Connect with us

Business

Minimum Wage: We’re Monitoring NASS, Says NLC

Published

on

civil-servants
  • Minimum Wage: We’re Monitoring NASS, Says NLC

The Nigeria Labour Congress has said it is awaiting the transmission of an executive bill on the new minimum wage from the Presidency to the National Assembly.

There has been fear of fresh crisis in the negotiation between the organised labour and the Federal Government on the new minimum wage. The fear followed a disclosure by a source at the NASS that lawmakers would go on another recess on or before the presentation of the bill on January 23, 2019.

The recess, it was gathered, would enable the lawmakers to prepare for elections in the February 2019 elections.

The General Secretary of the Nigeria Labour Congress, Peter Ozo-Eson, told our correspondent in an exclusive interview in Abuja that the union was watching the situation with interest and monitoring the activities of the National Assembly and Federal Government on the new minimum wage.

He said, “All we are concerned with is the agreement we have with the FG (transmission of the bill on or before January 23, 2019.) The matter of election timetable is up to them (FG and NASS). All we are concerned with is the Memorandum of Understanding that we had with the FG which has dates that things should be done. However they get that done within the election timetable is their own business.

“We do not want to keep going back and forth on this matter. We are holding the FG responsible for honouring the MoU which says the executive bill will be at the NASS by January 23, 2019. Once that is done, we will know how to engage the NASS.”

Also speaking with our correspondent on the matter, the NLC’s Head of Information and Public Affairs, Benson Upah, said the new twist about election timetable and NASS recess were unnecessary distractions.

Upah said, “We are monitoring the situation at the NASS and hoping for the best and NASS members’ support to pass the bill. NASS members have in the past made sacrifices to advance the course of labour and democracy in the country. Therefore, we rely on them and will continue to solicit their support and understanding to ensure that this bill does not suffer any setback on account of their absence or otherwise.”

Asked if the NLC was worried that the issue of election timetable was being introduced into the process despite the MoU between the organised labour and the FG, Upah said it was an issue that were not envisaged by parties involved in the discussion in the past two weeks.

“When this process was perfected, we at labour did not envisage that it would drag to this time of the year. But now that it has happened, our prayer remains the support of the NASS members,” he noted.

After the MoU was signed, labour unions said it would take action if the FG failed to honour the bill transmission on the said date. When asked if the threat was still on the table if the FG failed to play its part on account of NASS recess for the elections, Upah said NLC and other unions would review the matter at the appropriate time.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Business

FG Reopens Osubi Airport Warri for Daylight Operations

Published

on

muritala-muhammed-airport

FG Reopens Osubi Airport Warri for Daylight Operations

The Federal Government on Monday said the Osubi Airport in Warri has been reopened for daylight operations.

The Minister of Aviation, Hadi Siriki, disclosed this in a tweet.

The airport was closed in February 2020 over mismanagement and debt allegation involving aviation service providers and airport management.

However, Oberuakpefe Afe, a lawmaker representing Okpe/Sapeie/vaie federal constituency, recently moved a motion for the Federal Government through the ministry of aviation and relevant authorities to reopen the airport for flight operations.

On Monday, Hadi Siriki said “I have just approved the reopening of Osubi Airport Warri, for daylight operations in VFR conditions, subject to all procedures, practices and protocols, including COVID-19, strictly being observed. There will not be need for local approvals henceforth.

Continue Reading

Business

Nigerian Brand, JR Farms Acquires 11% Stake in Rwandan Firm

Published

on

Agric

Nigerian Brand, JR Farms Acquires 11% Stake in Rwandan Firm

JR Firms, an agribusiness firm with headquarters in Nigeria, has announced partnership with Sanit Wing Rwanda through the acquisition of 11 per cent stake in the company.

The CEO of the company, Mr Rotimi Olawale, explained in a statement that the partnership was in furtherance of its goals to ensure food security, create decent jobs and raise the next generation of agrarian leaders in Africa.

The stake was acquired through Green Agribusiness Fund, an initiative of JR Farms designed to invest in youth-led agribusinesses across Africa.

Sanit Wing Rwanda is an agro-processing company that processes avocado oil and cosmetics that are natural, quality, affordable, reliable and viable.

The vision of the company is to become the leading producers of best quality avocado and avocado by-products in Africa by creating value across the avocado value chain.

With focus on bringing together over 20,000 professional Avocado farmers on board and planting of three million avocado trees by 2025 through contract farming, the company currently works with One Acre Fund in supply of avocado to its processing facility.

The products of the company which include avocado oil, skin care (SANTAVO), hair cream and soap are being sold locally and exported to regional market in Kenya.

With the new partnership with JR Farms- the products of the company will enjoy more access to markets focusing on Africa and the European Union by leveraging on partnerships and trade windows available.

Aside funding, the partnership comes with project support in areas of market exposure, capacity building, exposure and other thematic support to grow the business over the next four years.

JR Farms has agribusiness operations in Nigeria, Rwanda, United States and Zambia respectively.

In Nigeria, the company deals in cassava value chain processing cassava to national staple “garri” which is consumed by over 80 million Nigerians on daily basis, while in Rwanda, it works in the coffee value chain with over 4,000 coffee farmers spread across the East Central African country.

Continue Reading

Business

Shut Down Depots Selling Petrol Above Approved Price – Marketers

Published

on

Petrocam

Shut Down Depots Selling Petrol Above Approved Price – Marketers

The Federal Government should close down depots that are selling petrol above the approved price, oil marketers said on Thursday.

National President, Independent Petroleum Marketers Association of Nigeria, Sanusi Fari, said the sale of petrol above government approved price by depot owners would soon lead to a hike in the commodity’s pump price.

Fari told journalists in Abuja that the government through its agencies such as the Department of State Services and the Department of Petroleum Resources should curb the development to avoid crisis in the downstream oil sector.

He said some private depot owners were selling at N165 per litre to independent marketers, way above the government stipulated price of N148 per litre.

Fari said, “Our challenge is the inconsistency in the pricing of petrol. Up till a week ago, government was still insisting that the February price for petrol remained unchanged.

“And most of the private depot owners are selling above the government stipulated price. As at today ( February 25, 2021) private depot owners are selling at N165 per litre to independent marketers.”

He added, “In the last six years, only NNPC imports refined products into this country and these tank farms buy their products from NNPC under a controlled price.

“This has affected our businesses seriously because government is insisting that we sell at the rate of N165, which is not going to work.”

The IPMAN president said filling station owners buy the product at N165 per litre from the private depots and incur other expenses such as transportation, rent, etc.

“So government cannot expect us to sell less than what we buy,” he said.

Fari added, “This is why we are calling on government and agencies that are saddled with the responsibility to control petrol pricing to urgently clamp down on depots that are selling above the stipulated price.”

The Nigerian National Petroleum Corporation, the country’s sole importer of patrol, recently stated that it never hiked the cost of petrol to depots.

It also enjoined the depot owners to sell the product at the approved rate and called on the DPR to enforce the stipulated price across the depots.

Continue Reading

Trending