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Labour Stages Nationwide Protest Over Electricity Tariff

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The organised labour on Monday paralysed business activities of the electricity distribution firms as it led a nationwide protest against the over 45 per cent increase in electricity tariffs, demanding an immediate reversal of the hike.

Leaders and members of the Nigeria Labour Congress and Trade Union Congress were joined in the simultaneous demonstrations in different parts of the country by those in the civil societies and students of tertiary institutions.

According to Punch, the protesters stormed the various offices of the power firms nationwide as early as 8am, chasing out some officials of the companies who had resumed for work.

Armed with placards that bore various inscriptions such as ‘No to increase in electricity tariff’ and ‘No meter, no payment’, the protesters said there was no justification for the hike, with the organised labour warning that if the decision was not rescinded, it could be forced to order an indefinite strike.

In Abuja, the NLC and the TUC led the protesters to the offices of the Abuja Electricity Development Company, the Nigerian Electricity Regulatory Commission and the National Assembly.

The President, TUC, Mr. Bala Kaigama, said the labour movement would continue with the protest against the tariff hike until its reversal.

Similarly, the President of the NLC, Mr. Ayuba Wabba, accused the Minister of Power, Mr. Babatunde Fashola, of conniving with the electricity firms to fleece Nigerians.

The protesters insisted that policies of the government, which created room for Nigerians to be subjected to unjustified charges, would be resisted.

Wabba called on President Muhammadu Buhari to revisit the privation of the power sector as it was marred by corruption, lamenting that the current increase would make it the fifth time the tariffs would go up since the privatisation exercise was concluded.

Wabba, who said that the current tariff increase would not be accepted, added that it was the standard practice all over the world for people to only pay for what they consumed.

He said, “We will not allow a situation where a few will collaborate, including our Minister of Power, Works and Housing, Mr. Babatubde Fashola; we are really disappointed because he did not even respond to all the letters we wrote to him.

“This protest is to tell the Discos and Gencos that we will not allow a situation where they will continue to fleece Nigerians.”

Kaigama, who observed that NERC had been ineffective, called on the government to appoint a substantive board for the commission.

The representative of the civil societies, Mr. Jaiye Gasikya, said the observed deficiencies in the sector only showed that the investors were not ready to add any value to what they met on the ground.

He said that the power firms had refused repeated calls by the organised labour and civil societies to publish their financial statements.

In Lagos, the protesters occupied the head office of the Ikeja Electric in Alausa.

Amidst shouts of ole, ole (meaning thief), they demanded the immediate reversal of the new tariffs, which took effect on February 1. They also asked that prepaid meters should be made available to every consumer free of charge before any tariff hike could be implemented.

The Vice President, NLC, Mr. Amechi Asugwuni, argued that there was no consultation with the consumers before announcing the new tariffs.

“This is unacceptable because it did not take into consideration the welfare of Nigerians,” he said.

In Akure, Ondo State, some protesters marched to the office of the Benin Electricity Distribution Company where they chased out its workers and shut the premises before moving to the Airways and Leo areas of the state capital.

The Chairman of the NLC in the state, Mrs. Bosede Daramola, said there had been no significant improvement in the service delivery by the BEDC and that most consumers were not metered in line with the signed Memorandum of Understanding of November 1, 2013, which stipulated that within 18 months, all consumers must be metered.

A member of the Civil Liberty Organisation and Director of Research, Planning and Statistics, Christian Association of Nigeria, Nelson Fadoju, expressed displeasure at the rise in tariffs, which he said came when the times were already hard for the citizens of the country.

In Osogbo, Osun State, the protesting workers invaded the office of the Ibadan Electricity Distribution Company in the city and locked up officials of the company from around 9am until around noon.

In Port Harcourt, Rivers State, the NLC and TUC members, who picketed the head office of the Port Harcourt Electricity Distribution on Moscow Road, decried what they called arbitrary increase in electricity tariffs.

The state TUC Chairman, Mr. Chika Onuegbu, said the people would not sit and watch the government inflict pains on them through the increase in electricity tariffs.

He lamented that the Federal Government failed to save when the price of crude oil was above $140 per barrel and wondered why the masses should be forced to pay for their inaction.

Also, the state Chairman of the NLC, Beatrice Itubo, described the picketing of the PHED head office as a warning to the electricity distribution company.

Reacting, the Corporate Communication Manager, PHED, Mr. Jonah Iboma, said the power sector had been neglected over the past 50 years, expressing the need for more investment in the sector.

