BREAKING: FG Extends N25,000 Increment To All Workers

All cadres of workers in the Federal Civil Service will benefit from the N25,000 wage increment for six months President Bola Tinubu announced in his Independence Day broadcast.

In his speech, Tinubu had said the increment for low-grade federal workers as intervention to cushion the effect of subsidy removal.

But at a meeting between the Federal Government and Labour Unions in Aso Rock on Sunday evening, an agreement was reached that all workers should benefit from the increment.

Full details of FG, Labour meeting on Sunday

THE outcome of the meeting between Federal Government and labour leaders on Sunday may avert nationwide strike, it was learnt.

Part of the outcome shows that the government will commence payment of N75,000 to 15 million households at N25,000 per month,  from October to December 2023.

It was also agreed that VAT on diesel would be waived for the next six months, Newstrends learnt.

The details are contained in a press statement by Minister of Information and National Orientation Mohammed Idris.

The details of the deliberation between the government and Nigeria Labour Congress and Trade Union Congress were made available on Sunday night.

The full statement is as follows:

The Federal Government, on Sunday, October 1, 2023 met with the leadership of the Nigeria Labour Congress (NLC) and Trade Unions Congress (TUC) on measures to address the dispute arising from the removal of subsidy on Premium Motor Spirit (PMS).

The parties noted the following:

i) The Federal Government has announced N25,000 only as provisional wage increment for all treasury-paid Federal Government workers for six months.

ii) The Federal Government is committed to fast-tracking the provision of Compressed Natural Gas (CNG) buses to ease public transportation difficulties associated with the removal of PMS subsidy.

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iii) The Federal Government commits to the provision of funds for micro and small-scale enterprises.

iv) VAT on diesel will be waived for the next 6 months.

v) The Federal Government will commence payment of N75,000 to 15 million households at N25,000 per month, for a three-month period  from October-December 2023.

RESOLUTIONS:

In the light of the discussions held during the meeting, the following resolutions were reached:

i) The issues in dispute can only be resolved when workers are at work and not when they are on strike.

ii) Labour unions argued for higher wage award and the Federal Government Team promised to present Labour’s request to President Bola Tinubu for further consideration.

iii) A sub-committee to be constituted to work out the details of implementation of all items for consideration regarding government interventions to cushion the effect of fuel subsidy removal.

iv) The lingering matter of Road Transport Employees Association of Nigeria (RTEAN)  and National Union of Road Transport Workers (NURTW) in Lagos State needs to be addressed urgently and Lagos State Governor, Babajide Sanwo-Olu, who participated virtually, pledged to resolve the matter.

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v.) NLC and TUC will consider the offers by the Federal Government with a view to suspending the planned strike to allow for further consultations on the implementation of the resolutions above.

Governor Abdulrazak Abdulrahman of Kwara State and Chairman of the Nigeria Governors Forum (NGF) and Governor Dapo Abiodun of Ogun State, participated virtually in the meeting, chaired by the Chief of Staff to the President, Femi Gbajabiamila.

Also in attendance were the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, the Minister of Information and National Orientation, Mohammed Idris, the Minister of Labour and Employment, Simon Lalong, the Minister of State, Labour, Nkeiruka Onyejeocha, the Minister of Budget and Economic Planning, Abubakar  Atiku Bagudu, the Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, the Minister of Industry, Trade and Investment, Doris Uzoka-Anite, the Head of Service of the Federation, Dr. Folasade Yemi-Esan and the National Security Adviser (NSA), Mallam Nuhu Ribadu.

The labour delegation was led by NLC President, Joe Ajaero, Dr Tommy Etim Okon, Deputy President, TUC,  NLC General Secretary, Emma Ugboaja, TUC General Secretary, Nuhu Toro, among others.

Full details of FG, Labour meeting on Sunday

BREAKING : BUA group announces immediate reduction of cement price to N3,500/bag

One of the major companies in Nigeria, BUA Group , has announced a reduction of ex-factory cement price to N3,500 per bag.

The company, which made this known in a statement on Sunday, said the reduction will take effect from 2 October, 2023.

The statement titled : ‘BUA Cement reduces ex-factory cement prices to N3,500/bag effective October 2, 2023’, reads in full : “We refer to our previous pronouncements regarding our intent to reduce cement prices upon the completion of our new lines at the end of the year, in order to spur development in the building materials and infrastructure sectors.

As per the commitment made to reduce prices and following a periodic review of our operations for efficiency, the management of BUA Cement Plc wishes to announce and inform our esteemed customers, stakeholders, and the public that effective October 2, 2023, we have decided to bring the price reduction forward. As a result, BUA Cement would now be sold at an ex-factory* price of 3,500 Naira per bag so that Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants.

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Upon completion of the ongoing construction of our new plants, which would increase our production volumes to 17million metric tonnes per annum, BUA Cement PLC intends to review these prices further in line with our earlier pronouncements by the first quarter of 2024.

NOTE: all pending, undelivered orders which had been paid for at the old prices will be reviewed downwards to N3500/bag in line with the new pricing from October 2, 2023. Our licensed dealers are also enjoined to ensure that end-users benefit from this reduction in ex-factory prices as we will monitor field sales to ensure compliance.”

BREAKING : BUA group announces immediate reduction of cement price to N3,500/bag