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President of the Nigeria Labour Congress, Joe Ajaero, has advised President Bola Tinubu to dialogue with the leadership of the groups planning to stage protests over the prevailing hardship in the country for talks, as it is their right to protest if they so wish.

Ajaero, in a statement he crafted personally and sent to the media in Abuja on Monday, said the truth is that millions of Nigerians are angry about the state of the national economy.

According to the NLC boss, a situation where most Nigerian families are forced to eat one miserable meal a day, whereby eating from the dustbin is now seen as a luxury, calls for a serious intervention by government.

While corroborating a recent country living standards index assessment by the National Bureau of Statistics, NBS, which established that about 133 million Nigerians live below extreme poverty lines, Ajaero said the International Rescue Committee, IRC, posits that in the first three quarters of 2024, about 32 million Nigerians have been exposed to acute hunger.

In his words, when these statistics are added to the millions that are being recruited into the armies of the unemployed and underemployed Nigerians, one can easily situate the hardship, pain, frustrations and despair that many Nigerians are going through right now.

He said: “The truth is that Nigerians have been hard pushed and super pressed right against the walls of deep deprivation and acute want.

It is, therefore, condescending and dismissive to describe the daily brutish ordeal that Nigerians are going through as sponsored political dissent. Even if it is so, it is still within the confines of citizens’ rights to protest on political grounds.

“Just that the current unease in the country does not need political motivation to spark and splurge. All that the hurting citizens demand from their government is a listening ear and an empathetic heart. Maybe that is what the organisers of the protest are looking for, given their continued notices on different social media platforms.

“It is very difficult to tell a Nigerian who has lost his or her job due to the current economic downturn to maintain their cool. It is very tough to advise a nursing mother who is unsure of the next meal for her suckling child to be at ease. It is a herculean task to demand patience from a youth who has been out of school for the past six years without a job and is burdened with aged parents to cater for.”

The NLC President said that during these very difficult times, the right of Nigerians to complain must be fully respected. The organised labour movement, led by the Nigeria Labour Congress, has had cause in recent times to protest against the crushing suffering in the land brought about by the harsh economic policies of government including the astronomical hike in the price of refined petroleum products, the increase in the cost of electricity and the unavailability of the same, the unconscientious raise and duplication of user access charges to most public utilities, including hospital treatment, water, waste disposal and a general spike in the cost of living.

Sounding a note of warning to the Federal Government, he said it is the well-considered position of the Congress that bellicosity and hostility towards the protesters and other aggrieved Nigerians do not offer any tangible remedy either to the pain endured by the populace or the frustrations of having so little in a country where a few privileged persons are living in obscene luxury, especially at the expense of the majority.

His words: “As the date for the widely reported national protest looms, the Nigeria Labour Congress urges President Bola Ahmed Tinubu to invite the leadership of the protest movement for discussions on their grievances.

“These are dire times. Nigerians are angry. The times require government to “jaw-jaw” and not “war war” with Nigerians. The truth is that you cannot smack a child and, at the same time, ask the child not to cry. A stitch in time might still save nine. Solidarity forever.”

The FCT Commissioner of Police, Bennett Igweh, has called on residents and indigenes not to partake in the nationwide protest.

Some groups and citizens had scheduled a nationwide protest for August 1 in response to the economic hardship in the country.

However, the FCT CP, while speaking with journalists in Abuja on Monday, urged residents to shun the protest.
He stated that the police have made significant efforts to ensure security in the FCT, adding that the protest could jeopardise it.

Igweh said, “I want to appeal specifically to the residents and indigenes and everybody in the FCT. Please, lions do not destroy their dens. You cannot see a lion who destroys its den. No, I would not like you to join this protest. I plead with you because we have worked hard to ensure your safety.

“We have fought those people outside Abuja. We have been to Kaduna, Nasarawa, and Niger to fight criminals so that you can be safe. I have lost men. Last week alone in Gidango, I lost two policemen. The other day, I lost two more. Let our loss pay for the protest. I want to plead with you.

“We don’t need you to be in the streets before somebody will say they are trying the police’s might. Or you will say, you will do this, you will do that. Please, please, don’t destroy where you are living.”

Igweh added that the government was doing its best by providing good roads.

“If you check, the government has provided good roads. Whether it’s from the minister of FCT or the president, check the streets in FCT, from Wuse to anywhere you can check, even in the hinterlands.

“They are trying their best. I don’t need to talk to anybody, but I’m saying it because we have been in the FCT. We know when there are changes. There are changes now in the FCT.

“And we don’t want miscreants outside the FCT to come and start destroying them. We will go back to square one where we were before. I plead, I beg of you, do not join this protest,” he added.

He urged the FCT residents to ensure the nation’s capital remains safe by shunning the protest.

“Let us continue collectively to make the FCT safe. Let them go and do what they want to do. But not with us.

“Act maturely. Act maturely. Act like people who appreciate. Even the losses we have suffered to ensure your safety. Use it to appreciate us. If you do this, we will be happy. We will continue to provide security for you. God bless all of you,” he said.

Nigerian workers under the aegis of All Workers Convergence (AWC) have declared that anyone who is kicking against the planned protest against hunger in the country is an enemy of the people.

AWC made this declaration via a statement signed by its National Coordinator, Comrade Andrew Emelieze and made available to DAILY POST on Monday.

DAILY POST reports that a planned protest across the country has been fixed to start on 1st August.

Some individuals and groups have been kicking against the planned protest.

The AWC, in its reaction, described protest against bad governance, hunger and insecurity as a legitimate right of the people.

The workers’ group maintained that anyone who is kicking against the planned protest is an enemy of the people.

