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Updated: ASUU ends nine-month strike, may resume with virtual lectures

Published

4 years ago

December 24, 2020

Govt to decide reopening date due to COVID-19

University students in Nigeria can now heave a sigh of relief as the Academic Staff Union of University, on Wednesday, announced the suspension of its nine-month old industrial action.

National President of ASUU, Biodun Ogunyemi, made the announcement during a briefing of the union in Abuja.

Minister of Labour and Employment, Chris Ngige, on Tuesday, had hinted that the prolonged strike by the university lecturers would be called off before January 15.

He also said in an interview on Wednesday that part of the agreement between the two parties was that the lecturers would conduct virtual teaching and restart academic activities before the January 18 stipulated by the Presidential Task Force on COVID-19.

Ogunyemi said ASUU’s decision to suspend the strike came after its National Executive Council (NEC) had at an emergency meeting ratified the agreements reached with the Federal Government at a meeting held on Tuesday which addressed most of the demands of the union.

He said that a committee had been set up to monitor the implementation of the agreements.

“On the basis of this, the National Executive Council meeting has decided to suspend its strike today. But we will not hesitate to resume the strike if government fails to keep to the agreement,” he said.

Ogunyemi noted that the actual day for the reopening of the schools, considering the COVID-19 pandemic, would be decided by the Federal Government and Senate.

He thanked the students and their parents for their understanding throughout the nine-month strike period.

He said, “No amount of sacrifice would be too much to get the matter resolved as long as the government is consistent with its commitments.”

When asked if the government had kept its promise to start payment of salaries arrears of ASUU members, Ogunyemi said that it had started.

He said it was also agreed that no ASUU member should suffer any loss of deserved benefits as a result of participation in the strike.

He said the union resolved to pursue the areas in the ASUU-FG agreement of 2009 and Memorandum of Action 2013 that require legislation such as the mainstreaming of the Earned Academic Allowances (EAA) into the annual budget and amending the National University Commission (NUC) Act 2004.

Ogunyemi listed key demands of ASUU for which an agreement was reached to include, the immediate release of earned academic allowances and mainstreaming of the EAA into the annual budget, using the agreed formula, to immediately engage the universities and other research centres in the fight against COVID-19.

As part of the agreement, according to him, the Federal Government is to expedite action on the test processes and ensure the deployment of the University Transparency and Accountability Solution (UTAS), the union’s preferred alternative for the payment of salaries in the university system.

He said the integrity test on UTAS was at the last stage now.

In addition, he said that ASUU expected the government to fast-track the FG-ASUU renegotiation to ensure its conclusion within the timelines agreed by both parties.

Ogunyemi said, “ASUU has undertaken to go back to classrooms, laboratories to do our best for our students and our country. We are going back to rekindle the motivation and aspirations in our members to strive to encourage our students to excel, all in expectations that governments, both federal and states, will sincerely fullfil their own part of the bargain.”

He listed some of the key demands tabled by ASUU, and which ignited the current strike, to include funding for revitalisation of public university infrastructure, earned academic allowances, withheld salaries, proliferation of state universities, visitation panels, reconstitution of the government re-negotiation team and the replacement of IPPIS with UTAS.

Ngige, also giving an insight into the agreement with the union, said ASUU accepted that lecturers would do extra time to recover the lost ground.

He said, “The Senate of the universities can arrange for virtual teaching to commence in the first week of January, next year. It is a win-win situation for everybody.

“We want to congratulate all Nigerians the parents, the National Assembly and ASUU for the resolution of the dispute. For both sides, it’s a conditional foothold because while the Federal Government pledged to fulfil its part, ASUU also promised to do extra work so that lost time would be recovered . They also pledged in the agreement to do virtual teaching.”

He also spoke on the amount released to ASUU and the universities under the agreement, saying the FG had approved the release of N40 billion for earned allowances to all categories of staff in the universities.

“It is not money for dash; the university vice chancellors will scrutinise the process and ensure that only staff that merited to be paid are allowed to partake in it,” he added
Ngige, however, said the government would release N30 billion revitalisation fund to the universities by January, adding that government would not give ASUU any excuse to go on strike again.

He promised to ensure the government keep its part of the agreement.

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Adebayo Ogunlesi, 2 other Nigerians make Forbes 50 wealthiest Black Americans list 2024

Published

2 days ago

December 20, 2024

Trends Admin

Adebayo Ogunlesi

Adebayo Ogunlesi, 2 other Nigerians make Forbes 50 wealthiest Black Americans list 2024

Forbes has unveiled its 2024 ForbesBLK 50 list, celebrating the achievements of the wealthiest and most influential Black Americans.

