Three Edo assembly lawmakers suspended over impeachment plot
The Edo House of Assembly on Monday suspended three lawmakers over alleged plot to impeach the speaker and other principal officers. The speaker, Blessing Agbebaku, announced the suspension at resumption of plenary in Benin. Mr Agbebaku alleged that Donald Okogbe (PDP Akoko-Edo II), Bright Iyamu (PDP-Orhionmwon South) and Adeh Isibor (PDP-Esan North East I) were being used by some external forces to cause chaos and remove the leadership of the parliament. The pronouncement led to a rowdy situation at the parliament as the lawmakers tried to challenge their suspension. “Mr speaker, you don’t have the right to unilaterally suspend any member of the house. You must call for votes,” the opposing legislators said. “Allow members to vote on the matter.” The speaker thereafter adjourned plenary abruptly.
FG Registers New Trade Union
The Federal Government has registered a new trade union. This means that illegal price fixing and exploitation of customers in Nigerian markets may soon be a thing of the past. These are some of the roles members of the newly registered National Union of Market Trade of Nigeria are to perform as workers. At its executive inauguration, officials of both the Ministry of Labour and Employment, and, the Nigeria Labour Congress, NLC however told the new union to avoid clashes with related workers groups and government established agencies in the market. The National Union of Market Trade of Nigeria is the latest affiliate of the NLC and with this latest addition, the labour centre now has 46 affiliates.
MultiChoice defies court order, increases DStv, GOtv subscriptions
MultiChoice Nigeria Limited has ignored an interim order granted to the Competition and Consumer Protection Tribunal (CCPT) in Abuja, and increased the subscription rates for its DStv and GOtv bouquets. Recall that on Monday, the tribunal issued a clear injunction restraining MultiChoice Nigeria from increasing its subscription prices, which were set to take effect on May 1. The tribunal also granted an application for substituted service of the interim order, after reports surfaced that MultiChoice’s officers at its Abuja office refused to accept the court documents. In a ruling, the presiding officer, Saratu Shafii, said the decision underscores the tribunal’s commitment to ensuring that MultiChoice complies with its orders. The applicant, an Abuja based lawyer, Festus Onifade, told reporters that a top manager at the Abuja office directed that any document should instead be sent to their Lagos headquarters. However, according to reports the new subscription fees were enforced on Wednesday, May 1, much to the dismay of millions of subscribers who waited for the company to halt the new rates. Following this development, consumers viewed the increase as a betrayal by MultiChoice and accused the cable company of disregarding both the legal system and customer interests.
2024 Hajj: Nigeria’s inaugural flight commences May 15
As expectations are high on this year’s holy pilgrimage to the Kingdom of Saudi Arabia, the National Hajj Commission of Nigeria (NAHCON) on Thursday informed that the country’s inaugural flight would take off on May 15. This was made known by NAHCON Chairman/CEO, Malam Jalal Ahmad Arabi, in his opening remark at the first National Stakeholder Summit of Nigeria’s Hajj and Umrah Industry held at the Shehu Musa Yar’Adua Centre in Abuja. Arabi informed that close to 65,500 Nigeria pilgrims would participate in the 2024 Hajj, adding that they would be airlifted by the approved airlines from 10 departure centres across the country. The NAHCON boss said the commission had decided that for this year’s operations all Nigerian pilgrims would visit and spend at least four days in Madinah before the commencement of the Hajj rites proper. Speaking on the summit, Arabi said coming together of stakeholders was a divine responsibility on all, noting that the theme of the summit, “Partnership, Collaboration and Teamwork: The tripod of success for 2024 Hajj operations”, was carefully chosen. He said the Hajj body deemed it fit to dialogue with critical stakeholders to ensure successful Hajj operations this year. He added that it is important that all stakeholders work together for the pilgrims to have memorable Hajj experience this year.