According to the group, the protest became necessary in view of the challenges Nigerians are currently passing through at this period.

It noted that the protest is a revolt against hunger and a rebellion against hardship.

The statement read, “We have been calling for protest and we shall continue to call for protest until the system works for the public good. We are in full support of calls by Nigerians for massive protest inorder to end hunger, hardship and bad governance in Nigeria.

“In a situation like ours in Nigeria, protest becomes a collective duty. It is however, antisocial not to participate in protest.

“Our people have lost hope in the system. All our able-bodied citizens are either leaving or planning to leave the country. Our people are being daily strangled by bad governance. Our government keep telling us the same old story.

“While the mass majority of our people pass through hardship, our rulers and a very few are immersed in unimaginable wealth and wastage of national resources.

“We will not sit down and continue to see things get worse by the day. Our leaders have been making mockery of governance and certainly we cannot continue like this.

“Governance under Tinubu has brought untold hardship to our people. Everything is now upside down. It appears governance under President Bola Ahmed Tinubu has collapsed.

“We the Nigerian workers support the call for national protest against hunger and bad governance. Protest everywhere is a fundamental human rights. Protest everywhere is lawful. Protest is not a crime. Protest is a duty of all citizens. We shall protest, no going back. We salute the courage of our people as we all continue to mobilise for actions towards the the day.

“This protest is a revolt against hunger and a rebellion against hardship. Our people are only trying to resist deprivation. This is a revolution towards the genuine transformation of Nigeria.

“Our people have suffered enough. Our people have made up their minds to arrest the situation. We are going ahead with the planned protest.

“Anybody against this call for protest is an enemy of the people. It is time to emancipate Nigeria from corruption, bad governance and exploitation. We call for synergy among all the organisers of this protest. We shall overcome. No retreat no surrender.”

Mynd44 Nlfpmod

The Nigerian government said the era of buying Premium Motor Spirit, known as fuel between N750 to N1000 per liter, is over as it will commission 30,000 Compressed Natural Gas powered vehicles in the next 90 days.

The Project Director and Chief Executive Officer of the Presidential Compressed Natural Gas Initiative, Michael Oluwagbemi, disclosed this during the Park to Park CNG Mobilisation program held at the Ojota Park in Lagos on Saturday.

He said the initiative is expected to gulp N36 billion for 30,000 CNG conversion kits for distribution free of charge nationwide within the period.

The kits and the conversion costs were valued at the rate of N1.2m per vehicle, making a total of N36bn within the next three months.

He stressed that the move was to ensure the adoption of CNG as an alternative fuel for transportation.

“Today, we are here with conversion kits. We have bought over 30,000 of these kits, mainly for distribution in the next 90 days.

“The President has told us that this is not just to end with 30,000 kits, the target is one million kits. We want to make sure all of you can benefit from this government initiative,” he stated.

“The era of buying N750, N800, or N1,000/liter fuel is over. We are not doing that again. We will start using the gas under our feet so that we can buy it at N230/kg,” he stated.

Recall that President Bola Tinubu had ordered all Ministries, Departments and Agencies to procure CNG-powered vehicles as palliative to ease the impact of fuel subsidy removal.

Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has declared that the nation’s economy will hit $1 trillion economy by 2030.

Cardoso made the declaration on Friday during his presentation on first half-year review of the Bank’s activities in 2024 before the Senate Committee on Banking, Insurance, and Other Financial Institutions.

Affirming the apex bank’s commitment to implementing policies that foster sustainable growth in the financial markets, the CBN Governor also assured of his determination to foster overall economic stability.

Cardoso told the lawmakers that since assuming duty in October 2023, the Bank’s management had concentrated on stabilising the economy, restoring confidence in financial markets, and establishing a foundation for sustainable growth.

According to him, the resilience of the Nigerian economy in the first half of 2024, gave a growth rate of 2.98% in the first quarter, up from 2.31% during the same period last year.

He emphasised that the Services sector was the main economic driver, contributing 58.04% to GDP with a growth rate of 4.32%. He noted that the Industrial sector also showed improvement, achieving a growth rate of 2.19%..

On the persistent inflationary pressures, with headline inflation rising from 29.90% in January to 34.19% in June 2024, he noted that the pace of monthly increases had moderated, suggesting the effectiveness of the Bank’s anti-inflationary measures.

He also highlighted the significant narrowing of the spread between official and BDC rates, indicating successful price discovery and reduced arbitrage opportunities.

Part of the strong indicators for the growing economy according to him, is the notable increase in external reserves, largely attributed to receipts from crude oil-related taxes and third-party payments.

“The ongoing recapitalisation efforts in the banking sector are focused on enhancing financial stability and driving progress toward reaching a $1 trillion economy by 2030,” he said.

He added that the capital adequacy ratio remained strong at 12.2%, aside the industry liquidity ratio which has also increased to 46.2%, and the non-performing loan ratio fell to 3.8%, reflecting enhanced liquid assets and better risk asset quality.

He further outlined key policy measures the Bank had implemented to tackle domestic macroeconomic challenges, including raising the policy rate to 26.25%, increasing Cash Reserve Ratios, normalising Open Market Operations, and adopting Inflation Targeting as a new monetary policy framework.

Senator representing Lagos East and Chairman of the Committee, Senator Adetokunbo Abiru, lauded the CBN Governor and his team for their efforts to stabilise the economy since taking office.

The Coalition of Northern Groups (CNG) has knocked the monetary policy committee of the Central Bank of Nigeria (CBN), describing it as the worst since Nigeria’s return to civil rule in 1999.

