Plan To Borrow 2trn From Pension Fund By FG Faces Stiff Resistance

In the last three weeks in Nigeria, there has been growing tension and anxiety between the Federal Government, the trade union and civil society at large over a plan by the Federal government to borrow N2 trillion out of the N10trillion pension fund, to finance infrastructure.

Hundreds of motorcycle riders working for Gokada and Max, on Friday staged a protest at the Lagos State House of Assembly following the proposed ban on their operation by the state government beginning from February 1.  The operators, who carried placards with different inscriptions, demanded the suspension of the planned ban on motorcycle and tricycle riders in 15 local council areas of the state.

The Minister of Agriculture and Rural Development, Sabo Nanono says the federal Government is considering banning fish Importation by year 2022 to encourage local production and boost revenue. The Minister made this statement in Abuja when he received a delegation of National Fish Association of Nigeria (NFAN) lead by the president of the Association, Dr. Gabriel Ogunsanya.

President Muhammadu Buhari on Tuesday launched Nigeria’s new visa policy. According to Dailytrust, the policy allows citizens of other countries to visit Nigeria without visas. However, on arrival, the visitor would commence the process of securing a visa for the duration of their stay. President Buhari while speaking at the ceremony, said the policy will improve the business environment, attract Foreign Direct Investment and boost tourism without compromising national security.

The Enugu State Government has approved the payment of N30,000 Minimum Wage for state workers with effect from February, 2020. The approval followed the submission of the report of the joint committee of labour and the state government set up by Governor Ifeanyi Ugwuanyi, for the negotiation of the consequential adjustment of the N30,000 Minimum Wage.

Organized labour in Niger state on Monday directed workers in the state to embark on an indefinite strike from February 4, over non-implementation of the new national minimum wage by the state government. According to Vanguard, the directive was contained in a statement jointly signed by Mr Yakubu Garba, chairman, Nigeria Labour Congress (NLC) and his Trade Union Congress (TUC) counterparts Yunusa Tanimu.

The Director-General, National Youth Service Corps (NYSC), Brig. Gen. Shuaibu Ibrahim on Tuesday said the service would soon start revenue generation.  Ibrahim stated this in Jos, Plateau state capital while addressing NYSC staff. According to him “We are going to start generating revenue and in our next budget, we are going to include Internally Generated Revenue (IGR).

The Federal Government is set to this week sign a tripartite agreement with the United States of America (USA) and the Island of New Jersey for the repatriation of $321 million looted by late Head of State, Gen. Sani Abacha. Dr. Umar Gwandu, spokesperson of the Attorney-General of the Federation and Minister of Justice, Justice Abubakar Malami (SAN) made the disclosure in a statement, saying the AGF would sign the agreement during a three-day meeting in Washington DC, on behalf of the Federal Government.

The Nigeria Liquified Natural Gas Limited (NLNG) has signed a sale and purchase agreement (SPA) with Italian multinational oil and gas company, Eni for some remarketed volumes of NLNG’s Trains 1, 2 and 3. The SPA shows that NLNG is deemed a safe and reliable International LNG supplier.

More Articles ...