Connect with us


Buhari: FG to Begin Payment of New Minimum Wage Soon



  • Buhari: FG to Begin Payment of New Minimum Wage Soon

President Muhammadu Buhari has assured public servants that the implementation of the new national minimum wage would commence soon.

He also advised state governments and employers in the private sector to work towards providing a living wage for their workers

President Buhari who was represented by the Secretary to the Government of the Federation, Boss Mustapha at the 11th triennial delegates’ conference of the Trade

Union Congress of Nigeria (TUC), said as a result of several reforms embarked upon by the government, the Nigerian economy is expected to grow by 2.7 per cent in 2019.

He asked state government and the private sector to implement the minimum wage as a way of encouraging workers to contribute to the development of the country, adding that his government will continue to pay particular attention to the welfare of workers.

While expressing concern over the level of insecurity in the country, the president said that the government was working hard to defeat all forms of insecurity in the country, including terrorism, kidnapping as well as farmers/herders clashes.

Buhari, who added that the security challenges in the country is not insurmountable, also assured that his government remains committed to making Nigeria a better place.

He further disclosed that the government was “mapping out policy measures and laws that will help to maintain our unity and at the same time lift the bulk of our people out of poverty and on the road to prosperity.

“The security challenges we are currently facing are not unsurmountable. I can report that we are meeting these challenges with much greater support to the security forces in terms of funding equipment and improved local intelligence.

“We are meeting these challenges with superior strategy, firepower and resolve. I can assure you that we will win the war against terrorism, kidnapping, banditry and farmers-headers clashes,” he said.

He noted that since he took over the mantle of leadership in the country, he has been working to build a solid foundation for the country

“These efforts have begun to yield results. The economy is making a steady progress and our GDP is expected to grow by 2.7 per cent the year. Our external reserves have risen to $45 billion and can finance a number of our foreign commitments.

“With the steps taken to integrate rural economies to the national grid, provide credits and inputs to rural farmers and micro-businesses as well as providing the enabling environment for business in Nigeria, our people will be liberated from the shackles of poverty. We will try to create 10 million jobs yearly to continue to boost our economy and make life better for our people.

“Our government will continue to improve on our New Development Plans and initiatives. We will concentrate on agriculture, education, power and other infrastructure, manufacturing and social intervention schemes. We will promote good governance and fight corruption to a standstill.

“This government will continue to build institutions and machineries to fight corruption. If we don’t kill corruption now, we will not have a country to handover to our unborn generation. Hence the need for everyone to be involved in this fight to finish,” he said.

Buhari assured that the executive arm of government was committed to having a smooth and good working relationship with the labour unions in Nigeria.

Meanwhile, the President of the TUC, Comrade Bobboi Bala Kaigama, has lamented that the situation in Nigeria has degenerated to the level of anarchy and absurdity as hardly a day passes without new killings through assassination, kidnapping, and suicide bombing.

He said the Nigerian economy was in dire straits, regretting that those who have the responsibility to manage it are not showing promising signs that they know how to fix it.

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


FG Launches New N25bn Youth Fund to Address Some of the Concerns Raised by #EndSARS Protesters



Zainab Ahmed

FG Introduces N25 Billion Youth Fund

The Federal Government has introduced a new N25 billion youth fund to address some of the issues raised by the Nigerian youths who took to the street to demand good governance, among others.

The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, disclosed this at a stakeholder meeting held with the Deputy Governor of Kaduna State, Dr. Hadiza Balarabe, in Kaduna.

Ahmed said the fund would be increased from N25 billion to N75 billion within three years to ensure new job creation for the youths.

The meeting was constituted as part of the directive of President Muhammadu Buhari to ministers and governors to dialogue with stakeholders on some of the concerns raised by #EndSARS protesters.

The finance minister said the aim was to support the Nigerian youths to actualise their innovative and entrepreneurial minds in business and general development of the nation.

