News

Ajaero Says FG’s 35% Pay Rise Mischievous, Seeks N615,000 Living Wage

Published

2 years ago

May 1, 2024

Editor

The President of Nigeria Labour Congress, Joe Ajaero, has criticised the Federal Government’s pay raise announcement, describing it as mischievous moves.

On Tuesday, the Federal Government approved a pay rise of between 25 and 35 per cent for civil servants across various consolidated salary structures.

Speaking on Wednesday during an interview on Sunrise Daily, a Channels Television programme, Ajaero said the last minimum wage of N30,000 expired on April 18.

“We should be in the regime of new minimum wage as of today. Discussions were supposed to have been concluded,” Ajaero said.

“The federal government through the national assembly legislated on it. But we saw that the discussion entered voice mail because the federal government refused to reconvene the meeting that was adjourned.

“I think the announcement now appears mischievous because there is no wage increase that the government is announcing. For them to announce it now, is an issue that we are worried about at the NLC and even at the TUC.”

Ajaero further said organised labour has agreed on N615,000 as the living wage for civil servants.

“Living wage is such that will, at least keep you alive. It is not a wage that will make you poorer and poorer. It is not a wage that will make you borrow to go to work. It is not a wage that will lead you to be in the hospital every day because of malnutrition. For that living wage, we have tried to look at N615,000,” he added.

“Let me give you a breakdown of how we arrived at that figure. We have housing and accommodation of N40,000. We asked for electricity of N20,000 — of course, that was before the current tariff increase. Nobody can spend this amount currently. We have a utility that is about N10,000. We looked at kerosene and gas which is about N25,000 to N35,000.

“We looked at food for a family of six, that is about N9,000 in a day. For 30 days, that is about N270,000. Look at medical, N50,000 provided there will be no surgery or whatever.

“For clothing, we looked at N20,000. For education, N50,000. I don’t know if those who tried to put their children in private school, will not be able to cope with this amount. We also have sanitation of N10,000.

“I think where we have another bulk of the money is transportation. This is because the workers stay on the fringes and because of the cost of PMS, which amounted to N110,000.

“That brought the whole living wage to N615,000 and I want anyone to subject this to further investigation and find out whether there will be any savings when you pay somebody on this rate.”
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News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

3 hours ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

4 hours ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

6 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.