He stated that contrary to the claim that the recent increase in electricity tariffs was up to 45 per cent, the hike was between 12 per cent and 21 per cent.

Members of the labour groups in Ekiti State also shut the office of the Benin Electricity Distribution Company in Ado-Ekiti.

The workers were led by the state Chairman of the TUC, Odunayo Adesoye, and his counterpart in the NLC, Ade Adesanmi.

They rebuffed entreaties by men and officers of the Nigerian Security and Civil Defence Corps not to enter the building.

Other groups that joined in the protest included the Non-Academic Staff Union of the Federal Polytechnic, Ado-Ekiti; Ekiti State Public Service Joint Negotiating Council, the Academic Staff Union of Secondary Schools and the Nigerian Civil Service Union.

In Uyo, Akwa Ibom State, the unions said there was no need to increase the tariffs since the state government had been subsidising the cost of electricity consumed by the people.

In Ogun State, the protest was staged by members of the NLC in conjunction with the civil society groups, including the Committee for the Defence of Human Rights and the Electricity Consumers’ Forum in Abeokuta, Sango-Ota and Sagamu.

But NERC urged the labour unions to exercise restraint in the protest against the hike in electricty tariffs.

It said in a statement by its Head of Public Affairs Department, Dr. Usman Arabi, that the existing electricity tariff order was carried out after a wide consultation with different shades of opinion, and in strict compliance with extant rules and judicial pronouncements.

It stated that the Electric Power Sector Reform Act 2005 empowers any party aggrieved or dissatisfied by the decision of the commission to appeal to it within 60 days from the date of the decision, adding that it was still open to further consultation.

Fashola also described the electricity tariff increase as “a painful pill” and appealed to consumers to “swallow” it.

He, however, said the new tariffs were cheaper than using diesel or petrol-fired generators or inverters.

The Senate President, Bukola Saraki, assured the leadership of the organised labour that the National Assembly would act to ensure that the electricity tariff hike was resolved in the interest of the people.

He stated this while addressing a rally jointly organised by the labour unions and electricity consumers at the National Assembly.

Saraki said, “Even before now, we have observed that this issue of tariff increase and some of the policies were not palatable. We have summoned NERC even before now. We are with you, we will stand with you and ensure that no policy will in any way exist that is not palatable to the Nigerian people.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Ibom MRO to Bring in Forex to Nigeria 

Akwa Ibom State to open a cutting-edge smart terminal building at the Victor Attah International Airport

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The governor of Akwa Ibom State, Governor Udom Emmanuel, has announced that the state is close to opening a cutting-edge smart terminal building at the Victor Attah International Airport and that this will generate foreign exchange for Nigeria. 

Investors King has also learnt that an MRO facility for aircraft would be operational from January.

This comes on the heels of praise from his Edo State counterpart, Gov. Godwin Obaseki, who attended the Tuesday reception in Uyo for two additional A320-200 Airbus aircraft that the state’s Ibom Air fleet had leased from a European company.

Speaking at the event, the governor of Akwa Ibom said that while there were already efforts underway to persuade the government to lease the MRO, the MRO is an investment because it was built with naira, despite its current depreciation, and will therefore generate income.

The Akwa Ibom governor said “Our terminal building is world-class in Africa, our MRO is world-class. If you find one today in the entire Gulf of Guinea, tell me I’ll disassemble this one and build another.

“Look at our MRO; what you see here can accommodate two 747 aircraft as well as eight CRJ aircraft, which we are flying for servicing at the same time.”

“This is the only MRO in this part of the world today, and these facilities are not built with local currency, but we are building this MRO with naira that has no value.”

“I invest in areas where we can see a return on our money. Right now without blinking an eye, I can make over $ 30 million with this MRO if we decide to sell but we are not selling, we will make a foreign exchange from this investment.

“Airbus is on us to come and lease our MRO for all their regional flights, but we are not selling.

“We are going to open up this place ( MRO facility) from January next year for commercial activities and we are going to earn in dollars.”

He thanked Ibom Air’s Board of Directors, Management, and Staff for making him proud, emphasising that “they have done very well.”

Gov. Obaseki, who spoke at the event, stated that Akwa Ibom has become the country’s flagship state for its efforts to invest in and make significant strides in the aviation sector.