Among the honorees are three Nigerians—Adebayo Ogunlesi, Tope Awotona, and Wemimo Abbey—whose groundbreaking contributions and entrepreneurial successes have earned them places on this prestigious list.

The ForbesBLK 50 is a reimagining of Forbes’ 2009 Wealthiest Black Americans list, which then featured figures like Oprah Winfrey, Michael Jordan, and Magic Johnson.

While net worth remains a core metric, the new list also highlights innovation, societal impact, and leadership across diverse industries.

Adebayo Ogunlesi, with a net worth of $1.7 billion, stands out as a pioneering force in global infrastructure investment. As chairman and cofounder of Global Infrastructure Partners (GIP), Ogunlesi led the private equity firm through a transformative acquisition by BlackRock in 2024 for $12.5 billion.

Ogunlesi, a Harvard-educated lawyer and banker, previously spent over two decades at Credit Suisse before launching GIP in 2006.
His influence extends beyond business, as he has become a key figure in reshaping infrastructure investment on a global scale.

Also, Nigerian entrepreneur,Tope Awotona, the founder and CEO of Calendly, has redefined efficiency in scheduling and holds a net worth of $1.4 billion.

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Born in Lagos, Awotona moved to Atlanta as a teenager and pursued business and management information studies at the University of Georgia. After early entrepreneurial setbacks, he launched Calendly in 2013, driven by frustration with cumbersome meeting coordination. The platform, which raised $350 million in 2021, is now valued at $3 billion and serves millions of users worldwide.

Although not a ranking, Wemimo Abbey, at just 32, is the youngest Nigerian on the list and cofounder of Esusu, an African fintech company addressing financial inclusion. Esusu helps renters build credit by reporting rent payments to credit bureaus, a service utilized by more than 20,000 properties and benefiting 1.8 million Americans.

In 2022, Esusu achieved a $1 billion valuation following a $130 million funding round. Abbey, who grew up in Lagos, has a background in mergers and acquisitions consulting and a passion for leveraging technology to drive social impact.

These three Nigerians show innovation, resilience, and the drive to address pressing global challenges. Their inclusion on the ForbesBLK 50 list is a foretelling of their entrepreneurial vision and the increasing influence of Nigerians on the global stage.

The ForbesBLK 50 list, launched under ForbesBLK, aims to go beyond net worth to measure impact and influence within the Black community and beyond.

Adebayo Ogunlesi, 2 other Nigerians make Forbes 50 wealthiest Black Americans list 2024

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Northern youths say new tax regime bill designed to ruin region

Published

3 days ago

December 19, 2024

Trends Admin

President Bola Ahmed Tinubu

Northern youths say new tax regime bill designed to ruin region

Coalition of Northern Groups, Taraba State chapter, has expressed concerns that the proposed Tax Reform Bill by President Bola Ahmed Tinubu’s administration is cunningly designed with all premeditated intent and purposes to further develop the southern Nigeria at the expense of the north.

The northern youths, who lamented the economic hardship in the country, concluded that the effect bears more scars on the region than any other.

Aside from the new Tax Reform Bill, the group also condemned the federal government’s land-border closure, alleging that the ideas favour the South more than the North.

The group, in a statement signed by its coordinator, Comrade Idris Ayuba, made available to Vanguard Correspondent in Ilorin alleged that most difficulties the North faces are the repercussions of the decisions, citing the effect of Petroleum subsidy removal, land border closure and the new tax regime as few examples.

He noted in the statement that”reduction in the consumption of a capital commodity like petroleum occasioned by the subsidy removal is not a manifestation of a positive policy impact; it rather indicates reduced economic activities that force people out of energy consumption,”

On the land border closure, Idris said: “One of the primary concerns is the impact of this policy on the regional economy, which has been heavily reliant on cross-border trade with neighbouring countries. The closure has resulted in significant losses for traders and business owners in the region, exacerbating poverty and unemployment.

“The policy has given undue advantage to Southern Nigeria, for instance, the closure has led to an increase in demand for locally produced goods in Southern Nigeria, which has boosted the southern regional economy.

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“Additionally, the Southern region has benefited from the increased revenue generated from customs duties and taxes on imported goods.

“The closure has also created an imbalance in the distribution of economic opportunities, with Southern Nigeria having greater access to ports and international trade routes.

” This has resulted in a concentration of economic activity in the Southern region, further marginalizing Northern Nigeria,” Idris explained in the statement.

According to the coordinator, one of the primary concerns is the impact of the land-border closure on the regional economy, which they claimed has been heavily reliant on cross-border trade with neighbouring countries.

They said that the closure has resulted in significant losses for traders and business owners in the region, saying: “The policy has given undue advantage to Southern Nigeria, for instance, it has led to an increase in demand for locally produced goods in Southern Nigeria, which has boosted the southern regional economy.

