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Obasanjo says crude oil Nigeria’s source of misfortune
Obasanjo says crude oil Nigeria’s source of misfortune
Former president Olusegun Obasanjo says the discovery of crude oil in Nigeria torpedoed the growth of the country.
He said crude oil has brought nothing but misfortune to Nigeria, adding that its discovery led to the neglect of the agricultural sector which used to be the mainstay of Nigeria’s economy.
Obasanjo made this known while fielding questions in Lagos at the Africa Methodist Council Heads of Conference Summit and Women’s Movement Leadership Summit, on Sunday
He said, “One of the things that was a little bit of misfortune in Nigeria is crude oil. We were drinking and sleeping oil, and it was a misfortune for us. It made us to abandon agriculture. Oil is a waste asset. Agriculture is renewable. We have to go back to it.”
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He stressed the need to empower and provide employment for the increasingly restive youth.
“We have to give something to our youths who are becoming restive, frustrated and dangerous.
“If we are going to curb that, it is giving them education, skills, empowerment and employment. If we don’t, they will soon come to attack us in our homes in the daytime, and it is a matter of time.
“Even food, we don’t produce enough. We spend over $20bn to import food. 60 per cent of arable land is not cultivated. The one cultivated is not used to maximum capacity. We need leaders who will lead us to the promised land.”
Obasanjo says crude oil Nigeria’s source of misfortune
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News
Reps Move to Extend Dormant SIM Reallocation Period to 18 Months
Reps Move to Extend Dormant SIM Reallocation Period to 18 Months
The House of Representatives has called on the Nigerian Communications Commission (NCC) to extend the dormancy period for inactive phone numbers before they are reassigned to new users from the current timeline to 18 months.
This is in a bid to strengthen data protection, reduce SIM card fraud, and prevent identity theft linked to recycled mobile numbers.
The resolution was passed during Tuesday’s plenary following a motion sponsored by Billy Osawaru, who represents the Orhionmwon/Uhunmwode Federal Constituency of Edo State.
Lawmakers argued that extending the validity period of inactive numbers would improve compliance with the Nigeria Data Protection Act, 2023, and reduce the risks associated with recycled SIM cards linked to BVN and NIN records.
As part of the proposal, telecom operators would also be required to introduce additional safeguards, including a six-month buffer period within the 18-month framework. During this period, operators would publicly announce phone numbers scheduled for reassignment in national newspapers, notify security agencies periodically to track potential misuse, and improve monitoring of inactive numbers connected to sensitive identity data.
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Osawaru warned that the current SIM recycling system has exposed many Nigerians to fraud, harassment, and reputational damage, especially where reassigned numbers were previously used for criminal activities. He explained that under existing NCC telecom identity management guidelines, inactive SIM cards may be deactivated and later reassigned after a period of dormancy, a process operators say is necessary for operational sustainability.
However, lawmakers expressed concern that the practice has created loopholes that allow criminals to exploit recycled numbers, leading to cases of financial fraud, impersonation, and identity misuse. According to Osawaru, many victims have suffered embarrassment and extortion after unknowingly inheriting numbers previously linked to illegal activities.
The House further noted that recycled numbers often remain connected to sensitive personal records such as Bank Verification Numbers (BVN) and National Identity Numbers (NIN), increasing the risk of data breaches and digital identity compromise. Lawmakers stressed that strengthening SIM recycling regulations aligns with the objectives of the Nigeria Data Protection Act, 2023, which aims to safeguard citizens’ personal data in an increasingly digital financial ecosystem.
Currently, telecom operators are allowed to deactivate and recycle inactive numbers after a defined period of inactivity under NCC rules, following staged deactivation and cooling processes. Lawmakers, however, argue that the existing timeline is insufficient to fully protect users whose numbers may still be tied to financial services, social media accounts, and government identity systems.
Following unanimous adoption of the motion, the House mandated its committees on communications and commerce to engage the NCC, the Nigeria Data Protection Commission (NDPC), and other relevant stakeholders. The committees are expected to submit a report within four weeks, which may shape possible legislative reforms to Nigeria’s SIM card recycling policy and telecom identity security framework. If implemented, the proposal could significantly extend the protection window for mobile subscribers and reshape how inactive phone numbers are managed across Nigeria’s telecom sector.
Reps Move to Extend Dormant SIM Reallocation Period to 18 Months
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News
NLC Warns Inflation Has Destroyed Value of Workers’ Earnings
NLC Warns Inflation Has Destroyed Value of Workers’ Earnings
The Nigeria Labour Congress (NLC) has warned that a monthly salary of ₦1 million offers little real value to Nigerian workers without a stable naira and broader economic reforms to curb inflation and rising living costs.