Briefing newsmen on Friday in Abuja, Comrade Jamilu Aliyu Charanchi, National Coordinator of CNG, said in response to the current hardship facing Nigerians, the government “appears” to be adopting a trial-and-error approach to the economy.

This, Charanchi said, had resulted in further deterioration and exposing people to avoidable hardship.

Quoting data from the National Bureau of Statistics (NBS) and others, he said over the past year, key economic indices had worsened with no solutions in sight.

He said: “Empirical data from NBS and others reveals that over the past year, key economic indices have worsened with no definitive and evidence-based solutions in sight.

“In this dire situation, instead of providing relief, the Monetary Policy Committee (MPC) announced an increase in interest rates, which will further devastate the economy and diminish the prospects for job creation.

“The outcome of the MPC economic policies is a clear manifestation that President Tinubu’s economic team is the worst since Nigeria’s return to civil rule in 1999.

“The team lacks coordination, focus, foresight, and a clear understanding of the workings of the Nigerian economy. The anti-people policies of the government only enabled the few elites to primitively acquire wealth, while the vast majority of citizens continue to languish in deep poverty.”

Former Vice-President Atiku Abubakar says the national assembly is becoming an “enabler of executive recklessness”.

In a post on X on Thursday, Abubakar condemned the removal of Ali Ndume, senator representing Borno south, as the chief whip of the senate.

On Wednesday, Tahir Monguno, senator representing Borno north, took Ndume’s position following a request by Abdullahi Ganduje, national chairman of the All Progressives Congress (APC), and Ajibola Basiru, national secretary of the party.

Ndume has been critical of the government over the state of the nation with his recent claim that the administration of President Bola Tinubu is populated by kleptocrats.

Reacting to Ndume’s removal as the senate chief whip, the former vice-president alleged the Tinubu-led administration is clamping down on people speaking truth to power.

“In the evolution of systems of government, a major concern for thinkers was a governmental framework that will reduce the highhandedness of the executive arm of government,” he wrote.

“It was thought, and rightly so too, that a participatory approach to governance, such that will make the government derive its legitimacy from the people will better serve the interest of the masses.

"And thus, to make sure that the executive does not go overboard in the application of its powers, the legislative arm of government was conceived as a means of protecting the people from the authoritarian tendencies of wielders of state powers.

“Regrettably, however, the democracy in Nigeria in the current administration of President Bola Tinubu has become an anathema to that general principle of democracy as providing primary protection for the people against executive excesses.

“This ugly tendency is being manifested by the steady posturing of our National Assembly, especially the Senate, of taking a reverse course in its core function and becoming a puppet in the hands of the President.

“It is uncharitable that whenever members of the Senate stand on the floor of the red chamber to perform their statutory duty of calling the executive to order, they are immediately reprimanded for so doing.

"When Senator Abdul Ningi called attention of the country to the incident of budget padding in the 2024 Appropriation bill, rather than calling for a thorough investigation into the observation, the reaction of the Senate was to hand him a suspension.

“Today, the people of Nigeria are victims of ambiguous budget framework upon which appropriations for the current fiscal year are hinged in the face of a multiplicity of appropriations.

“Only yesterday, Senator Ali Ndume called for the President to wake up to his responsibilities and provide succour to address the biting hunger and poverty in the country. Ironically, the response of the senate to his patriotic warning is to relieve him of his principal office as the Chief Whip of the Senate.

“Also, despite persistent solicitations that government put its priorities on cancelling the excruciating hardship in the land and suspend the idea of spending scarce resources on the purchase of new aircraft for the presidential fleet, the Senate took a stand against the people and ignored the voices of altruism by decorating the President with controversial purchases of an aircraft and a yacht amidst the worst material conditions of the average citizen in the history of our country.

“We are, therefore, beginning to see a pattern in which the National Assembly has become an enabler of executive recklessness, and the concerns of the people stand in the nadir of priority list of the legislature. This emerging reality must stop.”

Abubakar said the nation’s democracy is being “compromised” by an “unholy alliance” between the executive and the legislature and “portends a dictatorship that will worsen a lot of the people”.

President Bola Tinubu on Thursday explained why he had to intervene in the negotiations for the new national minimum wage.

He said he considered the economic challenges faced by many Nigerians and the urgent need to provide relief.

This is outlined in a statement by Ajuri Ngelale, Special Adviser to the President (Media & Publicity).

In a meeting with the leadership of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) at the Presidential Villa in Abuja, the President increased the federal government’s offer on the national minimum wage from N62,000 to N70,000, with an assurance that it will be reviewed after three years, instead of five years.

According to the statement, President Tinubu told the Labour leaders: “I have heard all your presentations. You came here with the intention to secure something on behalf of your members.

It has been tough globally. And if you review my track record, I have never been found wanting in addressing the problems of workers. I belong to the people and to all of you in leadership. Without you, this job is not fulfilling.

“You have challenged the leadership’s thinking, and we have reviewed the position. I have consulted widely, and when the tripartite committee submitted their reports, I reviewed them again and began to think and rethink.

“Last week, I presented the proposal to you because we have a timeline. We have a problem, and we recognize that you have a problem too. We are in the same economy, in the same country. We may have different rooms, different addresses, and different houses, but we are members of one family that must care for each other.

“We must consider the parameters of the situation. Here, I have a speed limit, and I must pay attention to traffic warnings: slippery when wet, curved roads, and be careful to avoid accidents. That is why I called this meeting today.

“We are driving this economy together. Let us agree on a review period of three years. Two years is too short. We affirm three years. We will review it.

“I am moving beyond the tripartite committee. I am pushing forward, considering the review we have done. No one in the federal establishment should earn less than N70,000. So, we will set the benchmark at N70,000.”

