Business
Workers protest against minimum wage bill, tackle APC govs
Thousands of workers under the aegis of the Nigeria Labour Congress on Wednesday stormed the National Assembly in Abuja to protest against a bill seeking to move the national minimum wage from the exclusive legislative list to the concurrent list.
The protesters chanting solidarity songs and carrying placards with various inscriptions arrived at the National Assembly at 11am.
They had marched the Unity Fountain in Maitama with their banners and loud music to the National Assembly.
They disrupted vehicular traffic as most lawmakers, staff and visitors were forced to make a detour into the National Assembly complex through the Villa and the Secretary to the Government of the Federation (SGF) gates.
Several commuters and motorists around Ahmadu Bello Way, Shehu Shagari Way and the Federal Secretariat had a hectic time assessing their destinations during the protest.
The Deputy Chief Whip of the Senate, Senator Aliyu Sabi Abdullahi, met the protesters at the MOPOL gate of the National Assembly and joined them in marching into the main complex.
The protesters were officially received at the forecourt of the National Assembly by the Senate President Ahmad Lawan represented by Senator Sabi Abdullahi and the Speaker of the House of Representatives Femi Gbajabiamila represented by the Leader of the House, Alhassan Ado Doguwa.
The bill which was sponsored by Garba Datti, lawmaker representing Sabon Gari federal constituency, has passed first and second reading in the House of Representatives.
The bill seeks to decentralise the payment of minimum wage to workers in the country to allow states to pay according to their financial capacity.
NLC President, Ayuba Wabba, who expressed labour’s opposition to the bill, said workers would not allow “hard fought rights which are global standards to be bastardised by opportunistic and narrow minded politicians.”
Meanwhile, the organised labour in Ekiti State has accused All Progressive Congress (APC) governors of sponsoring the bill seeking removal of the national minimum wage from the exclusive legislative list to the concurrent list.
The labour alleged that some governors’ within the ruling APC branded as ‘enemies of workers’ contracted Hon. Garba Muhammed, representing Sabon Gari federal constituency, Kaduna State, to initiate the wage re-classification bill.
The union leaders made the allegations while protesting against the plans by the House of Representatives to alter the present wage structure, which gave the Federal Government the exclusive power to negotiate minimum wage for workers in the country.
Participating in the demonstration were members of the Trade Union Congress (TUC) Nigerian Labour Congress (NLC), Joint Negotiation Committe (JNC) and other affiliated unions.
The labour leaders converged at the popular Fajuyi park in Ado-Ekiti, the state capital around 8:45am and took off for the protest at about 10:15am.
Addressing the Speaker, Funmiyi Afuye, the TUC chairman, Sola Adigun, condemned differential minimum wage bill, describing it as obnoxious legislation laced with evil intents targeted at the Nigerian workers.
“It’s saddening and disheartening that one Hon. Garba Datti which we all know are sponsored by governors of the APC, the enemies of workers, said minimum wage should be removed from the exclusive list to the concurrent list.
Railway
Lagos Rail Mass Transit part of FG free train ride – NRC
Lagos Rail Mass Transit part of FG free train ride – NRC
The Nigerian Railway Corporation (NRC) has disclosed that the Lagos Rail Mass Transit (LRMT) trains are included in the Federal Government’s free train ride initiative for the Christmas and New Year celebrations.
The LRMT, which currently includes the Phase 1 Blue Line Rail and the Phase 1 of the Red Line Rail, operates under the Lagos Metropolitan Area Transport Authority (LAMATA).
This announcement was made by Ben Iloanusi, the Acting Managing Director of the NRC, during an interview on NTA News TV on Friday, following the launch of the initiative earlier that day.
While Iloanusi stated that Phase 1 of both the Blue Line and Red Line Rail projects are part of the program, LAMATA has yet to confirm this inclusion.
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Iloanusi outlined the other routes benefiting from the scheme, which include the Lagos-Ibadan Train Service, Kaduna-Abuja Train Service, Warri-Itakpe Train Service, Port Harcourt-Aba Train Service, and the Bola Ahmed Tinubu Mass Transit in Lagos. Notably, little was previously known about the Bola Ahmed Tinubu Mass Transit service until this disclosure.
