Proposed Strike: No division in our ranks-NLC

*Says media reports, a product of mischief The Nigeria Labour Congress (NLC) has refuted reports that it is divided in the group ahead of thier planned nationwide strike on Wednesday. The union had given the federal government till Wednesday to reverse the current hike in fuel price or face mass action to protest the removal of subsidy. In a statement on Sunday, the NLC Head of Information and Public Affairs, Benson Upah, said the lead story by ThisDay Newspaper was laughable and sheer mischief. “The lead story on the front page of ThisDay of Sunday, June 4th, 2023 entitled NLC Divided as North, South-West Chapters May Shun Planned Strike , is a laughable and desperate attempt by enemies of the people to polarise Nigeria Labour Congress along ethnic or regional lines on an issue with a national spread. “Happily, this scenario only plays in their imagination as Nigeria Labour Congress continues to be the biggest pan-Nigerian organisation united by a common vision/mission and shared national values. “On the looming strike action, we want to assure that all the affiliate unions of the Congress stand together with an unshakeable resolve to prosecute, come Wednesday, except the NNPC and Government do the needful. “Whereas, primordial sentiments such as religion, region or ethnicity may be refuge for some, at the Nigeria Labour Congress, they have no place. “What counts for us are issues such as the mindless and criminal increase in the pump price of pms whose burden will be borne by the already impoverished communities of the poor across Nigeria. “The burden of this malevolent policy will not be borne by other segments of the country to the exclusion of the North or South- West. Thus, there is no reason for these regions to back out of the strike. “We do not know from where ThisDay got their story. However, if this is their way of making up for the gaps in their relationship with the new entities in power, we would say, it is rather excessive!” the statement said.

Subsidy Removal: FG, TUC in closed-door meeting 

The representatives of the Federal Government are meeting with the Trade Union Congress  (TUC)  at the State House over the removal of fuel subsidy. This is a follow-up to Wednesday’s meeting with the organized labour which ended in a deadlock. At that meeting, the Nigerian Labour Congress (NLC) demanded that the Federal Government go back to status-quo by reversing the price of fuel before resuming negotiations with the union. In Sunday’s meeting, the federal government’s team is led by the Secretary to the Government of the Federation (SGF), Senator George Akume. Others are the Governor of the Central Bank of Nigeria (CBN), Godwin Emefie; former Governor of Edo State, Comrade Adams Oshiomhole; and the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari. Also in the meeting are the Executive Secretary of the National Sugar Development Council (NSDC), Zacch Adedeji; Executive Vice President, Downstream, of the NNPCL, Yemi Adetunji; former Lagos State Commissioner for Information and Strategy, Mr Dele Alake; Hon James Faleke, among others.