President Tinubu explained that renewing the hope of Nigerians involves providing infrastructure that will improve their livelihoods and create an inclusive economy in which everyone can participate and benefit.

He said the government was committed to reducing the cost of transportation with the introduction of Compressed Natural Gas-powered buses, which will be cheaper and more efficient. He also assured the labour unions that buses will be deployed across the country.

The President added that the entitlements of members of the Senior Staff Association of Nigerian Universities (SSANU) and the Non-Academic Staff Union of Universities and Allied Institutions (NASU) would be considered, urging the Ministries of Finance and Budget & Economic Planning to explore the possibilities of clearing the backlog.

The statement noted that, at the meeting, the Secretary to the Government of the Federation, Senator George Akume, thanked the President for his consideration of the issues as the “Father of the Nation” and for scheduling two meetings to resolve the initial impasse.

“Mr. President, at the tripartite meeting, and in the resolutions of the government, Organized Private Sector, and labour unions, we were all united as one family to promote and grow our economy and deepen our democracy, to the benefit of all. That is essentially what we are saying today. We have a listening President,” the Secretary to the Government of the Federation said.

The President of the Nigeria Labour Congress (NLC), Comrade Joe Ajaero, and the President of the Trade Union Congress (TUC), Comrade Festus Osifo, thanked the President for hosting two meetings on the review of the national minimum wage.

According to the statement, the two labour leaders acknowledged that, at the last meeting, the President had rescheduled an official trip to attend the second meeting.

The labour leaders also expressed their appreciation to the President, applauding him for his clear commitment to the welfare of Nigerian workers.

The landing cost of Premium Motor Spirit, also known as petrol, was N1,117/litre as of Tuesday, July 16, 2024, the Major Energies Marketers Association of Nigeria announced on Wednesday.

MEMAN disclosed this during a webinar with journalists on Wednesday.

The association revealed that the landing cost of diesel was N1,157/litre, while that of aviation fuel was N1,127/litre.

The PUNCH reports that the N1,117 landing cost of petrol is far above the pump price of the product in Nigeria.

At the moment, filling stations operated by the Nigerian National Petroleum Company Limited and those of the major marketers sell PMS at between N617/litre and N660/litre, while independent marketers sell for N700/litre or more.

NNPC, the sole importer of petrol into Nigeria, has consistently denied subsidising the cost of PMS but refused to disclose the landing cost of the product.

Our correspondent reports that the revelation from MEMAN is almost the first from marketers in the industry as the landing cost appears to have been shrouded in secrecy by the importer of PMS.

MEMAN’s Executive Secretary, Clement Isong, said the costs were obtained from independent energy price benchmark providers.

The association maintained that it would release similar information regularly to keep the masses informed.

Recently, independent oil marketers accused private depot owners of hiking the ex-depot price of petrol from N630 to N720/litre.

An expert in the energy sector, Prof Wumi Iledare, told our correspondent in an interview that the cost of PMS in Nigeria was far below the international price, considering the price of diesel.

“The gap between the cost of diesel and petrol in Nigeria is much. It is never like that all over the world. That means something is wrong.

“I don’t know if NNPC is paying subsidies or not, but somebody is absorbing the difference. You can call it under-recovery or subsidy, but the price of petrol today does not reflect the market cost of producing a litre of petrol,” he disclosed.

Iledare added that with the current exchange rate, the price of petrol should not be less than 80 per cent of the price of diesel.


Corroborating this, a Professor of Economics at the University of Ibadan and President of the Nigerian Economics Society, Adeola Adenikinju, said, “The current price of PMS is being subsidised by the government. The government buys at higher rates and sells to us at subsidised rates. That is what they call under-recovery.”

The International Monetary Fund recently warned the Nigerian government to remove what it called implicit fuel and electricity subsidies.

In a report published recently by the IMF, the organisation told Nigeria that the subsidies would guzzle three per cent of the nation’s Gross Domestic Product in 2024 as against one per cent in the year before.

President Bola Tinubu declared the removal of fuel subsidies during his inauguration on May 29, 2023.

IMF noted, however, that “adequate compensatory measures for the poor were not scaled up promptly and subsequently paused over corruption concerns. Capping pump prices below cost reintroduced implicit subsidies by end-2023 to help Nigerians cope with high inflation and exchange rate depreciation.”

However, the NNPC and the Federal Government have vehemently denied subsidising the current price of PMS.

The Senate on Wednesday backed President Bola Tinubu’s requests to amend the 2024 budget by N6.2 trillion and to amend the 2023 Finance Act to “impose and charge windfall tax on banks” for their foreign exchange operations.

The budget amendment bill, which passed second reading, made a provision of N3.2tn for capital projects under the President’s ‘renewed hope infrastructure projects.’

It also made a provision of N3tn for recurrent expenditure to capture the proposals for new national minimum wage expected to be laid before the National Assembly soon.

But, Deputy President of the Senate, Sen. Barau Jibrin, who presided over the session, kept insisting that the amendment bill was not a 2024 supplementary budget.

“It is an amendment, not a supplementary budget.

“It is just to move funds from here to there and other such things”, Jibrin interjected as senators debated the two bills on the floor in Abuja.

He also stated that the two bills were meant to address critical projects and the minimum wage.

While leading the debate on the bills, Senate Leader, Sen. Opeyemi Bamidele (APC, Ekiti-Central), said among the renewed hope infrastructure projects were the Lagos-Calabar coastal road and the Lagos-badagry expressway.

On the minimum wage, Bamidele explained that there was no provision for it in the 2024 budget, a reason it became necessary to plan for it before the bill was brought to the legislature.

