute private employers paying below N70,000
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Tinubu govt inherited hardship from Buhari administration – Emir
Tinubu govt inherited hardship from Buhari administration – Emir
The Emir of Minna, Alhaji Umar Farouk Bahago, has stated that the economic challenges currently faced by Nigerians were inherited from the administration of former President Muhammadu Buhari. The Emir made these remarks during a sensitisation event on federal government intervention programmes, organized by the Office of the Minister of Information and National Orientation in Minna, Niger State.
Represented by Alhaji Maikudi Achaza, the Hadinin Minna, the Emir praised President Bola Tinubu for his efforts in addressing the issues caused by past corruption. He pointed out that many citizens remain unaware of Tinubu’s initiatives due to inadequate communication, particularly in local languages.
Former Head of State General Abdulsalami Abubakar also expressed concern about the worsening hardships faced by Nigerians. He urged the Tinubu administration to take urgent action to alleviate the suffering of the people. During a courtesy visit from the Campaign for Democracy and Human Rights, a Minna-based civil society group, Abdulsalami criticized the distribution of palliatives, stating they are not an effective solution to the rising cost of living.
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He emphasized that leaders need to connect with ordinary citizens and understand their struggles, noting that high transportation costs, increased fuel prices, rising school fees, and lack of financial resources are making life difficult for many.
Abdulsalami proposed that the government should sell essential food items at reduced prices to help citizens cope with inflation, rather than relying solely on palliatives. He also urged Nigerians to remain peaceful ahead of the planned #EndBadGovernance protests on October 1, 2024, and advised the government not to take citizens for granted.
The Minister of Information, Mohammed Idris, represented by Asabe Sule Garba, emphasized that the event aimed to raise awareness about the federal government’s efforts to improve the lives of citizens. He reiterated President Tinubu’s commitment to accountability and transparency and called for public support.
Tinubu govt inherited hardship from Buhari administration – Emir
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