Ray of hope as Gov Inuwa mounts the NSGF saddle

“If you possess the stuff of a champion, you can’t stay too long in the abbys of the minnows”. The above aphorism is a terse formulation of a truth that captures the fate of Gombe State Governor, Muhammadu Inuwa Yahaya, CON, when his colleagues across the northern region unanimously elected him to chair the highly influential Northern States Governors’ Forum (NSGF). Governor Inuwa took over from the immediate past governor of Plateau State, Simon Bako Lalong, with effect from May 29, 2023. The former chairman of the forum had, while handing over to the new chairman, said Governor Inuwa was elected to chair the NSGF in view of his experience, sterling leadership qualities and commitment to good governance. That Inuwa was unanimously accepted to lead the governors from Northern Nigeria under the auspices of the Northern States Governors’ Forum is not fortuitous at all. It was a deliberate consensus of a people who have come to recognise the sterling leadership ambience of the man who shines in tandem with the slogan of his state, Jewel in the Savannah. The Gombe governor has been consistent in terms of performance. He has been outstanding in political dynamism. He has been persistent in the delivery of quality projects that have drawn the binoculars of writers and historiographers to Gombe State across the globe. He has become an epitome of political altruism. He stands shoulder high among political promise keepers, and among nobilities he is a super power. All these attributes cannot be overlooked. The governors from Northern Nigeria are, therefore, not toying with the destiny of this great zone in anyway. They needed a man that is capable of taking the region to the next level of infrastructural advancement.Yes; in Inuwa they found worthy treasures. The Gombe governor has crossed the threshold of history in governance and performance. and he is creditably recording superlative achievements in his State to merit the historic position. Inuwa symbolises tangible hope, palpable progress and capable leadership. With him in the saddle, there is now a new horizon of industrial transmogrification of Northern Nigeria. Under the chairmanship of the Dan Majen Gombe, I see the North shining so brilliantly as the true Northern Star. While taking over the mantle of leadership from Lalong, Governor Inuwa did not mince words when he said, “We will work hard to ensure that we catch up with the rest of the country, possibly with the developed parts of the world so that our people will feel the impact of good governance we all pursue”. He also said that the NSGF will continue to work with past leadership of the forum in order to consolidate on the gains so far recorded to properly place it on the smooth trajectory of social cohesion, economic emancipation and infrastructural development. Governor Inuwa Yahaya expressed delight with the commencement of drilling activities in the Lake Chad Basin which has brought to three drilling sites in the North, including Kolmani in Gombe and Bauchi as well as the one in Nasarawa State. He assured that the forum will see to the actualisation of the exploration of the large oil and gas deposits in the North for the benefit of the people. Inuwa is a born leader who does not joke with his beat at all. He may look unassuming, but he’s a serious minded personality who cannot stand mediority. He has no patience with non-perfomers.You have to be downright hardworking and finicky in your delivery of assignments to earn membership of his team. He thinks on his toes and philosophises upstairs about the best option always and settles for it. If you look at the rapturous applause Inuwa Yahaya has been receiving, with awards for quality output, you cannot but agree with the governors from Northern Nigeria that they have found a worthy leader in the Dan Majen Gombe. Afterall, governance is all about people and what their needs are. Inuwa stands so tall at the roll call of promise-keeping governors in Nigeria. Like a performance generalissimo, Inuwa always has a chart handy where he keeps gazing at the list of promises he made to the electorate. He keeps all and stick to delivery timelines. Talking about development and infrastructure, Inuwa Yahaya has a ready blueprint that any state in Northern Nigeria will gladly love to replicate. When the issue of stopping nomadic herdsmen’s movement across Nigeria came to the national fore, Inuwa Yahaya was the one who went to the presidency and put down Gombe State’s 144,000 hectares Wawa-Zange Grazing Reserve as a panacea for the debacle. His infrastructural pursuit is worthy of emulation. In Inuwa’s Gombe, all the eleven local government areas have at least a hundred kilometers of road network under the Network 11-100 Project. The ease with which people and goods move in Gombe State is quite fascinating. He initiated a 10-year Development Plan for Gombe State, the first in the 26-year history of the state called the Jewel in the Savannah. He itemized the timelines for attainable landmarks and put capable individuals in charge of each task, monitoring them like a farmer monitoring his very first harvest. Go-Health is an initiative that brought quality healthcare to the high and low in Gombe State. Governor Inuwa’s exemplary execution of the COVID-19 programme and subsequent commendations by WHO and UNICEF merited his invitation to the world acclaimed Chartham House to share his Universal Health Coverage with the whole world. Under him Gombe now boasts of three specialist hospitals and 114 functional primary healthcare centers among other healthcare facilities. His education and public service reforms are huge. GOINVEST, the first ever investment summit in Gombe State, has turned the Jewel in the Savannah to investment destination at the moment. Both local and international development partners and investors are falling head over heels to have a taste of Nigeria’s investment bride.Yes, you can say this about Gombe State without equivocation. Gombe State has won Nigeria’s Best State in the Ease of Doing Business award back to