He also said the Finance Act, 2023 was being amended to provide funding for the amendments and the minimum wage.

Chairman, Senate Committee on Finance, Sen. Sani Musa (APC, Niger-East), in defending the plan to tax the profits of banks, said the banks had made more money lately, taking advantage of the administration’s foreign exchange policies.

He stated, “The end-of-year reports of the banks tripled, despite the high interest rates. How are they making this money?

“They should be taxed to contribute to infrastructure development in this country.

“I believe taking a small percentage out of that profit to contribute to our economic development is not bad.

“I am in full support that we should look at the books of the banks in terms of their profitability in foreign finances.”

Sen. Adetokumbo Abiru (APC, Lagos-East), who chairs the Senate Committee on Banking, Insurance and other Financial Institutions, also gave his full support to the amendment of the budget and the Finance Act.


“The profits of the banks must have come from the liberalisation of the foreign exchange market and the policies of the current administration.

“So, it’s not out of place to ask the banks to contribute some funding to the running of our economy”, Abiru added.

However, Sen. Seriake Dickson (PDP, Bayelsa-West), cautioned against what he termed the hasty amendments to the Finance Act, saying that the Senate must not pass laws that would later be unimplementable.

He argued that a government must not continue “to tax our citizens, whether corporate or otherwise.”

The former Bayelsa governor added, “We are talking about taxing the profits of banks, that will be a serious issue. We should step down the bill and have the benefits of expert opinions on it.”

Dickson recalled how the National Assembly passed a similar bill for more taxes by telecommunications operations through the Office of the National Security Advisor, adding that though the law was signed, it had to be quickly withdrawn due to public outcry.

But, voting upon conclusion of the debate, the majority of senators endorsed the passage of the two bills for second reading.

President Bola Ahmed Tinubu has given marching orders to the Chief of Defence Staff(CDS), General Christopher Musa to curb the menace of crude oil theft and vandalism in the Niger Delta region of the country in the shortest possible time.

Tinubu, said the order had become necessary as oil theft had become a national issue that needed to be surmounted to boost oil production in the country.

The Group Executive Officer of the Nigerian National Petroleum Company Limited(NNPCL), Mele Kyari, made this known in an interview with journalists at the Defence Headquarters in Abuja, after a meeting of all security and intelligence agency heads convened by the Chief of Defence Staff.

Kyari, while noting that achieving the desired economic stability would be impossible without curbing oil theft and other crimes in the Niger Delta region, said, “We are here to engage with the CDS based on the directive of the president.

He said “The president has directed the CDS to take control of the crisis we are having in the Niger Delta operational area. Oil theft and pipeline vandalism have become a national issue, the president has directed the CDS to contend this within the shortest possible time so that we can restore national production to the level the president and the country is expecting.

“ To do this, he needs the coordination and cooperation of all armed forces, the police, the DIA, the DSS among others. It is the survival of our country that is at stake today. Without restoring oil and gas production, we cannot have the economic stability that we desire. The president is clearly focused on this to deliver value to our country. It is impossible to do this without settling the crisis around our operational areas.

Speaking further, the NNPCL boss said “We are already seeing progress, we are seeing substantial value that is being created by the coordination but we are very convinced that a solution is in sight.”

Also Speaking, the Chief of Defence Staff General Christopher Musa, vowed to eliminate all acts of vandalism and other criminal activities throughout the South-South region.

He said, “The truth about it is that whatever is happening in the South-South has been ongoing for such a very long time. And we feel it is high time that it is stopped. What we are promising Nigerians is that henceforth, the entire South-South will be cleared of any acts of vandalism, or criminality within the general area.

“As we said, the President has given us a mandate to ensure that we secure the entire South-South and to enable NNPC and others to carry out their tasks so that we can have improved production. We know that Nigeria relies so much on what we produce. And so we want to use this medium to appeal to the communities, to have an understanding.”

Gen. Musa while calling on the host communities to trust and give the security agencies the needed support, said, the operations of the security agencies would be harmonised to achieve the task given to him by the president.

“Yes, we know trust has been a problem. But they can trust us, they can trust the government, that we want to do things differently. Everyone will be carried along.

“Everyone has a role to play. It is not only for the security agencies alone. We need the communities to understand that pipeline vandalism and all the hazards being caused are also affecting them directly.”

ruggedboy01:
True, even helinues doing gra gra over a protest is doing that on an empty stomach, his frustration is out of hunger

The International Monetary Fund (IMF) has reduced its forecast for Nigeria’s economic growth to 3.1 percent in 2024 — down from a 3.3 percent projected in April.

The downgrade is 0.2 percentage points below the prior forecast.

In its July 2024 World Economic Outlook released on Tuesday, IMF said a lower-than-expected activity in the first quarter (Q1) of the year impacted decisions for the downgrade.

The IMF, however, retained a 3.0 percent forecast for Nigeria’s economic growth in 2025.

NIGERIA AND SUB-SAHARAN AFRICA

Revealing further, IMF downgraded its forecast for sub-Saharan Africa economic growth in 2024 to 3.7 percent — from the April forecast of 3.8 percent.

“The forecast for growth in sub-Saharan Africa is revised downward, mainly as a result of a 0.2 percentage point downward revision to the growth outlook in Nigeria amid weaker than expected activity in the first quarter of this year,” the Bretton Woods institution said.

However, IMF increased its forecast for economic growth in the region for 2025 to 4.1 percent — from 4.0 in its April projection.

GLOBAL PROJECTION

IMF retained its global economic forecast at 3.2 percent in 2024 and 3.3 percent in 2025.