Obaseki described Akwa Ibom as the country’s flagship state for its efforts to invest in and expand the aviation sector. “Ibom Air is always completely booked.” Let me thank you on behalf of Nigerians,’’ Obaseki said.

In his remarks, the Managing Director of Ibom Airlines., Mr Mfon Udom announced plans to begin regional flights in 2023.

Udom said the new addition to the fleet of Ibom Air would expand its carrying capacity and boost employment opportunities in the state by 40 per cent.

“With this new capacity coming on board, we are delighted to inform our passengers that we have increased our offerings, providing more frequencies for their convenience.

“The Uyo-Lagos and Uyo-Abuja routes now have three frequencies each every weekday, while our Lagos-Abuja passengers will have seven frequencies to choose from both ways, every weekday,’’ he said.

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Lagos State Boosts Food Supply With Mass Sale of Rice and Cooking Oil

LAISA has commenced the massive sale of rice and soya bean vegetable oils ahead of the December festival

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bags of rice

Lagos state government through the Lagos State Agricultural Inputs Supply Authority (LAISA) has commenced the massive sale of rice and soya bean vegetable oils ahead of the December festival.

The sale which is taking place at different locations in the state is already attracting massive buyers. 

According to the General Manager of LAISA, Mr Bolaji Balogun, places where potential buyers can get the products include New Farm Service Oko-Oba Centre, and Gengeto Bus stop, Abeokuta Road, Lagos.

While speaking to the press, Balogun disclosed that available products include 50kg of rice and 1-3 litres of soya vegetable oil all sold at affordable prices. 

The GM added that the food sale event was a response to the yearnings of Lagosians who demanded affordable rice and cooking oil for the yuletide festival. 

He noted that several people came to LAISA stand for the request at the just concluded Lagos Trade Fair. 

Investors King understands that the Lagos State Agricultural Inputs Supply Authority (LAISA) was established with the mandate to boost food supply in the state and also provide the necessary support such as farm tools to farmers. 

” As a responsible agency of government, LAISA will continue to provide customers/farmers with high quality and healthy food supply at affordable prices as and when available. We also intend to continue to support and encourage farmers on the best farming practice as well,” Balogun noted. 

Meanwhile, the Federal Government has replied to a statement credited to the International Monetary Fund (IMF) that Nigeria will face food crisis in 2023.

The Federal Ministry of Agriculture and Rural Development opposed the position of the global financial institution stating that Nigerians should not panic nor worry about the projection. 

The ministry added that several measures had been put in place to forestall any scarcity of food in Nigeria. 

It added that the government had approved a five-year tax break as an incentive to encourage private investments in the agricultural sector and increased food production, processing and marketing.

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U.S 2024 Elections: Donald Trump Declares For President

Former President of the United States, Donald Trump has once again showcased interest to seek the oval office after he failed re-election in 2020.

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President Trump Signs Executive Order In Oval Office Of The White House

Former President of the United States, Donald Trump has once again showcased interest to seek the oval office after he failed re-election in 2020. Trump will be expected to tussle the Republic ticket with other potential nominees. 

At his private beach on Tuesday night, Trump said “In order to make America great and glorious again, I am tonight announcing my candidacy for president of the United States”. 

Trump’s ambition might however not be “Uhuru” as his party, the Republican failed to perform as expected in the midterm election. Although the Republican has been projected to win the majority seats in the house, the party, however, lost the senate including key states. 

In addition, the former US president will likely face stiff opposition from his party as potential co-contestants include his former Vice President Mike Pence and the Governor of Florida Ron DeSantis, who won a resounding reelection victory on November 8.

Unfazed by the opposition and confident in his large following, Trump said “This is not a task for a politician or a conventional candidate. This is a task for a great movement.”

Investors King could recall that in 2020, Donald Trump lost to Joe Biden (Democrat). 

After his exit from office, there have been a number of investigations into his conduct before, during and after his first term as president which could ultimately result in his disqualification.

He is also investigated for inciting violence which led to the drastic attack on the Capitol building on January 6, 2021.

Meanwhile, analysts and observers are divided on Trump’s potential comeback. 

The mid-term election result shows that voters rejected candidates who backed Trump’s baseless claims of election fraud in 2020, and many of his high-profile picks for office struggled or lost out in the race. 

It could be recalled that Donald Trump alleged manipulation in the 2020 presidential election which produced President Joe Biden. Trump claimed he was rigged out and tried to establish a conspiracy to back up his claim.

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