” Additionally, the Southern region has benefited from the increased revenue generated from customs duties and taxes on imported goods.

“The closure also created an imbalance in the distribution of economic opportunities, with Southern Nigeria having greater access to ports and international trade routes.

”This has resulted in a concentration of economic activity in the Southern region, further marginalising Northern Nigeria,” the Northern youths also posited in the statement

They stressed that the new tax reforms, particularly its revenue sharing formula will disproportionately affect Northern Nigeria, saying:

“One potential impact is a reduction in the region’s revenue allocation, which could hinder its ability to fund development projects and provide essential services to its population.

“Northern Nigeria is already grappling with significant development challenges, including poverty, infrastructure deficits, and limited access to education and healthcare. A decrease in revenue allocation could exacerbate these issues,” it said, urging the federal government to retrace and reconsider certain conditions before taking certain steps in certain directions.

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Still, on the tax reforms, the group said it would widen the economic gap between Northern and Southern Nigeria since the Southern region is already home to many of Nigeria’s major industries and economic hubs, noting that a more favourable revenue-sharing formula could further consolidate its economic advantage.

“This could lead to a brain drain and talent flight from Northern Nigeria, as individuals seek better economic opportunities in other parts of the country.

” This policy if allowed to pass, will bring about national disintegration, strife and bad blood between the North and South.

“The tax reforms could also hurt the region’s agricultural sector, which is a significant contributor to its economy,” it said.

Urging policymakers to consider the potential impacts of these reforms and work to ensure that they do not exacerbate the existing economic inequalities, the group advised that the North’s contribution to the nation’s coffers should not be solely measured by its economic output.

“The region’s agricultural sector, for instance, is a vital component of the national economy. The Northern farmers produce a significant portion of the country’s food, which deserves recognition and compensation.

“It’s essential to recognize the historical and structural inequalities that have hindered the North’s economic development. The proposed tax reform bill should aim to address these disparities rather than perpetuate them.

“A more equitable revenue-sharing formula would acknowledge the North’s unique challenges and contributions, ensuring that the region receives a fair share of the national revenue.

They however, lamented many abandoned federal government Projects in North, mentioning the Mambila hydroelectric project that has been in the works for over 40 years, with the first feasibility study conducted in 1972; “the project has faced unexplainable delays.

“The Mambilla Hydropower Project is estimated to cost around $5.8 billion, with the Chinese Export-Import (Exim) Bank funding 85 per cent of the project, while the Federal Government of Nigeria provides the remaining 15 per cent.

“The project is expected to generate 3,050 megawatts of electricity, making it the largest power-generating installation in Nigeria.

“The Jalingo-Numan Road project has equally lingered for more than 15 years without a tangible commitment to even start it. It’s essential to note that the project is crucial for connecting the Taraba State to other parts of the country.

“The failure to complete these projects perpetuates the existing disparities between the North and the South. The lack of investment in critical infrastructure hinders the region’s ability to attract businesses, create jobs, and stimulate economic growth, create jobs, and stimulate economic growth,” they said.

Northern youths say new tax regime bill designed to ruin region

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BREAKING: National Assembly extends lifespan of 2024 budget

Published

4 days ago

December 18, 2024

Trends Admin

Senate President, Godswill Akpabio

BREAKING: National Assembly extends lifespan of 2024 budget

President of the Senate, Godswill Akpabio, has explained that the impressive performance of the 2024 national budget encouraged members of the National Assembly to extend the lifespan of the 2024 budget beyond December 31 this year.

Akpabio gave the explanation Wednesday in his welcome address during the presentation of the 2025 national budget to the joint session of the federal parliament.

He said, “We have noted the 2024 budget performances of 50% for capital expenditure and 48% for recurrent expenditure respectively.

“Given these great achievements, we have deemed it necessary to extend the life of the 2024 budget to June 30, 2025.

“The enabling law for this extension has already been put in place by this patriotic Assembly, as a testament to our appreciation for the great performance of the budget, ensuring we build upon your momentum.

“We commend your steadfast commitment to collaborate, cooperate and work with the National Assembly to achieve your grand vision for Nigeria.”

As the red chamber planned to start deliberations on the budget proposals, Akpabio warned heads of the various ministries, departments and agencies of the Federal Government to make themselves available for the budget defence.

He said: “Let me take this opportunity to stress the importance of the honourable ministers and heads of extra-ministerial departments being prepared to respond promptly to requests for them to come and defend their sectoral allocation in the exercise of our legislative oversight.

“We have observed concerning the behaviour from some ministers and heads of extra-ministerial departments, who sometimes neglect their duty to promptly submit to legislative oversight, sometimes even disregarding invitations from relevant committees of the legislature.