NDIC Increases Deposit Insurance Coverage For Banks, Mobile Money Operators
The Nigeria Deposit Insurance Corporation (NDIC) has increased deposit insurance coverage for all licensed deposit-taking financial institutions. Speaking at a press briefing in Abuja on Thursday, the NDIC Managing Director/Chief Executive, Bello Hassan, said the coverage ensures that depositors will be reimbursed up to a certain limit for their deposits in the event of a bank failure. He said the increment applies to Deposit Money Banks (DMBs), Microfinance Banks (MFBs), Primary Mortgage Banks (PMBs), Payment Service Banks (PSBs) and Mobile Money Operators (MMOs). The NDIC boss said by increasing deposit insurance coverage, the corporation is ensuring that the move will strengthen the banking system and encourage further financial inclusion within the country. Hassan said the increased deposit insurance coverage levels will take effect immediately, offering Nigerians greater peace of mind when saving their money with licensed financial institutions. He said: “Key increases in Deposit Insurance Coverage: Deposit Money Banks (DMBs) coverage has jumped from N500,000 to N5,000,000, providing full coverage for 98.98 per cent of depositors compared to the previous 89.20 per cent. “Microfinance Banks (MFBs) coverage has risen from N200,000 to N2,000,000, offering full coverage for 99.27 per cent of depositors (up from 98.76 per cent) and significantly increasing the value of covered deposits (from 14.38 per cent to 34.43 per cent of total deposits). “For Primary Mortgage Banks (PMBs), the maximum coverage has been raised from N500,000 to N2,000,000, ensuring full coverage for 99.34 per cent of depositors (up from 97.98 per cent) and boosting the value of covered deposits (from 10.77 per cent to 21.04 per cent of total deposits). “Payment Service Banks (PSBs) coverage has been increased from N500,000 to N2,000,000, providing near-complete protection (99.99 per cent) for depositors and raising the value of covered deposits to 43.10 per cent of the total (from 40.60 per cent). “For Mobile Money Operators (MMOs), the maximum Pass-through deposit insurance coverage has been raised to N5,000,000 per subscriber per MMO, aligning it with the coverage level for DMBs. “Deposit insurance coverage levels for all licensed deposit-taking financial institutions refer to the amount of protection provided to depositors in deposit-taking financial institutions in case the financial institution fails or goes bankrupt.”
House of Reps Reveals Steps to address Fuel Scarcity
Amid the return of long queues at petrol stations, the House of Representatives Committee on Petroleum Resources, Downstream and midstream, has assured that the Nigerian National Petroleum Company Limited, NNPCL, has about 1.5 billion litres of petrol that can last for 30 days in storage. The downstream and midstream committees, led by Hon Ikenga Imo Ugochinyere and Hon Odianosen Henry OOkojie,respectively, disclosed this during a press conference. Ugochinyere, who represents Ideato North South Federal Constituency of Imo State, stated that in the last few days the downstream and midstream committees reached out to the stakeholders in the distribution value chain; the NNPCL, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), and the Nigerian Association of Road Transport Owners (NARTO) and engaged extensively with them, with a view to ascertaining the cause of the resurgence of the fuel queues across the country. The lawmakers expressed concerns over the temporary presence of fuel queues in petrol stations across the country, which has adversely affected the lives and businesses of Nigerians. However, she, expressed optimism that normalcy would return in a few days. According to Ugochinyere, from investigations, they found out that there is availability of petrol products, at least, about 1.5 billion litres of petrol that can last for 30 days. He noted that it is as a result of logistics that the queues have resurfaced and these logistic issues range from difficulty in transporting products from the mother vessel to the respective petrol stations. Ugochinyere said, “Good day gentlemen of the press. Standing before you are the Chairmen of the House of Representatives Committees on Petroleum Resources (Downstream) and (Midstream), myself, Hon. Ikenga Imo Ugochinyere and my brother, Hon. Odianosen Henry Okojie respectively. “The purpose of this press briefing is to give an update on the scarcity of petrol products and what the Committees are doing to ensuring that the right things are done as the representatives of the people. Ladies and gentlemen, it is so painful that Nigerians have been subjected to great hardship and pains as a result of the scarcity of petroleum products in the past few days. “This development has led us as representatives of the people, to engage with the regulators of the relevant sectors with a view to finding out the cause(s) of this scarcity and providing solutions to same. “We have in the last few days reached out to the stakeholders in the distribution value chain; the Nigerian National Petroleum Company Limited (NNPCL), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), and the Nigerian Association of Road Transport Owners (NARTO) and engaged extensively with them, with a view to ascertaining the cause of the resurgence of the fuel queues across the country. “We hereby express our concerns over the temporary presence of fuel queues in petrol stations across the country. This has adversely affected the lives and businesses of Nigerians across the country. As elected representatives of the Nigerian people, we are greatly disturbed by this development. However, we are convinced that this is temporary and in a couple of days, we shall get over it. “From our investigations, we have found out that there is availability of petrol products. We have on good authority that we have in our storage facilities, at least, about 1.5 billion litres of petrol that can last for 30 days. It is however saddening to note that it is as a result of logistics that the queues have resurfaced. These logistic issues range from difficulty in transporting products from the mother vessel to the respective petrol stations. Movement of products from offshore marine vessels to the stations, disruption from Escravos channels.
