Business
The Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) have accepted the N70,000 minimum wage offered by the Federal Government, led by President Bola Tinubu. This was announced by NLC President Joe Ajaero after a meeting at the Presidential Villa in Abuja. Ajaero noted that the unions agreed to the offer due to […]
Labour Agrees to N70,000 Minimum Wage Read More »
The Organised Labour in Abia State has suspended its planned seven-day strike, which was scheduled to begin on Monday. The strike was called off after a meeting between Governor Alex Otti and labour leaders, where the government agreed to address the union’s demands. The labour union had threatened to strike over the non-payment of the
Labour Union Suspends Strike in Abia State Read More »
President Bola Tinubu met with labour leaders on Thursday to discuss the minimum wage, but the talks were adjourned until next week to allow for wider consultation with all stakeholders. The labour leaders, led by the Presidents of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), Joe Ajaero and Festus Osifo, respectively,
President Tinubu, Labour Leaders Meet Over Minimum Wage, Talks Adjourned Till Next Week Read More »
Nigeria’s foreign exchange reserves have reached a new high of $34.7 billion, representing an increase of $110 million from the previous day’s figure of $34.5 billion. This growth is attributed to several factors, including the recent increase in oil prices, improved diaspora remittances, and the Central Bank’s efforts to stabilize the currency. The reserves have
Nigeria’s Forex Reserves Hit $34.7 Billion Read More »
The Poultry Association of Nigeria (PAN) has revealed that more than 30% of poultry farms across the country have closed down in the last six months. This alarming trend is attributed to the high cost of operation, which has led to the skyrocketing price of eggs. According to PAN’s National Publicity Secretary, Godwin Egbebe, the
Poultry Industry in Crisis: Over 30% of Farms Shut Down in Six Months Read More »
The Minister of Housing and Urban Development, Ahmed Dangiwa, has expressed optimism that the development of Nigeria’s housing market can unlock the country’s targeted $1 trillion economy. Speaking at the groundbreaking ceremony for the 250-housing unit Renewed Hope Estate in Akwa Ibom, Dangiwa emphasized the sector’s potential for growth. Under the current administration, Nigeria has
Nigeria’s Housing Sector Can Unlock $1 Trillion Economy, Says Minister Read More »
The Nigeria Governors’ Forum (NGF) has assured Nigerians and organized labour that negotiations are ongoing to reach a mutually acceptable solution on the new national minimum wage. This comes after the Federal Executive Council postponed the minimum wage discussion to allow President Bola Tinubu to conduct broader consultations. The governors, who had previously rejected the
Governors Assure Labour of Better Minimum Wage Read More »
The Federal High Court in Lagos has ordered the final forfeiture of $1,426,175.14 linked to the former Governor of the Central Bank of Nigeria, Godwin Emefiele. The court’s decision follows an application by the Economic and Financial Crimes Commission (EFCC) to forfeit the funds to the Federal Government. The EFCC had earlier secured an interim
Former CBN Governor, Godwin Emefiele, Loses $1.4m to Federal Government Read More »
The complaint follows a report by the Debt Management Office, which revealed that Nigeria’s total public debt stock increased by N24.33 trillion in three months, from N97.34 trillion in December 2023 to N121.67 trillion as of March 31, 2024. SERAP is calling on the World Bank to determine the extent to which its operational policies and procedures have been followed in the design, appraisal, and implementation of all bank-financed projects in Nigeria.
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has stated that President Bola Tinubu has not interfered with the Commission’s activities since he assumed office. Olukoyede made this statement during a courtesy visit to the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi. According to Olukoyede, the President has never called
EFCC Chairman: President Tinubu Has Never Interfered with Our Activities Read More »