“It is imperative they understand that we will not condone such breaches of the constitution going forward.”

Akpabio noted that under the President Bola Tinubu administration, Nigerians has “witnessed remarkable strides in economic reforms, aimed at enhancing our nation’s stability and growth”.

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According to him, “The courageous decision to remove fuel subsidies, though challenging, showcases your (Tinubu’s) unwavering commitment to redirecting resources to critical sectors such as education and healthcare.

“Your collaboration with the Central Bank has cultivated an environment ripe for investment, and your focus on infrastructure development reflects a visionary commitment to improving the connectivity that fuels our economy.

“Furthermore, your initiatives to strengthen our security framework stand as a testament to your resolve in tackling the pressing challenges of our time.“

The chairman of the National Assembly commended Tinubu’s efforts in the era of security.

“We commend your tireless efforts, along with those of our brave men and women in uniform, for liberating our lands from the grip of terror.

“Today, no community is under the threat of terrorism, a monumental achievement we celebrate together.

“The reduction in kidnapping incidents and the neutralization of over 11,000 terrorists and insurgents is a testament to patriotism, strength and determination,” Akpabio said.

The Senate President said Tinubu’s dedication to fostering international relations paves the way for fruitful partnerships that will propel the nation forward.

He said: “We are witnessing a resurgence in foreign direct investment, made possible by your visionary directives that ease the visa processes for Nigerians travelling to other countries, and at the same time welcome investors and tourists alike to our country.

“Your innovative approaches in our embassies and the Ministry of Foreign Affairs have opened new doors for Nigeria and its people. For this we thank you.”

He said the introduction of social welfare programmes embodies the president’s unwavering belief in uplifting the living standards of our citizens.

“You remind us that our nation is not merely constructed of bricks and mortar, but of the resilience and determination of its people.

“Nigerians are taking notice of your remarkable achievements. You have doubled aggregate government revenues to over NGN 18.32 trillion, reduced debt servicing expenditures from 97% to 68%, fulfilled $7.5 billion in foreign exchange obligations, increased oil production to 1.8 million barrels per day, and launched the Compressed Natural Gas initiative.

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“Your administration has processed over N45.6 billion for student payments, signed the National Minimum Wage Law, and raised the national minimum wage to N70,000 a month, all while providing over N570 billion in financial support to the 36 states,” Akpabio said.

He commended the groundbreaking tax reform initiative including the four tax reform bills, namely the Joint Revenue Board of Nigeria (Establishment) Bill, 2024; Nigeria Revenue Service (Establishment) Bill, 2024; Nigeria Tax Administration Bill, 2024; and the Nigeria Tax Bill, 2024.

He said the tax reform bills represented a monumental shift in the country’s fiscal landscape and that its critics haven’t read the proposed legislations.

The Senate President said: “It is disheartening that those who have not taken the time to understand these bills are the loudest critics.

“I urge all Nigerians, especially those in public office, to engage with these vital reforms thoughtfully.

“This initiative marks the first comprehensive tax reform since Nigeria’s independence, presenting a transformative opportunity for rejuvenating small and medium enterprises and enhancing the livelihoods of ordinary Nigerians.

“These reforms will not only improve Nigeria’s revenue profile but also create a more conducive and internationally competitive business environment, transforming our tax system to support sustainable development.”

Akpabio said the infrastructure renaissance has paved the way for many roads, including the coastal road and crucial arteries in the Abuja capital city and other parts of the country.

“These developments are not merely about concrete and asphalt; they represent the lifeblood of our economy, connecting our people and fostering growth,” he added.

He urged Nigerians to bear with the president whose economic reforms had imposed hardship on Nigerians but noted that: “We are light-years away from where we began, though some rivers remain to be crossed.

“The pains we feel are not merely the pains of hardship; they are the pains of childbirth. When that season arrives in Nigeria, when this administration births that season, we will rejoice for the struggles endured.

“For now, I ask for your patience and urge all Nigerians to cooperate with the president and maintain faith in his vision.

“Mr. President, while you cannot be everywhere, you have eyes everywhere. We, the distinguished senators and honourable members of the House of Representatives, are your eyes in our constituencies and every corner of Nigeria.

“When our constituents struggle to afford rice, they come to us. When their shoes pinch, they seek our assistance. When the economic alarm sounds, they turn to us.

“Therefore, we are committed to ensuring that you touch the hearts and pulse of Nigerians through these appropriation bills resonating with the sounds of hope and signalling the dawn of Nigeria’s economic rebirth,” he added.

Akpabio ended his speech by leading the members of the National Assembly to sing for the president as they all chorused, “On your mandate we shall stand” to the admiration of the legislatures and the guests.