“Growth is expected to remain stable. At 3.2 percent in 2024 and 3.3 percent in 2025, the forecast for global economic growth is broadly unchanged from that in April,” the international lender said.

"Among advanced economies, growth is expected to converge over the coming quarters.

“In the United States, projected growth is revised downward to 2.6 percent in 2024 (0.1 percentage point lower than projected in April), reflecting the slower-than-expected start to the year.

“Growth is expected to slow to 1.9 percent in 2025 as the labor market cools and consumption moderates, with fiscal policy starting to tighten gradually. By the end of 2025, growth is projected to taper to potential, closing the positive output gap.”

Also, IMF forecasted that global inflation will continue to decline.

“In advanced economies, the revised forecast is for the pace of disinflation to slow in 2024 and 2025,” the Bretton Woods institution said.

“That is because inflation in prices for services is now expected to be more persistent and commodity prices higher.

"However, the gradual cooling of labor markets, together with an expected decline in energy prices, should bring headline inflation back to target by the end of 2025.

“Inflation is expected to remain higher in emerging market and developing economies (and to drop more slowly) than in advanced economies.”

IMF said inflation is already close to pre-pandemic levels for the median emerging market and developing economy partly due to falling energy prices.

Socio-political activist and former presidential aide Reno Omokri has alleged that the 2023 presidential candidate of the Labour Party, Peter Obi, does not believe in the party’s manifestos.

Omokri claimed that Obi was more attuned to the Peoples Democratic Party, PDP.

Posting on X, Omokri wrote: “I will support President Tinubu’s policies that were also in the Peoples Democratic Party manifesto. I will do so proudly and patriotically.

“Even Peter Obi was put on the 2019 PDP ticket by the grace of God using my efforts. And he cannot deny it because I am a meticulous record-keeper and [I] kept paper records. Peter Obi does not even believe in the official Labour Party manifesto. He is more politically attuned to us in the PDP.

“During the elections, politicians and their strategists will attack each other. It is all part of the way politics is played. After elections, we move from battleground to common ground.

“There are no permanent friends or enemies in politics. But with death threats to my child and with their leader keeping quiet when it was brought to his attention, there is permanent enmity.

“Peter Obi will NEVER be President of Nigeria, and we will fight to ensure that even if he returns to the PDP, he will NEVER get on our ticket. But beyond that, we are moving on with one Nigeria.”

The Arewa Youth Consultative Forum, AYCF, on Monday condemned the remark by the Coalition of North-East Elders Forum, CNEF, against the Senate Chief Whip, Ali Ndume following his criticism of President Bola Tinubu’s administration.

AYCF accused the CNEF of attempting to “suppress dissent and freedom of expression”.

Ndume had claimed that Tinubu’s administration is composed of “kleptocrats”.

He noted that the current administration is being led by the least competent and most corrupt individuals primarily focused on embezzling resources.

Ndume’s remark drew condemnation from the CNEF.

Reacting, the National President of AYCF, Yerima Shettima emphasized that while the remarks represent Ndume’s personal opinions, his right to express them is protected and should be respected.

In a statement he signed, Shettima said: “The attack from CNEF against Senator Ndume is vindictive, unwarranted, and an unacceptable affront to democratic principles of freedom and fair play.

“It is a brutal encroachment on his right to freedom of expression, safeguarded by various international treaties and conventions to which Nigeria is a signatory.”

The AYCF also voiced concerns over growing speculations that Ndume might be relieved of his position as Chief Whip of the Senate.

The group warned that any further attempt to breach Ndume’s fundamental right to hold differing views will be vigorously resisted and vehemently challenged.

“Any government that cannot be criticized is a liability,” stated Shettima, while urging the North-East elders to desist from their “indiscriminate attacks on Senator Ndume,” whom they referred to as an “eminent hero of the Northern youth.”

While the AYCF clarified that it does not currently favor protests, it stressed that Ndume’s observations regarding the current harsh realities faced by Nigerians are apt and timely.

The group urged the government to heed the senator’s observations for the benefit of all citizens and warned North-East elders against manipulating and politicizing security issues for their own gain.

“The observations raised by Senator Ndume should be heeded by the government, as they reflect the collective concerns of many Nigerians facing hardships,” the statement concluded.

The AYCF further expressed its commitment towards upholding democratic values and the right to freedom of expression, calling on all stakeholders to adopt a more tolerant and constructive approach to differing viewpoints.

The Federal Government is preparing a supplementary budget for the 2024 fiscal year to support the implementation of a new minimum wage for workers.

This was revealed by the Minister of Information and National Orientation, Mohammed Idris, at the end of the Federal Executive Council (FEC) meeting at the Stats House on Monday.

The development comes as part of ongoing efforts to address the Organised Labour’s concerns and establish a fair wage structure for all Nigerians.

Speaking after the FEC meeting presided over by President Bola Tinubu, Idris revealed that the government has directed the Ministry of Budget and National Planning to develop additional financial support for the 2024 budget.

This move aims to bridge any gap between the previously approved 2024 budget and the requirements of the proposed new minimum wage.

He explained that this would cover any differential or any gap that would exist in terms of what existed before the 2024 budget was approved.

He said, “now, you are also aware that last week, the Nigeria Labour Congress met the President. This, of course, was part of the consultation that the President has agreed.

“Recall that he had met the Organised Sector, he had also met subnationals after the tripartite committee on Labour had submitted its report.


“In order to ensure that there is a thorough analysis of the situation so that government would come up with a minimum wage that works for all Nigerians, federal government, the subnationals and the organised private sector.