On her part, Balarabe said the essence of the meeting was to brainstorm on how to tackle security challenges faced during the #EndSARS protests.

Dr Mohammad Abubakar, the Minister of Environment, who was also at the meeting, reiterated Federal Government’s commitment to people-friendly policies and reforms.

Continue Reading


Kwara to Support Looted Businesses With N500 Million



Kwara State to Fund Looted Businesses With N500 Million

Kwara State has joined the list of states supporting businesses that were looted and vandalised by hoodlums masquerading as #EndSARS protesters.

Mr. AbdulRahman AbdulRazaq, the Governor of Kwara State, during a visit to the Kwara Mall and Agro Mall on Saturday said the state will support affected businesses with N500 million, adding that the funding is to reduce the negative impact of the looting on the state economy.

On Sunday, in a statement issued by the governor’s Chief Press Secretary, Rafiu Ajakaye, the Governor said the vandalism and looting may bring several businesses to their knees and lead to massive job loss with an increase in poverty rate.

He said, in order to avoid this, “We are setting up a N500 million fund for those that were affected to access.”

“The application form is live and active on the state government’s website and can now be filled by interested parties. We are going to get them back as soon as possible,” he assured.

The governor, who described the situation as a mindless looting of people’s businesses, said there can be no justification for such criminal behavour in our society and commiserated with affected owners.

Speaking on accusation of hoarding of palliatives, the Governor said the palliatives were donated by Private sector led CACOVID to specific vulnerable households and were being distributed gradually across the state.

What happened was bareface stealing and some people are playing politics with it. This is not the time to play politics. It is a time for all hands to be on deck. It is not just Kwara they wanted to burn down. They wanted to burn the whole country down. I urge all of us to stand up and resist that,” he said.

“We engaged the #EndSARS youth in Kwara and it worked out for us. They were not violent. They had a five-point agenda which the federal government has agreed to and has started implementing. In Kwara State, we have also set up a judicial panel of inquiry to look into the allegation of Police abuse. I also visited Police barracks to see how we can improve the welfare of the Police in the state.

“While the hoodlums were looting (on Friday), I was holding a meeting with executives and members of the National Association of Kwara State Students and National Association of Nigeria Students, Kwara axis. It shows students and youths were not part of the looting. Those involved were just hoodlums and thieves,” he said.

Continue Reading


IMF to Review Nigeria’s Growth Forecast Amid Destruction of Businesses, Properties




IMF Says it May Review Nigeria’s Growth  Amid Recent Development in the Country

Following the destruction of businesses and properties that trailed the #EndSARS protest, the International Monetary Fund (IMF) has said it may review the nation’s growth forecast in view of the new development in the country.

Abebe Selassie, the Director, African Department, International Monetary Fund, made the statement while responding to questions during a virtual IMF press conference on the economic outlook of Sub-Saharan Africa on Thursday.

According to him, the protest is difficult given that Lagos is a very important economic hub and contributes to the overall Nigeria activities.

Selassie said, “On the growth projections in Nigeria, I mean, these protests happened of course, after we had closed, after the period where the data we looked at in making the growth projections for this economic outlook.

“And much will depend really on how these protests evolve.

“Lagos of course, is a very important economic hub and contributes quite a bit of economic activity to overall Nigeria activities.

“So, if these persist and are showing significant effects on economic data, we will internalise them in due course.”

He further explained that the nation’s economy had been a difficult one in the last four years ever since oil prices plunged in 2015-16.

He said, “I think this is exactly why we have been on the record in Nigeria about how really critical it is to get all of the policy induced barriers out of the way to facilitate stronger economic growth.

“For the government to do more to raise revenues through the area of non-oil resources to be able to invest in health education which would, you know, allow people to be more successful at getting jobs but also improve the economy’s potential.

“So, I think that development agenda that Nigeria has, I think, has to be tackled with gusto and vigor so that the millions of jobs that the country needs can be created.”

Continue Reading