NDLEA recovers 390kg illicit drugs in Kano, Kaduna, others, in 5 days

The National Drug Law Enforcement Agency (NDLEA) recovered 390kg of illicit drugs in Kano, Kaduna, Borno and Oyo states in raids conducted between May 30 and June 3. Its spokesman, Mr Femi Babafemi stated on Sunday in Abuja that two suspects, Ma’aruf Rabiu and Abubakar Mustapha were arrested on May 30 on Zaria-Kano Road in Kano State. They were in possession of 260 blocks of Indian hemp weighing 39.4kg, he stated. He added that another suspect, Auwal Ibrahim was nabbed with 38kg of Indian hemp on May 31 on Kaduna-Abuja Road. “Also on May 31, a 35-year-old female suspect, Bilkisu Isiya, was arrested at Birnin Yero, Kaduna in possession of 5.6kg Indian hemp,’’ Babfemi stated. He stated also that one Abubakar Usman and Adamu Yusuf were arrested at Bargu village in Shani Local Government Area of Borno on June 3 with 165 blocks of skunk weighing 140.7kg. He added that their arrest was effected with the support of the military deep inside an insurgents’ environment. “A female suspect, Hauwa Ibrahim, 25, was also nabbed in Bargu village with 6.4kg of skunk. “Another suspect, Alhaji Abubakar, 27, was arrested at Njimtilo checkpoint, Borno with 4,200 ampoules of Pentazocine injection and different quantities of psychotropic D5 and exol-5 tablets. “A 30-year-old suspect, Iroko Wasiu was arrested at a drug joint at Sabo Aba-Owolowo on Oyo-Ogbomoso Expressway on May 30 and 31.2kg of cannabis was recovered from him. “Two suspects, Deji Adelabu, 35, and Mutiu Salau, 37, were nabbed on May 31 in Sabo area on Oyo-Ogbomoso Road and at Awuro Dada area in Orire Local Government Area of Oyo State, respectively. “They had a combined weight of 8kg Indian hemp on them,’’ Babafemi stated. 

FG’s approval for private importers will crash fuel price, says IPMAN

The Independent Petroleum Marketers Association of Nigeria (IPMAN), has commended the Federal Government for approving the importation of petroleum products by private firms. Mr. Chinedu Anyaso, Chairman of IPMAN Enugu Depot Community, in charge of Anambra, Ebonyi and Enugu States, said this while reacting to the development in Awka on Sunday. The Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, on Friday, said private marketers could now import petrol into the country. Farouk said under the new arrangement, the NNPCL had ceased to be the sole importer of petrol into Nigeria. “We put the regulation in place, we make sure quality control is complied with, we make sure the product is there and we give licence to any prospective importer. “The market is now open for everybody that wants to import as far as they meet all the requirements. The NMDPRA will no longer fix prices or release templates for petrol. “As far as we are concerned in the NMDPRA, this is not like before when the PPPRA fixes the price; in a deregulated market, it is the market force that dictates the price,” he said. Anyaso said this was a positive development and appropriate responses to the demands of marketers and Nigerian masses who had condemned the monopolistic grip of NNPCL on the oil and gas sector for decades. He said this would create the much needed competitive pricing environment and allow market forces to demand price of products. According to him, “two days ago, I repeated the call that the Federal Government should issue import licences to private investigators, I also said it is wrong for the NNPCL, which is a private company, to be the sole importer and determiner of prices. “I am happy that the same NMDPRA also announced that approval has been given to private importers. This is how it should be in a deregulated Industry. “The competition that will begin in the coming days will surely ease the pain of high prices of products,” he said. Anyaso commended the Federal Government for its bold step and called on it to extend the same to refineries to complement the contributions of Dangote refinery when it commenced production. He said the four existing refineries should be repaired to produce at optimal capacity while licences are issued to more people who could build modular refineries. He said this was the time to address the problem of Enugu Depot which had been moribund for over 15 years and had made distribution of products in the zone difficult as a result. “We are appealing that as the government is addressing the issue of supply, they should also address the problem of distribution, Enugu Depot has not functioned for over 15 years, we need the Federal Government to fix it. “It has not been easy for our members who source products from Lagos, Warri, Calabar and bring by road, the risk, accident and losses have been too much,” he said.

