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‘World Bank Report Reveals Why Nigeria Needs Atiku’

Published

1 year ago

December 12, 2022

‘Against the backdrop of a bleak economic future for Nigeria painted by the World Bank recently, the Peoples Democratic Party Presidential Campaign Council has said the report justifies the need to have its candidate, Atiku Abubakar, elected president of the country to address the nation’s many challenges.

The PUNCH had quoted Alex Sienaert, World Bank’s lead economist for Nigeria, as saying that in 2023, debt servicing will gulp 123.4 per cent of the country’s total revenue.

Sienaert had stated this in a presentation titled ‘Nigeria Public Finance Review: Fiscal Adjustment for Better and Sustainable Development Results’ for the month of November.

“Borrowing more is not the solution: debt costs are rising rapidly, squeezing non-interest spending,” he said, adding that “debt servicing has surged over the past decade and is expected to continue increasing over the medium-term, crowding out productive spending.”

Responding in a statement to the presentation, spokesman of the campaign council, Senator Dino Melaye said, “The solution to the years of the locusts under APC is Atiku Abubakar, who worked under a team that brought great economic prosperity to Nigeria.

“The APC presidential candidate is always eager to dissociate from Buhari, but he carries a DNA that is infused with the APC blood and water. What can he do differently? Besides, if he had a different solution he could have offered it to his failed party so as to pave a smooth way for his own emergence. Having ‘chilled’ with the big boys, he now wants to ‘chill’ alone.

“Nigerians should look forward to the termination of APC’s arrested development when Atiku/Okowa and the PDP return Nigeria to its winning ways. As President Obasanjo said in his famous aphorism, there is no need to reinforce failure.

“What the World Bank report has done is an economic advisory, which Nigerians have to take seriously by looking away from APC and embracing the People’s Democratic Party on February 25, 2023.”

According to the statement, “the recent report by the World Bank, confirming the arrested development experienced under the All Progressives Congress administration since 2015 has more than any other indices, justified the imperative of stopping APC from doing further damage to Nigeria’s economy and social advancement in 2023.

“The APC inherited a healthy economy in 2015, just a year after Nigeria’s economy was re-based, and rated as the largest economy in Africa, ahead of South Africa. Rather than consolidate on the gains recorded by the PDP administration, Buhari and the APC embarked on unprecedented economic amateurism that has thrown Nigeria into one of the least performing economies in Africa. The APC has also thrown Nigeria into such a huge debt doldrum that it would take the country years of creative management to regain lost grounds.

“The APC which premised its campaign on change has succeeded in taking Nigeria back more than 10 years. While they accused their predecessors of corruption, they have now made corruption a state policy and the stench in the high corruption quotient of APC provokes deep revulsion.”

The statement further read, “Nigerians will not forget the great prosperity under the PDP administrations. They can also not forget how the reversal of fortune under APC has brought Nigeria down from prosperity to poverty, resulting in the relegation of Nigerians to a nation of 133 million poor citizens.

“If only Nigerians understood what the APC meant by change! The prodigal son scores better when peered with the APC.

“Sadly, the poor performance of the APC is not limited to the economy. Insecurity has degenerated by a higher degree. Unemployment is at its worst. The energy crisis remains intractable and unaddressed.

“The Buhari administration and APC are now relying on the Department of State Services to make fuel available to Nigerians. The subsidy programme that came under heavy criticism by APC has not only been sustained but has become an indefensible and convoluted policy in which the supposed poor now pay higher for fuel than the obviously rich. While fuel sells for about N180 in the cities, the rural folks buy the same product at about N300-500 per litre.”

News

Primary School Pupil Bags N21m Scholarship For Scoring 100% In Maths Competition

Published

4 hours ago

May 20, 2024

Editor

A young mathematics prodigy, Ugwoezuonu Ogechi Zara, has reportedly been awarded a N21 million scholarship after scoring a perfect score of 100% in the primary category of the National Mathematics Competition organised by the Mathematics Association of Nigeria.

An education activist and Chief Executive Officer of Educare, Alex Onyia, disclosed this on Friday via X while expressing pride in Zara’s exceptional performance.

“Ugwoezuonu Ogechi Zara scored a perfect score of 100% in the primary category of National Mathematics Competition organised by Mathematics Association of Nigeria (MAN),” Onyia stated.

Accordingly, Zara’s outstanding achievement has secured her a full six-year scholarship at Evergreen College in Enugu.

“She has been awarded a full scholarship worth N21 million to study for six years at Evergreen College, Enugu,” Onyia added.

The National Mathematics Competition, organised annually by MAN, is a highly competitive event that attracts the brightest young minds from across the country.

On Monday, six students of Divine Rays British School in Idemili North Local Government Area of Anambra State emerged tops in the just-concluded 2024 National Mathematics Competition, organised by Catalyst Consulting and held across designated states of the country.

News

[UPDATED] N30,000 Minimum Wage: Labour Issues Two-week Ultimatum To Defaulting States

Published

4 hours ago

May 20, 2024

Editor

The organised labour comprising of the Nigeria Labour Congress and Trade Union Congress, on Monday, ordered state chapters to issue two weeks ultimatum to states that have failed to implement the old N30,000 minimum wage.

The NLC and TUC took this decision during a jointly held National Executive Council meeting which took place on Monday.

Today’s meeting was held ahead of the meeting with the Tripartite Committee on minimum wage which is slated for

The committee is expected to meet Tuesday after negotiations failed last week following the walkout by Labour as the FG proposed the sum of N48,000 as the new minimum wage.

