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Buhari Signs N30,000 Minimum Wage, Workers Hail President

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Buhari on arrival from London
  • Buhari Signs N30,000 Minimum Wage, Workers Hail President

President Muhammadu Buhari on Thursday signed the N30,000 National Minimum Wage Bill into law, ending the anxiety caused by the delay.

The Senior Special Assistant to the President on National Assembly Matters (Senate), Senator Ita Enang, was elated on Thursday as he broke the news to State House correspondents soon after Buhari gave his nod to the bill.

The presidential liaison officer stated that the payment of the N30,000 to workers would begin immediately.

The former senator said, “President Muhammadu Buhari has assented to the Minimum Wage Repeal and Enactment Act 2019.

“This makes it compulsory for all employers of labour in Nigeria to pay to their workers the sum of N30,000. And this excludes persons who are employing less than 25 workers; persons who work in a ship which sails out of jurisdiction and other persons who are in other kinds of regulated employment which are accepted by the Act.

“It also gives the workers the right, if you are compelled by any circumstance to accept a salary that is less than N30,000, to sue your employer to recover the balance and it authorises the minister of labour and any person nominated by the minister of labour, or any person designated by the minister of labour in any ministry, department or agency to on your behalf, take action in your name against such employer to recover the balance of your wages.”

He added, “It also ensures and mandates the National Salaries, Income and Wages Commission and the minister of labour to be the chief and principal enforcers of the provisions of this law. And this law applies to all agencies, persons and bodies throughout the Federal Republic of Nigeria.”

On the effective date of the Act, he said, “The effective date is 18th of April, 2019, as Mr President has assented to it. It has been assented to today and it takes effect today, except such other provisions as are contained in the Act.

“But the enforcement and the right to start the implementation of the provisions commences today (Thursday), including such steps that are to be taken gradually under the provisions of the Act.”

Meanwhile, at the signing of the bill, the President was quoted to have said that he expected Nigerian workers to be more committed to their jobs.

“I expect them (workers) to be more committed to their work at whichever level.

“I will like, with the cooperation of the Nigeria Labour Congress, to look at the economic situation of the country, the population, the poor infrastructure that we are trying to fix in terms of roads, rail and power.

“So, I wish Nigerian workers the best of luck”, he reportedly said in a brief speech.

In its reaction, the organised labour in the country said Nigerian workers appreciated the signing of the new minimum wage bill into law, stressing that labour unions would ensure its compliance by all states.

The President of the Trade Union Congress, Bobboi Kaigama, on a telephone chat with our correspondent, said, “Workers and TUC appreciates President Muhammadu Buhari for signing the Minimum Wage bill into law. It is a welcome development to workers and everyone and we hope that the template will be released soon by the Salaries and Wages Commission so that we can have consequential discussion on the increases.

“All we need now is to call on government to convey the meeting of the Trade Council to discuss the issue of consequential increases so that circulars can be issued to the states for guidance.”

Effort to get the General Secretary of the Nigeria Labour Congress, Peter Ozo-Eson, was not successful as his mobile number was busy.

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.

Economy

Nigeria’s Real Estate Sector Shrinks by 8.06% in the Third Quarter -NBS

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Economic uncertainty plunged Nigeria’s real estate sector by 8.06 percent in the third quarter of the year, according to the National Bureau of Statistics (NBS).

Nigeria’s statistics office said “In nominal terms, real estate services recorded a growth rate of –8.06 per cent in the third quarter of 2020, indicating a decline of –11.78 per cent points compared to the growth rate at the same period in 2019, and by 9.12 per cent points when compared to the preceding quarter.

“Quarter-on-quarter, the sector growth rate was 18.92 per cent.

“Real GDP growth recorded in the sector in Q3 2020 stood at -13.40 per cent, lower than the growth recorded in third quarter of 2019 by –11.09 per cent points, but higher relative to Q2 2020 by 8.59 per cent points.

“Quarter-on-quarter, the sector grew by 17.15 per cent in the third quarter of 2020.

“It contributed 5.58 per cent to real GDP in Q3, 2020, lower than the 6.21 per cent it recorded in the corresponding quarter of 2019.”

Nigeria’s economy contracted by 2.48 percent in the first nine months following a 6.10 percent and 3.62 percent contraction in the second and third quarters respectively.

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Economy

Nigeria Requires N400 Billion Annually to Maintain Federal Roads -Senator Bassey

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The Chairman of the Senate Committee on road maintenance, Senator Gersome Bassey, on Friday said Nigeria requires about N400 billion annually to maintain federal roads across the country.

The Senator, therefore, described the N38 billion budgeted for road repairs in the 2021 proposed Budget as grossly inadequate. According to him, nothing meaningful could be achieved by the Federal Roads Maintenance Agency (FERMA) with such an amount.

He said, “For the 35 kilometres federal roads in the country to be motorable at all times, the sum of N400bn is required on yearly basis for maintenance.”

Bassey “What the committee submitted to the Appropriation Committee in the 2021 fiscal year is the N38bn proposed for it by the executive which cannot cover up to one quarter of the entire length of deplorable roads in the country.

“Unfortunately, despite having the power of appropriation, we cannot as a committee jerk up the sum since we are not in a position to carry out the estimation of work to be done on each of the specific portion of the road.

“Doing that without proposals to that effect from the executive, may lead to project insertion or padding as often alleged in the media.”

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Economy

Scarcity of Day-Old-Chicks Cripple Poultry Farmers in Akwa Ibom

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Despite billions of Naira spent on Akwa Prime Hatchery and Poultry Limited by the Executive Governor of Akwa Ibom State, Udom Emmanuel, poultry farmers in the state said they had to order day-old-chicks from outside the state as the 200,000 capacity poultry farm developed specifically to make day-old-chicks and other poultry products available at affordable prices is almost empty at the moment.

The farmers expressed frustration over many challenges they face in the course of bringing day-old-chicks from outside the state. Usually, Ibadan, Enugu and sometimes as far as Kaduna, while the hatchery built and inaugurated in 2016 remains idle.

Mr Ekot Akpan, one of the poultry farmers who spoke with the pressmen said the state had not had it this bad.

Akpan said: “For the 12 years that I have been in poultry farming, this is the first time that poultry farmers have been so harshly affected by both economic and non-economic factors. And, quite unfortunately, nobody is available to offer any explanation.

“Farmers have been left at the whims and caprice of owners of the means of production.

“There seems to be no government regulation of the poultry industry. How, do you explain a situation where you wake up suddenly and the price of a day old chick is selling for N600, a bag of feed goes as high as N6,000.

“And, in a state that government claims to be pursuing agriculture as one of his cardinal programmes.

“For instance, in 2016, the state government said it has constructed an hatchery, and the intention according the government was to ensure availability of day old chicks at affordable price to farmers, but, quite, unfortunately, that effort has not yielded any tangible result.

“Farmers are still getting their day old chicks from Ibadan, Kaduna, and Enugu. So, the question now is where is the hatchery?

“One would have expected that farmers would be buying old chicks at humane prices, but, from all indications they acclaimed hatchery is a ruse. So, which one is the Akwa Prime Hatchery producing,” he said.

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