Unity Bank posts impressive 21% growth in Q1

Unity Bank PLC has recorded sustained improved performance in its first quarter of 2023. In its unaudited financials for the first quarter of 2023, the bank stated that it recorded a Profit after Tax of N1.04 billion, a 21 percent growth against N869.2 million it earned in the corresponding period of 2022. Its gross earnings for the quarter were put at N15.9 billion, a 17 per cent growth from N13.6 billion generated in the corresponding period of 2022. Managing Director/Chief Executive Officer, Unity Bank Plc, Mrs Tomi Somefun, said that the bank would remain laser-focused on its strategic choices and key growth drivers to push all the indices and elevate growth to double-digit territory. “The performance posted for Q1’23 in terms of the PBT, gross earnings, and other key indicators are strong reinforcement of adequate measures being adopted and a testament of our resolve to sustain and equally improve upon the fundamental initiatives adopted to strengthen growth throughout the course of the financial year. “Since late 2022, the bank has begun significant investment in technology and innovation in line with its strategic pursuits to win in the retail space with our focus on digital and lifestyle banking, dynamic product development, and accelerated onboarding. “As part of our transformation journey, we will double down on these investments in the coming months in order to achieve our aspirations of significantly reducing customer pain points and simplifying customer experience. “We will increase the rate of customer acquisition; expand the frontiers of partnerships; and ultimately develop new and sustainable income lines for the Bank,” she said. Somefun said that the bank would further give attention to fast-paced process automation, cost and resource efficiency, targeted value chain relationships, and brand visibility as it expands the range of products and services to meet the evolving needs of its esteemed customers. She said also that the bank’s focus on building back momentum had continue to reflect in the key performance indicators despite economic headwinds and volatilities that characterised the operating environment in the 2022 financial year. “There are highs and lows as we look at the gross earnings, with 13.7 per cent growth, increase in liquid assets by 7.5 per cent and deposits recording moderate growth of 1.6 per cent, while maintaining steady growth in profitability. “Overall, the financial statement thus threw up both strong and less optimal points which inform the outlook for our business”, she said. A major highlight of the financial year ended Dec 2022, is the growth in total comprehensive income, which rose by 262.1per cent to N1.2 billion from N744 million in the corresponding period of 2021. The bank grew Profit before Tax (PBT) by N1.1 billion, while Profit After Tax stood at N941.4 million. With the loan book sustaining an expansion by 7.5 per cent to N289.4 billion from N269.3 billion within the period under review, the interest and similar income consequently witnessed significant growth rising 7.5 per cent to close at N48.9 billion compared to N43.2 billion in the corresponding period of 2021. Similarly, income from fees and commissions recorded significant growth, rising by 25.7per cent to N7.68 billion from N6.1 billion within the period under review. More so, deposits from customers saw marginal growth, increasing by 1.6 per cent to N327.4 billion from N322.2 billion in the corresponding period of 2021 as the bank pushes for deeper penetration of its retail footprint with the rollout of products targeting different segments of the market.

Women Arise marks 27 years Kudirat Abiola remembrance

Dr Joe Okei-Odumakin, President, Women Arise, has saluted the efforts of the late Kudirat Abiola who fought for the return of democracy to the country. In her tribute on Sunday to the pro-democracy activist who was killed 27 years ago, Okei-Odumakin described Kudirat as “a rare Amazon” that is greatly valued. Kudirat Abiola was the wife of the late winner of the annulled June 12, 1993 presidential election, Chief Moshood Kashimawo Abiola. “Her memory is as lucid as the vision of all the glorious compatriots whom we were favoured to rub shoulders with in the face of fire. “Those who have gone ahead as the pantheon builds. The finest across generations of a beleaguered country. “Among such is Kudirat situated. In the strong spirit of duty and commitment to justice,” Okei-Odumakin said. According to the Human Right Activist said, though it has been 27 years since Kudirat Abiola was killed, the death is still fresh in the minds of pro-democracy activists. Okei-Odumakin said that her total dedication to justice still retained in memories. “It is evergreen and as fresh as the day. “The late Kudirat Abiola was killed fighting for justice, for defining womanhood, dignity and humanity. “She walked right, would not run nor flinch but was killed for asking for justice,” she said. Okei-Odumakin told the people not to forget those who fought for justice and democracy. “Some swam in sweat. Some bled and some died. Kudirat died among others who have taken seats in Valhalla,” she said.