New Minimum Wage to become Effective May 1
The Federal Government says that although the Tripartite Committee On National Minimum Wage is yet to conclude its negotiations, workers will not lose anything as the new minimum wage will take effect from May 1, 2024. The Minister of State Labour, Nkeiruka Onyejeocha, stated this on Wednesday while addressing Nigerian workers at the May Day celebration in Abuja. She said it is regrettable that the new national minimum wage is not ready before today but that a wide consultation is ongoing to ensure that the document is out together as soon as possible. The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have at various times called on the administration of President Bola Tinubu to hasten the upward review of wage awards. Of late, the organised labour demanded N615,000 as the new minimum wage for workers to cope with the many economic realities and high cost of living in Nigeria. The labour unions said the current minimum wage of N30,000 can no longer cater for the wellbeing of an average Nigerian worker, lamenting that not all governors are paying the current wage award which expired in April, five years after the Minimum Wage Act of 2019 was signed by former President Muhammadu Buhari. The Act is to be reviewed every five years to meet up with contemporary economic demands of workers. Meanwhile, President Tinubu has lauded the contributions of workers in Nigeria to the growth of the country. He gave the commendation in his address to the workers presented by Vice President Kashim Shettima at an event to mark the 2024 Workers’ Day in Abuja. He said the federal government is open to receiving the recommendations of the committee on the new national minimum wage. He assured that the reform agenda of the current administration is geared towards the progress of Nigeria.
Nigerian Government Offers Free Ride On Port Harcourt-Aba Railway
The Nigerian Federal Government has announced a generous initiative, offering free passenger train rides on the recently rehabilitated Port Harcourt to Aba railway line. Permanent Secretary of the Ministry of Transport, Oloruntola Oluremi, revealed the news on Tuesday night. The complimentary rides will be available for four days, from May 1 to May 4. Departures from Port Harcourt are scheduled for 8 am daily, with return trips from Aba at 3 pm. Full commercial operations will resume on May 7. This announcement follows the inauguration of the Port Harcourt-Aba rail line by Minister Senator Said Alkali earlier in the week. Alkali emphasized that such endeavors reflect the government’s commitment to enhancing trade and mobility across the nation. The statement reads, “There will be a free train ride between Port-Harcourt and Aba on the 1st, 2nd, 3rd and 4th of May 2024. “The train will be departing Port-Harcourt everyday by 8am for Aba. It will also be departing Aba every day for Port -Harcourt by 3pm. Full commercial operations resume on Tuesday 7th May 2024″.
Tinubu Govt Approves Salary Increase For Civil Servants
The Federal Government has approved an increase of between 25% and 35% in salary increase for Civil Servants on the remaining six Consolidated Salary Structures. A statement signed by the Head of Press of the National Salaries, Incomes and Wages Commission (NSIWC), Emmanuel Njoku, said the increases take effect from 1st January 2024. Njoku added that the government has also approved increases in pension of between 20% and 28% for pensioners on the Defined Benefits Scheme with respect to the above-mentioned six consolidated salary structures with effect from 1st January 2024. The Salary Structure is the Consolidated Public Service Salary Structure (CONPSS), Consolidated Research and Allied Institutions Salary Structure (CONRAISS), Consolidated Police Salary Structure (CONPOSS), Consolidated Para-military Salary Structure (CONPASS), Consolidated Intelligence Community Salary Structure (CONICCS) and Consolidated Armed Forces Salary Structure (CONAFSS). It will be recalled that those in the Tertiary Education and Health Sectors had already received their increases which involved Consolidated University Academic Salary Structure (CONUASS) and Consolidated Tertiary Institutions Salary Structure (CONTISS) for Universities. For Polytechnics and Colleges of Education, it involved the Consolidated Polytechnics and Colleges of Education Academic Staff Salary Structure (CONPCASS) and Consolidated Tertiary Educational Institutions Salary Structure (CONTEDISS). The Health Sector also benefitted through the Consolidated Medical Salary Structure (CONMESS) and Consolidated Health Sector Salary Structure (CONHESS).
There Will Be Total Blackout For The Next Three Months If You Reject New Policy – Minister of Power Warns Senate
The Minister of Power, Adebayo Adelabu, has warned that there will be a total blackout in Nigeria in the next three months if the proposed electricity tariff hike is not implemented. The minister stated this yesterday in Abuja when he appeared before the Senate Committee on Power at an investigative hearing over the recent electricity tariff hike by the Nigerian Electricity Regulatory Commission (NERC). This is after the Senate committee, led by Senator Enyinnaya Abaribe, rejected the new tariff regime. Adelabu warned that the entire sector would be grounded if the Commission fails to increase the tariff. Adelabu said, “The entire sector will be grounded if we don’t increase the tariff. With what we have now in the next three months, the entire country will be in darkness if we don’t increase tariffs. “The increment will catapult us to the next level. We are also Nigerians. We are also feeling the impact.” He said $10 billion yearly for the next ten years is needed to revive the nation’s power sector and nip in the bud the challenges bedevilling it. “For this sector to be revived, the government needs to spend nothing less than 10 billion dollars annually in the next 10 years. “This is because of the infrastructure requirement for the stability of the sector. But the government can not afford that. And so we must make this sector attractive to investors and to lenders. “So, for us to attract investors and investment, we must make the sector attractive, and the only way it can be made attractive is that there must be commercial pricing. “If the value is still at N66 and the government is not paying subsidy, the investors will not come. But now that we have increased the tariff for A Band, there are interests being shown by investors,” he said.