The Chairman, Tripartite Committee on National Minimum Wage, Bukar Goni, indicated in a letter of invitation to labour leaders that negotiations would continue on Tuesday.

The Organised Private Sector, on the other hand, proposed an initial offer of N54,000. After dumping the talks, the labour leaders addressed a press conference where they expressed their anger over the FG’s offer.

The National President, Nigeria Labour Congress, Joe Ajaero, insisted on N615,000 minimum wage, arguing that the amount was arrived at after an analysis of the current economic situation and the needs of an average Nigerian family of six.

He blamed the government and the OPS for the breakdown in negotiation, saying, “Despite earnest efforts to reach an equitable agreement, the less than reasonable action of the Government and the Organised Private Sector has led to a breakdown in negotiations.”

In a statement released at the end of the jointly held NEC meeting by the NLC and TUC which was signed by Ajaero and TUC President Festus Osifo, the unions said, “The NEC acknowledges the ongoing negotiations between the NLC/TUC, the Organised Private Sector and the Federal Government regarding the new national minimum wage.

“While appreciating the efforts made thus far, the NEC emphasises the urgency of reaching a fair and equitable agreement that reflects the true value of Nigerian workers’ contributions to the nation’s development and the current crisis of survival facing Nigerians as a result of government’s policies. The NEC affirms its commitment to ensuring that the interests and welfare of workers are adequately protected in the negotiation process.

“The NEC-in-session, therefore, reiterates the ultimatum issued by the NLC and TUC to the Federal Government, which expires on the last day of this month. It emphasises the non-negotiable nature of the demands put forth by Nigerian workers and urges the government to prioritise the resolution of these issues in the best interest of industrial peace.

“NEC-in-session further directed all state councils whose State Governments are yet to fully implement the N30,000 National Minimum Wage and its consequential adjustments to issue immediately a joint two-week ultimatum to the culpable State Governments to avert industrial action.”

The unionists directed that all “affiliates and workers in the Anambra State council mobilise their members to ensure a successful action in the event the State Government fails to meet the demands of workers by Thursday, the 23rd of May, 2024.”

“NEC therefore calls on all affiliate unions, and workers including Civil Society Organisations across Nigeria to remain united and steadfast in solidarity during this critical period. Together, we shall prevail in our pursuit of a fair and just society that guarantees the dignity and well-being of all its citizens.

“The NECs – in – session finally affirms its unwavering commitment to championing the cause of Nigerian workers and ensuring that their rights and interests are upheld at all times,” the statement concluded.

Tinubu through Vice President Kashim Shettima, on January 30, 2024, inaugurated the 37-member Tripartite Committee on Minimum Wage to come up with a new minimum wage ahead of the expiration of the current N30,000 wage on April 18, 2024.

With its membership cutting across Federal and State Governments, the private sector, and organised labour; the panel is to recommend a new national minimum wage for the country’s workers.

During the inauguration of the panel, Shettima urged the members to “speedily” arrive at a resolution and submit their reports early.

“This timely submission is crucial to ensure the emergence of a new minimum wage,” Shettima said.

In furtherance of its assignment, a zonal public hearing was held simultaneously on March 7 in Lagos, Kano, Enugu, Akwa Ibom, Adamawa states, and Abuja.

The NLC and the TUC, in different states, proposed various figures as a living wage, referencing the current economic crunch and the high costs of living.

In their different proposals on the minimum wage, the NLC members in the South-West states demanded N794,000 as the TUC suggested N447,000.

At the North-Central zonal hearing in Abuja, the workers demanded N709,000 as the new national minimum wage, while their counterparts in the South-South clamoured for N850,000.

In the North-West, N485,000 was proposed, while the South-East stakeholders demanded N540,000 minimum wage.

However, the organised labour settled for N615,000 as a living wage.
PUNCH

News

JUST IN: NLC To Picket Turkish Airline

Published

5 hours ago

May 20, 2024

Editor

The national secretariat of the Nigeria Labour Congress has ordered its members in Lagos State to shut down Turkish Airlines in the state on Tuesday over the sacking of seven of its members.

The NLC stated that it would ensure the picketing of the airlines until its management reinstates the affected workers.

According to an NLC statement signed by the union’s General Secretary, Chris Uyot, on Monday, the NLC noted that seven of its members working with the airlines were sacked for unionising under the umbrella of the National Union of Air Transport Employees.

In April, NUATE threatened to picket airlines operating in the country after they had refused their staff the opportunity to join trade unions of their choice.

NUATE said such an act was against labour law for some airlines to make employment conditional upon not joining a trade union, adding that those who threaten workers with sacks, if they join unions, are working against Nigerian laws.

Aside from the seven persons earlier sacked, the NLC noted that it has gathered that the airline is attempting to lay off four other members of the union.

“By the above action of unjustifiable dismissal of their workers, the management of Turkish Airlines has put to waste 10-14 years of service. And this fate has befallen these hapless workers purely on account of exercising their constitutional rights to belong to a trade union. Congress will not tolerate this situation.

“Therefore, the Lagos State Council of NLC is hereby directed to commence picketing of Turkish Airlines in Lagos with effect from Tuesday 21st May 2024 until all staff of Turkish Airlines who have been sacked, dismissed, forced to abandon duty, or forced to resign under duress, including those victimised for their union membership in 2020, have been fully restored to their jobs without any losses of any kind.

“All affiliate unions in aviation are particularly charged to mobilise heavily for the picketing action without fail, please.” the union’s statement read partly.

Meanwhile, the union further stated that the Federal Capital Territory Council would be standing by in case “the need arises to escalate the matter to the Abuja airport.”