“Let me mention the routes where this free train service is happening. We have the Lagos-Ibadan Train Service, we have the Kaduna-Abuja Train Service, we have the Warri-Itakpe Train Service, we have the Lagos Rail Mass Transit trains, we have the Port Harcourt-Aba Train Service, and we have what we call the Bola Ahmed Tinubu Mass Transit, which is also in Lagos,” he stated.
Iloanusi provided operational updates, stating that passengers nationwide can access free tickets online or, for those unable to do so, at train stations where they will be profiled and validated.
He noted that passengers using NRC-managed services (excluding the Lagos Rail Mass Transit) should reserve tickets via the official website, www.nrc.gov.ng, with a valid ID required. He also advised travelers to plan, arrive on time, and bring valid identification.
Lagos Rail Mass Transit part of FG free train ride – NRC
Business
NNPC denies claim of Port Harcourt refinery shutdown
NNPC denies claim of Port Harcourt refinery shutdown
The Nigerian National Petroleum Company Limited (NNPCL) has denied claims in media reports that the newly refurbished Port Harcourt refinery has shut down.
The national oil company denied the claim in a press release issued by its Chief Corporate Communications Officer, Olufemi Soneye, on Saturday.
Soneye said the claim was false and urged Nigerians to disregard it. He stressed that the Port-Harcourt Refinery is fully operational.
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The statement read, “The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd.) has been drawn to reports in a section of the media alleging that the Old Port Harcourt Refinery which was re-streamed two months ago has been shut down.
“We wish to clarify that such reports are totally false as the refinery is fully operational as verified a few days ago by former Group Managing Directors of NNPC.”
He noted that preparation for the day’s loading operation is currently ongoing, and added that claims of the shutdown are “figments of the imagination of those who want to create artificial scarcity and rip-off Nigerians.”
NNPC denies claim of Port Harcourt refinery shutdown
Business
CBN permits BDCs to buy up to $25,000 FX weekly from NFEM
CBN permits BDCs to buy up to $25,000 FX weekly from NFEM
The Central Bank of Nigeria (CBN) has granted Bureau de Change (BDC) operators temporary permission to purchase up to $25,000 weekly in foreign exchange (FX) from the Nigerian Foreign Exchange Market (NFEM).
The Central Bank of Nigeria (CBN) has granted Bureau de Change (BDC) operators temporary permission to purchase up to $25,000 weekly in foreign exchange (FX) from the Nigerian Foreign Exchange Market (NFEM).
This move, detailed in a circular dated December 19, 2024, is designed to meet seasonal retail demand for FX during the holiday period.
The circular was signed by T.G. Allu, on behalf of the Acting Director of the Trade and Exchange Department.
The arrangement will be in effect from December 19, 2024, to January 30, 2025.
Under the directive, BDCs may purchase FX from a single Authorized Dealer of their choice, provided they fully fund their accounts before accessing the market.
Transactions to occur at the prevailing NFEM rate
The transactions will occur at the prevailing NFEM rate, and BDCs are required to adhere to a maximum 1% spread when pricing FX for retail end-users.
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All transactions conducted under this scheme must be reported to the CBN’s Trade and Exchange Department.
The circular read in part:
“In order to meet expected seasonal demand for foreign exchange, the CBN is allowing a temporary access for all existing BDCs to the NFEM for the purchase of FX from Authorised Dealers, subject to a weekly cap of USD 25,000.00 (Twenty-five thousand dollars only).
This window will be open between December 19, 2024 to January 30, 2025.
“BDC operators can purchase FX under this arrangement from only one Authorized Dealer of their choice and will be required to fully fund their account before accessing the market at the prevailing NFEM rate. All transactions with BDCs should be reported to the Trade and Exchange department, and a maximum spread of 1% is allowed on the pricing offered by BDCs to retail end-users.”
The CBN assured the general public that PTA (Personal Travel Allowance) and BTA (Business Travel Allowance) remain available through banks for legitimate travel and business needs.”
These transactions are to be conducted at “market-determined exchange rates” within the NFEM framework.
This initiative reflects the CBN’s strategy to stabilize the FX market and manage seasonal surges in demand.
CBN permits BDCs to buy up to $25,000 FX weekly from NFEM
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