Subsidy Removal: NUJ to join NLC’s nationwide strike

The Nigeria Union of Journalists (NUJ) has threatened to withdraw its services nationwide as a result of the recent subsidy removal and increase in fuel pump price the federal government. According to a statement signed by the National Secretary, Shuaibu Usman Leman, the Union said its members will join the proposed NLC strike which begins Wednesday 7 June, 2023. “An emergency Central Working Committee meeting of the Nigeria Union of Journalists (NUJ) was convened online on Saturday, to discuss issues surrounding the decision by the Federal Government to remove Fuel Subsidy and the position taken by the Nigeria Labour Congress. “After presentations by the National President, Chris Isiguzo, and the National Treasurer Bamidele Atunbi on the position taken by NLC on the matter, members unanimously adopted the position of NLC on the issue. “The CWC reiterates the argument that although the removal of fuel subsidy will free allocations which can be channeled to the provisions of infrastructure and creation of additional jobs, the sudden removal could however lead to social unrests and protests as people may perceive Government as being insensitive to their plight. “CWC also notes that already there is an astronomical increase in the prices of petroleum products and high inflation which have drastically reduced the purchasing power of citizens. “Accordingly CWC directs all State Councils of the Union to mobilise members to withdraw their services and commence protests nationwide from Wednesday next week, 7th June, 2023, if the Nigerian National Petroleum Company Limited (NNCPL) refuses to reverse the new price regime in the oil sector,” the statement said.

Beef price rises by 23.13% in 12 months – NBS

The average price of 1kg of Beef boneless stood at N2,495.69 in April 2023, the National Bureau of Statistics (NBS) has said.   In its Selected Food Price Watch for April 2023 report, the statistics bureau noted that it indicates a 23.13 per cent rise in price on a year-on-year basis, from N2,026.85 recorded in April 2022 and a 0.65 per cent rise in price on a month-on-month basis from N2,479.61 in March 2023. “The average price of 1kg of Tomato increased by 13.73% on a year-on-year basis from N426.54 in April 2022 to N485.10 in April 2023. “On a month-on-month basis, the average price of this item increased by 3.97% in April 2023,” the report said.   The average price of 1kg of brown Beans rose by 16.03 per cent on a year-on-year basis from N530.62 in April 2022 to N615.67 in April 2023. On a month-on-month basis, it increased by 3.13 percent from N596.96 in March 2023. 

