FG To Commence Distribution Of 42,000mt Palliative Grains Next Week

The federal government has said that the distribution of 42,000 metric tons of grains to vulnerable Nigerians will be flagged off by next week in Niger State. Niger State Governor, Umar Bago, who disclosed this after a meeting with the Minister of Agriculture and Food Security ahead of the commissioning of the mechanisation program by the President in the state, said the distribution of the grains will be flagged off in the state as the state will be used as pilot state in the North Central so that the distribution can commence in earnest.

Nigerian Products To Saturate Chinese Markets - Ambassador

Chinese Ambassador to Nigeria, Cui Jianchun, affirmed that Nigerian products and commodities will be readily available in the Chinese market within the next few years as efforts between China and Nigeria to make this a reality are yielding. The Ambassador made this disclosure on Saturday 3rd of January 2023 at a temple fair held in Abuja to celebrate the approaching Chinese Lunar New Year, which marks the beginning of the Year of the Dragon in the 12-year cycle of the Chinese Zodiac, set to occur on Feb. 10.

Presidency To Merge EFCC, ICPC, Others

The Minister of Information and National Orientation, Mohammed Idris, disclosed to pressmen after Monday’s Federal Executive Council (FEC) meeting on Monday, 26th February 2024, that the federal government (FG) is considering merging the nation’s top three anti-corruption agencies—the Economic and Financial Crimes Commission, EFCC, the Independent Corrupt Practices and other Related Offences Commission, ICPC, and the Code of Conduct Bureau.⁣

Inflation: Customs Increases Exchange Rate For Cargo Clearance To N1,356.883/$1.

The Central Bank of Nigeria (CBN), has approved an increase in the import duty rate by 43%. The exchange rate its now to be adjusted from N951.941/$1 to N1,356.883/$1. Experts have projected that prices of imported goods and services will increase, thereby, fueling inflation. The Nigeria Customs Service levies duties on imported cargoes before they are cleared from the ports. These charges vary from 5% to 35% based on the harmonized commodity and coding system (HS code). Ever since the CBN unified the exchange rate market in June last year, the country has been bedeviled with an exchange rate crisis. Market forces have been allowed to dictate the value of the naira, resulting in a depreciation of over 100% in its value. Prior to the CBN’s policy change in June, the naira traded at an average of N460/$.

N30bn Food Crisis Intervention: Makinde Chides Akpabio, Labels Senate President A ‘Liar’

Oyo State governor and Vice Chairman of the Nigerian Governors’ Forum, ‘Seyi Makinde, has declared that there is no truth in the claim by the President of the Senate, Godswill Akpabio, that states of the federation got additional N30 billion each outside of their statutory revenue allocations, to address the food insecurity challenges in their states.

Labour Demands N400K As New Minimum Wage

The organized labour union has submitted $300 (N436,500) as the new minimum wage for Nigerian workers before the Federal Government. The congress said the proposed N436,500 was due to the fall in the value of the naira against the dollar.  Comrade Benjamin Anthony, Chairman of the Trade Union, stated this during the joint meeting of the National Public Service Negotiating Council, JNPSNC.  He made this proposal at the 2023 meetings of the Separate and Joint National Public Service Negotiating Council held in Goshen City, Nasarawa State. 

Cement Manufacturers Agree Downward Review Of Price

Cement manufacturers have agreed to bring down the price of the product from N10,000 to between N7,000 and N8,000 per 50kg provided some conditions are met by the Federal Government. The decision was reached at a meeting convened by the Minister of Works, Engr David Umahi.

Reps Resumption: Security, Foreign Policy, Others To Dominate Deliberations

As the Green chamber resumes for full legislative business today, the increasing security challenges and consistent call for community-led policing structure in the country, including foreign policy have been highlighted to take the front burner for deliberations at the floor of the House of Representatives. This was disclosed by the Chairman, House Committee on Media and Public Affairs, Hon. Akin Rotimi, in a statement titled: ‘House resumption: Key issues expected to shape second half of legislative year’, made available to Parliamentary Correspondents.

Ogranized Labour Issues 14-Day Strike Ultimatum To FG

Nigeria Labour Congress (NLC) and Trade Union Congress of Nigeria (TUC) have declared a 14-day notice of strike to the Federal Government for failing to implement the 16-point agreement reached on October 2, 2023. Rising from a meeting in Abuja, the due in a statement jointly signed by NLC and TUC Presidents, Comrade Joe Ajaero and Comrade Festus Osifo, said that non-implementation of the agreement by the Federal Government has deepened mass suffering, adding that it is a show of bad faith.

Unemployment Rate: Two Million Workers To Lose Jobs In 2024 – ILO

The International Labour Organization, ILO, has predicted that about two million workers in the world may lose their jobs in 2024, as the global unemployment rate will raise from 5.1 per cent in 2023 to 5.2 per cent.