Business

Aviation union threatens to shut down airports over ASUU strike

Published

2 years ago

July 18, 2022

Comrade Abdulrasaq Saidu

The Association of Nigeria Aviation Professionals (ANAP) has threatened to shut down the airports in solidarity with the strike by the Academic Staff Union of Universities (ASUU).

The development comes as the National Labour Congress (NLC) directed its members to embark on a nationwide protest on July 26 and 27 in solidarity with the strike by the ASUU.

In a statement issued by Abdulrasaq Saidu, general secretary, ANAP, on Monday, the association called on Buhari to end the strike without further delay.

ANAP said the protracted strike has added to social vices in the country as students now engage in unpalatable activities capable of destroying their future.

It said the over four-month strike had ridiculed Nigeria’s educational system and made it a laughing stock.

The union said that “ASUU, NASU, SAUTHRIAI, NAAT had been on strike for more than four months due to the apparent failure of government to sign the re-negotiated 2009 Agreement with ASUU, failure to honour the terms reached at in May 2022 MoU signed with ASUU, and habitual failure of government to respect Collective Bargaining Agreements willingly signed with labour Unions”.

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It said not only the students were suffering but parents and the society, adding that the poor economy has also affected every home in the country.

The association said education remained the bedrock of any country aspiring for greatness, noting that the ASUU strike will eventually lead to a regrettable situation in future if not well-handled.

“Our children are using eight years to read courses of four years with resources being wasted. We cannot continue this way,” the statement reads.

The union said its members would align with the Nigeria Labour Congress (NLC) position in protesting against the unfortunate situation in the tertiary education sector.

In a related development, the National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE) said it would join the Nigeria Labour Congress (NLC) in its solidarity strike over the lingering ASUU strike.

According to NAN, NUBIFIE said this in a statement signed by Anthony Abakpa, its national president and Mohammed Sheikh, general secretary, on Sunday.

“However, if after the one-day protest by NLC on this issue and nothing is done, the union will have no other option than to call out all our members in banks, insurance and other financial institutions in solidarity with ASUU,” it added.

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PH refinery: 200 trucks will load petroleum products daily, says Presidency

Published

5 hours ago

November 26, 2024

Trends Admin

Port Harcourt Refinery

PH refinery: 200 trucks will load petroleum products daily, says Presidency

No fewer than 200 trucks are set to load petroleum products at the government-owned Port Harcourt Refinery, the presidency has said.

A presidential spokesperson, Sunday Dare, made this known in a statement through his official X handle on Tuesday.

Newstrends had reported that the Nigerian National Petroleum Company on Tuesday announced that Port Harcourt Refinery has resumed operations and crude oil processing after years of inactivity.

PH refinery: 200 trucks will load petroleum products daily, says Presidency

Business

Breaking: CBN increases interest rate to 27.50%

Published

6 hours ago

November 26, 2024

Trends Admin

Breaking: CBN increases interest rate to 27.50%

The Central Bank of Nigeria (CBN) has raised the lending interest to 27.50 per cent from 27.25 per cent.

This latest increase in the Monetary Policy Rate came after a meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Monday and concluded Tuesday.

The Monetary Policy Rate measures the benchmark interest rate.

The CBN Governor, Yemi Cardoso, announced this in Abuja on Tuesday after the MPC meeting, last for the year, held at the apex bank’s headquarters.

He said the MPC voted unanimously to raise the MPR by 25 basis points from 27.25% to 27.50%; and retain the Cash Reserve Ratio (CRR) at 50% for Deposit Money Banks and 16% for Merchant Banks.

The CBN governor also said the MPC retained the Liquidity Ratio (LR) at 30% and Asymmetric Corridor at +500/-100 basis points around the MPR.

Business

Nigeria’s unemployment rate dropped to 4.3% in Q2 – NBS

Published

10 hours ago

November 26, 2024

Trends Admin

Nigeria’s unemployment rate dropped to 4.3% in Q2 – NBS

Nigeria’s unemployment rate stood at 4.3 per cent in the second quarter of 2024, the National Bureau of Statistics (NBS) has said in its latest report.

The report released on Monday said the unemployment rate decreased compared to the 5.3 per cent recorded in the Q1 of 2024.

The NBS defined the unemployment rate as the share of the labour force (the combination of unemployed and employed people) who are not employed but actively searching and are available for work.

“The unemployment rate for Q2 2024 was 4.3%, showing an increase of 0.1 percentage point compared to the same period last year,” the report stated.

“The unemployment rate among males was 3.4% and 5.1% among females.

“By place of residence, the unemployment rate was 5.2% in urban areas and 2.8% in rural areas. Youth unemployment rate was 6.5% in Q2 2024, showing a decrease from 8.4% in Q1 2024.”

Report also said the unemployment rate among persons with post-secondary education was 4.8 per cent; 8.5 per cent among those with upper secondary education, 5.8 per cent for those with lower secondary education, and 2.8 per cent among those with primary education in Q2 2024.

Employment rate – 76%

The report showed that the employment-to-population ratio, which measures the number of employed workers against the total working-age population, increased to 76.1 per cent in Q2 2024.

“In Q2 2024, 76.1% of Nigeria’s working-age population was employed, up from 73.1% in Q1 2024,” the report stated.

Self-employment – 85.6%

The report further showed that Nigeria’s labour market saw a notable shift as the proportion of self-employed individuals increased in Q2 2024.

It stated, “The proportion of persons in self-employment in Q2 2024 was 85.6%.”