News

Strike Looms As NLC Demands Immediate Reversal Of Petrol Price Hike

Published

2 years ago

September 3, 2024

Editor

The Nigeria Labour Congress (NLC) on Tuesday demanded an immediate reversal of the hike in fuel price announced by the Nigerian National Petroleum Company Limited (NNPCL), saying the hike has worsened the misery of Nigerians.

Amid the lingering fuel scarcity in the country, the NNPCL increased the pump price of petrol from ₦568 to ₦855, ₦897 (depending on the location per litre).

Condemning the move in a statement, NLC President, Joe Ajaero, accused the Federal Government of betraying labour movement.

Ajaero said, “We demand the immediate reversal of the latest increase in the pump of PMS across the country, release of all those incarcerated or being prosecuted on the assumption of having participated in the recent protests.

“Halt the indiscriminate arrest and detention of citizens on trumped up charges, reversal of the 250% tariff hike in electricity, stop to the hijack of the duties of the Ministry of Labour and Employment.

“End to policies that engender hunger and insecurity, Halt to government’s culture of terror, fear and lying. We are guided by our belief in our country and the need to secure and sustain its sovereignty, integrity and welfare of the people.”

Traumatic policies

According to the NLC President, the current administration is yet to implement the new national minimum wage of N70,000.

While accusing the government of insincerity, Ajaero described the policies of the current administration as traumatic.

He recalled how President Bola Tinubu gave labour leaders the option of choosing from N250,000 as the new minimum wage in exchange of petrol price at N1,500, and said they rejected the offer due to the impact it would have on Nigerians.

“But here we are, barely one month after and with the government yet to commence payment of the new national minimum wage, confronted by a reality we cannot explain. It is both traumatic and nightmarish.

“Yet, when we told the government that it’s approach to resolving the fuel subsidy contradictions was patently faulty and would not last, it’s front-row cheer leaders sneered at us, saying we did not understand basic economics.

“But if truth be told, this act of betrayal is consistent with the character of this government. We recall the assurances we were given by the leadership of the National Assembly on the 250% tariff hike, that it had been dealt with and there was no need to openly engage the Minister of Power who was at that meeting,” he said.

Ajaero regretted that instead of the promised reversal, “the rate has since been jerked up further putting more Nigerians and businesses in jeopardy.”

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

1 hour 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

2 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

4 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.