NLC President Joe Ajaero made the remark in an interview with the News Agency of Nigeria (NAN) in Abuja, stressing that the real issue for organised labour is not nominal wage increases but the purchasing power of income. He explained that persistent inflation and currency instability have significantly reduced the ability of workers to afford basic necessities such as food, transportation, housing, and healthcare. “Even if Nigerian workers earn ₦1 million, it will not be meaningful if the naira has no value,” Ajaero said, adding that what workers need is a currency strong enough to sustain them through the month.
Ajaero also clarified that discussions around a new national minimum wage cannot be rushed or influenced by political timelines, insisting that the process is governed by law and follows a fixed review cycle. According to him, negotiations have not yet officially begun, and the NLC will only engage when the current wage structure is due for renewal. He rejected suggestions that wage talks should be tied to election periods, stressing that the integrity of the process must be protected.
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The NLC president raised concerns over the worsening economic situation, noting that inflation and fuel price increases have intensified hardship for Nigerian workers. He said the removal of fuel subsidies and global economic shocks have significantly raised transportation and food costs, further reducing real incomes. “We raised concerns when global developments began to impact fuel prices locally, and the burden on workers continues to increase,” he said. Ajaero called for urgent government action to stabilise the economy and reduce the impact of external shocks, urging the development of a more resilient energy and economic policy that shields citizens from external volatility.
On pension administration, Ajaero expressed concern over growing confusion caused by the emergence of multiple pension unions and stakeholder groups. He said the NLC has begun consultations with relevant parties to streamline coordination and ensure clarity in pension operations, including deductions and remittance processes. “There are several pension groups now, and this is creating ambiguity. We are engaging them to find a common ground,” he said.
Ahead of Workers’ Day, Ajaero said any planned protests would not be nationwide but limited to states that have failed to fully implement the approved minimum wage structure. He noted that while most states have complied, some are yet to fully implement adjustments, particularly at local government and education levels. He added that issues such as consequential salary adjustments remain unresolved in some states, where workers are being paid the minimum wage without proper restructuring of salary scales. “These are technical issues that must be addressed. We will evaluate the level of compliance before May Day,” he said.
Reiterating the NLC’s position, Ajaero stressed the need for policies that protect Nigerian workers from global economic volatility, insisting that wages alone cannot resolve structural economic challenges. He also acknowledged recent government actions such as the review of peculiar allowances and the approval of 100% duty tour allowance for civil servants, urging full implementation to ensure workers benefit effectively.
NLC Warns Inflation Has Destroyed Value of Workers’ Earnings
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Akpabio Declares Jimoh Ibrahim’s Senate Seat Vacant
Akpabio Declares Jimoh Ibrahim’s Senate Seat Vacant
The President of the Senate, Godswill Akpabio, has officially declared the Ondo South Senatorial seat vacant following the appointment of Senator Jimoh Ibrahim as Nigeria’s Permanent Representative to the United Nations.
Akpabio made the announcement on Tuesday during plenary at the National Assembly in Abuja, informing lawmakers that Ibrahim’s new diplomatic assignment automatically brings an end to his tenure in the Senate in line with constitutional provisions.
According to the Senate President, the declaration became necessary after the upper legislative chamber received formal communication regarding Ibrahim’s appointment to the international diplomatic position.
Akpabio explained that under the Nigerian Constitution, a serving lawmaker cannot simultaneously occupy a legislative seat and hold an executive or diplomatic appointment under the Federal Government.
“The Senate has no option than to declare the seat vacant following the appointment of Senator Jimoh Ibrahim as Nigeria’s Permanent Representative to the United Nations,” Akpabio reportedly told lawmakers during proceedings.
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He subsequently directed the Clerk to the National Assembly to officially communicate the Senate’s resolution to the Independent National Electoral Commission (INEC) to begin the process of conducting a bye-election for the Ondo South Senatorial District.
The Senate President further urged INEC to act swiftly in line with constitutional and electoral provisions to ensure that the people of Ondo South do not remain without representation in the Senate for an extended period.
Under Nigeria’s Electoral Act and constitutional guidelines, INEC is required to conduct a bye-election after receiving official notification of a legislative vacancy from the National Assembly.
Jimoh Ibrahim, a businessman, lawyer, and politician elected under the platform of the All Progressives Congress (APC), represented Ondo South Senatorial District in the 10th Senate before his appointment.
His nomination as Nigeria’s Permanent Representative to the United Nations is being viewed as a major diplomatic and political elevation within the Tinubu administration.
Political analysts say Ibrahim’s exit from the Senate is expected to trigger intense political activity within Ondo State, especially among APC stakeholders and opposition parties preparing for the anticipated bye-election.
The development is also likely to reshape political alignments in Ondo South, one of the state’s key senatorial districts ahead of the 2027 general elections.
Sources within the National Assembly indicated that consultations among political leaders and aspirants have already begun following the official declaration of the vacancy.
The expected bye-election could become a significant political test for both the APC and opposition parties seeking to strengthen their influence in Ondo State.
Akpabio Declares Jimoh Ibrahim’s Senate Seat Vacant
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