“That was also discussed today. And government has also directed the Ministry of Budget to also come up with additional support for the 2024 budget, so that any differential or any gap that will exist in terms of what existed before 2024 budget was approved, a supplementary budget and also what the requirement is for now.

“So, government is working around the clock to ensure that it comes up with a minimum wage, like I said, that works for all Nigerians. At the end of the day, this of course will be submitted to the National Assembly so that you can have legislative backing.”

He also revealed that President Tinubu has been scheduled to meet with the NLC, Trade Union Congress (TUC), and their affiliates on Thursday.


The meeting is expected to be a crucial step in finalizing the new minimum wage proposal before it is submitted to the National Assembly for legislation.

Idris emphasised the government’s determination to resolve the wage issue, stating that government was working around the clock to ensure that it comes up with a new minimum wage that works for all Nigerians.

President Bola Tinubu says the assassination attempt on former US President Donald Trump is “distasteful and goes beyond the pale of democratic norms”.

On Saturday, gunshots were fired at Trump’s rally in Pennsylvania.

Trump was delivering a speech about how “the worst president in the history of our country took over” when the gunshots were fired.

Amid the shooting, the former president went down behind the speech podium before his security shielded him.

Moments later, Trump was taken away from the stage. During the process, he paused to pump his fist defiantly in the air.

Videos that appeared on social media showed blood on Trump’s ear.

Reacting to the incident in a post published via X on Sunday, Tinubu sympathised with the former US president, adding that violence has no place in democracy.

"The attack on former President Donald Trump is distasteful and goes beyond the pale of democratic norms. Violence has no place in democracy,” Tinubu wrote.

“I extend my sympathies to the former president and wish him relief.

“I also condole with the family of the deceased and those wounded and wish them a quick recovery.

“Nigeria stands in solidarity with the United States of America at this time."

Former Chief of Army Staff, Lt. Gen Tukur Buratai, has urged those wishing Nigeria disintegrate to perish the thought, predicting that the country would continue to remain a united nation.

Buratai spoke in Kuta, Osun State on Sunday at the 60th birthday celebration of Olowu of Kuta, Oba Adekunle Oyelude, an event attended by dignitaries that include; Ooni of Ife, Oba Adeyeye Ogunwusi, ex-president, Olusegun Obasanjo, ex-Osun State Governor, Olagunsoye Oyinlola among others.

The ex Army boss, who described Olowu Kuta as a detribalise Nigerian, who has shown love to people across all ethnic groups in the country, said those agitating that the country should disintegrate must be ready to carve out their own part and move it to the ocean.

Noting that the experience of civil war has taught Nigerians that agitation to divide the country would always fail, Buratai called for unity to further enhance Nigeria’s development.

“You know that Nigeria is one, unless you remove those people who are agitating, and drift (them) to the Atlantic. We will remain one Nigeria, anybody who wants to leave Nigeria should carry the part of the land and take it to the Atlantic; not within the Nigeria territory. It is very clear the level of integration.

“There are many Hausas here, there are many Yoruba and Igbo in the north. So, we should not allow politics to becloud our sense of unity and sovereignty.

“Anybody that says that he wants to leave Nigeria is a dreamer because we had bitter experience during the civil war. So it is not something that we will joke with,” Buratai said.

He advised Nigerians to embrace peace and focus on development, adding that the country should work more to further cement its unity by taking concrete action that would bring about development, and not by mere utterances.

In his remarks, Oba Oyelude, said he would continue to champion cause of unity and progress for Nigeria, and called on well meaning Nigerians to do for the country’s unity and progress.

President Bola Tinubu has reaffirmed his administration’s commitment to addressing food security concerns in the country and driving down the cost of living for the citizens.

He said the government’s recent decision to temporarily suspend tariffs on imported grains and other essential food items, a policy announced earlier in the week by the Minister of Agriculture and Food Security, were short-term measures to address the rising food prices across the country.


Speaking on Saturday during the public presentation of Chief Olusegun Osoba’s book, “My Life in the Public Eye” in Lagos, the President, who was represented by Vice President Kashim Shettima, in a statement by his spokesman, Stanley Nkwoch, noted that the measures were specifically aimed at tackling food shortages and improving affordability for consumers.

“We are taking steps to address food shortages by temporarily removing tariffs on imported grains and other food items,” President Tinubu stated.

He stressed that the action was part of a comprehensive strategy to enhance living conditions for all Nigerians.

While addressing short-term challenges, the President also reiterated the importance of long-term food self-sufficiency.

“We will continue to drive local production and ensure that we produce what we eat and use locally,” he added.

The President commended Chief Osoba, whom he affectionately referred to as “Aremo 1,” for his significant contributions to Nigerian journalism and politics.


President Tinubu noted Osoba’s role as a two-time governor of Ogun State and his important involvement in the National Democratic Coalition’s (NADECO), a coalition formed in 1994 in response to the annulment of the June 12, 1993 presidential election, which was widely believed to have been won by Chief M.K.O. Abiola.

The coalition’s primary goal was to pressure the military government, then led by General Sani Abacha, to relinquish power and restore democracy in Nigeria.

NADECO consisted of various pro-democracy activists, politicians, and civil society leaders. Notable members included Chief Anthony Enahoro, Chief Ayo Adebanjo and Chief Olusegun Osoba

“We owe him a debt of gratitude for his sacrifices,” President Tinubu said.

He encouraged other leaders to follow Osoba’s example by writing books to share their experiences and provide guidance for future generations.


The President also emphasised the importance of Nigeria’s diversity and unity, calling it a vital lesson for the nation, particularly during challenging times.