Poor power supply stunting growth of Nigeria’s vibrant manufacturing sector

The power sector that is the livewire of any economy has refused to work efficiently in Nigeria. This has rubbed off on the manufacturing sector as many have had to close shop due to the high cost of alternative energy. Experts are in consensus that except the power sector works efficiently, getting the manufacturing sector back to its feet would be a herculean task, BENJAMIN ORISEMEKE writes.    Once a manufacturing hub in the West African sub-region, that has not been the case for over two decades as a sector that once stood strong is now lying prostrate due to several factors that still hold the Nigerian economy down. From the days of the Electricity Company of Nigeria (ECN) through the numerous attempts to commercialise the sector to when it was changed to the Power Holding Company of Nigeria (PHCN) and finally unbundled and privatized, one thing still remains constant, which is that the same structural issues continue to dug the sector. There was, however, a glimmer of hope when in November 2013, the Goodluck Jonathan administration sold the generation and distribution part of the sector. Many thought the sector would be able to achieve its potentials but alas, despite all the promises by investors of turning the sector around, it has been the same old stories. Dire Straits Current operating figures reveal that Nigeria’s power sector is in dire straits. The sector experiences many broad challenges related to electricity policy enforcement, regulatory uncertainty, instability in gas supply, transmission system constraints, and major power sector planning shortfalls that have kept it from reaching commercial viability. In 2022, the Nigerian Electricity Regulatory Commission (NERC) numbers showed that independent power plants (IPPs) accounted for 31.2% of total Generating Companys’ (GenCos) capacity. This indicates a 300 basis points decline from 2021 due largely to gas constraints and faulty machinery. In addition, on average, only five IPPs: Azura-Edo (26%), Odukpani (19%), Okpai (16%), Afam VI (15%), and Rivers IPP (8%) jointly accounted for circa 84% of the power generated from the 12 independent power producers in the last four years, due partly to gas constrain. The World Bank’s 2020 Ease of Doing Business report showed that 47 percent of Nigerians lack access to electricity supply. This drastically reduced the contribution of the private sector to the economy As of 2021, the African Development Bank (AfDB) in a report put Uganda’s electricity sector as the continent’s best-regulated sector. According to AfDB’s 2021 Electricity Regulatory Index, other strong performers included Kenya and Tanzania, Namibia, and Egypt. Nigeria placed 23rd on the ranking, South Africa (10th), and Ghana (17). Grid performance data from the Federal Ministry of Power in March showed that electricity generation on the national grid was 4,456.8MW. An analysis of randomly picked figures from the grid performance data indicated that power generation had stayed above the 4,000MW mark for months, while the country had yet to record any total grid collapse this year, unlike in 2022. Also, according to the data, on March 2 and 3, 2023, power generation on the grid was 4,859.8MW and 4,962.7MW respectively, while it was 4,753.9MW on February 23, 2023. A recent report by the electricity Think tank Group, comprising the Society for Planet and Prosperity, GCA Capital Partners Climate Advisors, indicates that about 75 percent of electricity consumed in Nigeria, comes from diesel and petrol-powered generators. The Manufacturing sector bears the brunt The lack of adequate power supply in Nigeria is crippling the economy. That significantly explains why many manufacturing companies have relocated to other countries in West Africa, where the power supply is stable. Recent data from the Manufacturers Association of Nigeria (MAN) revealed that between 2015 and 2019, 320 manufacturing companies shut down operations and others left the country due to unstable power supply.  Diesel and petrol-powered generators are reported to account for about 25,000MW, while the national grid provides about 4,000MW, far less than what is needed for economic growth and development. Available records indicate that business owners spend about N6.05 trillion on generators. Experts say economic loss due to grid collapse is 2 per cent of Nigeria’s Gross Domestic Product (GDP). Also, most of the MSMEs have identified unreliable electricity as a major challenge to their businesses. Even MSMEs are willing to switch to renewable energy. Figures from the Nigeria Electricity Regulatory Commission (NERC) show that in one year, electricity consumers paid N750 Billion as tariffs, while the national grid reportedly suffered system collapse up to 50 times. According to a World Bank report, as a result of poor power supply in Nigeria, businesses lost an excess of N96.4 trillion in the last nine years. This amounts to an average yearly estimate of $29billion. Small and big businesses that depend on diesel for their operations are struggling to survive due to the high cost of the product. Changing the narrative Already, the epileptic power situation has caused quite a number of small businesses to close shops resulting in job losses. Creditors such as banks and other private equity also share in the losses when they can’t get their money back. The high cost of running manufacturing plants on generators is one of the reasons most local companies have failed to be competitive or carry out new employment.   In spite of the scary scenarios, it is not all gloom and doom for the country’s manufacturing sector. Experts are confident that with the massive work in the sector in the last 8 years, it is bound to experience a new lease of life. This is coupled with the legislation that now empowers States to establish their own power plants. During his inaugural speech Monday in Abuja, President Bola Ahmed Tinubu, said “his administration shall continue the efforts of the Buhari administration on infrastructure. Progress towards national networks of roads, rail and ports shall get priority attention”, he said. Experts have opined that to get the country’s manufacturing sector working again, the present administration must fix the power sector.   Experts Speak Regional Director for Infrastructure West &