“As we work to overcome our current challenges, we must remember that unity and cooperation are essential,” Tinubu stated, urging Nigerians to support the administration’s efforts to improve living conditions.

As the event coincided with Chief Osoba’s upcoming 85th birthday, President Tinubu expressed gratitude for Osoba’s continued health and active lifestyle, wishing him many more years of good health.

Earlier, Senate President Godswill Akpabio described the celebrant as someone honoured by God with long life.

He said Chief Osoba has contributed a lot to humanity, adding that over the years, he has helped in shaping the future of democracy in Ogun State and Nigeria.

“We thank the celebrant for launching a book today. By putting his thoughts on paper, he has helped in mentoring the younger generation. His contributions to democracy and journalism are enormous,” he said.

Senator Akpabio called on Nigerians to support President Tinubu in his quest to deliver the dividends of good governance to all citizens.

Also, Secretary to Government of the Federation, Sen. George Akume, praised the laudable attributes of the celebrant, which he said are worth emulating.

Ogun State Governor, Dapo Abiodun, described the celebrant as a towering figure who has lived a life of service to humanity, thus attracting many chieftaincy titles and awards.

“He has made a mark in public service and journalism within Nigeria and beyond. His attributes are worthy of emulation and a reference point for our future generations,” he said.


The Governor added that Chief Osoba has contributed a lot to the socioeconomic development of Ogun State.

“We will continue to celebrate you, and I call on Nigerians to celebrate their leaders and those who have served them while they are still alive,” he added.

There were goodwill messages from former Secretary of the Commonwealth, Chief Emeka Anyaoku, business moguls Mike Adenuga and Aliko Dangote, as well as the Deputy Governor of Lagos State, Obafemi Hamzat.

Also present at the occasion were the Deputy President of the Senate, Jibrin Barau; Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun; Minister of Communications, Innovation and Digital Economy, ‘Bosun Tijani; Minister of Marine and Blue Economy, Adegboyega Oyetola; Minister of State for Environment, Dr. Ishaq Salako, among others.

The 2023 presidential candidate of the Labour Party, Mr Peter Obi, has said that Nigeria lacks courageous people who can speak truth to power.

Obi made this statement on Saturday, during the 10th anniversary of Alaigbo Development Foundation in Umuahia, Abia State.

He lamented that the country has an abundance of sycophants who tell leaders what they want to hear.

The former Anambra State governor, who recalled how he judiciously managed public funds while in office, also charged public leaders to use public funds for the people.

He further charged them to make people-centred policies and pursue programmes that promote public peace.

Obi blamed the woes of Nigeria on the avarice and insatiable quest for wealth among public officeholders.

He, therefore, challenged Nigerians to speak truth to power and stop hero-worshipping.

“What we lack in Nigeria is people who can tell you you are wrong when you are. Leaders are bound to listen to the people because the people put them in the office.

“Leaders must use public money for public purpose. When I was in public office, I used public money for public purpose. I made sure I used the people’s money for them.

“I did not spend any Kobo for personal gain. I didn’t take it, [I didn’t] owe pensions or gratuities. I did not owe any contractors. Now in private life, I can do whatever I like with my money,” Obi said.

Former Vice President Atiku Abubakar has urged governments at all levels to prioritise the approval and supervision of buildings to prevent a recurrence of Friday’s school building collapse in Jos, Plateau State.

Atiku gave the charge in the wake of the collapse of the two-storey building of Saints Academy, a secondary school in Busa Buji, Jos North.

The Plateau Commissioner for Information and Communication, Musa Ashoms, confirmed that about 200 students were trapped in the collapsed building.

Reacting, Atiku described the incident as tragic and heartrending.

The 2023 presidential candidate of Peoples Democratic Party (PDP) commiserated with those who lost loved ones in the incident.

“I am devastated by the tragic collapse of the two-storey secondary school building in the Busa-Buji area of Jos North Local Government Area, Plateau State, which claimed the lives of innocent students.

“It is even more heartrending that these students were writing exams when the disaster struck.

“My thoughts and prayers are with the families and friends of those who have lost their loved ones.”

Atiku charged government at all levels to to step up their building control functions to prevent a recurrence.

“As we grieve the loss of these precious children, let this tragedy serve as a stark reminder for governments at all levels to prioritise the approval and supervision of buildings to ensure their safety and integrity.

“A thorough investigation must be conducted, and those responsible are held fully accountable under the law,” he said.

President Bola Tinubu says a new minimum wage will be fixed after reviewing the “structure” of the wage bill.

Tinubu spoke on Thursday while addressing the leadership of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) during a meeting at the State House, Abuja.

Tinubu told the labour leaders that his administration prioritises the welfare of workers, adding that “society depends on the productivity of happy workers”.

“You have to cut your coat according to the available cloth. Before we can finalise the minimum wage process, we have to look at the structure,” Ajuri Ngelale, presidential spokesperson, quoted Tinubu as saying in a statement.

“Why must we adjust wages every five years? Why not two? Why not three years? What is a problem today can be eased up tomorrow.

“There is much dynamism to this process if we are not myopic in our approaches.

“We can take a surgical approach that is based on pragmatism and a deep understanding of all factors.”

On his part, Joe Ajaero, NLC president, said things are difficult for Nigerian workers, adding that there must be a balance between the living wage and the minimum wage.

Festus Osifo, TUC president, said the rising inflation in the country has eroded the value of the naira.

BACKGROUND

Over the past few months, labour unions, federal and state governments, and the private sector have been deliberating on a new minimum wage.

On June 3, the labor unions grounded the nation’s economy over the minimum wage dispute.

The NLC and TUC had proposed N494,000 as the new national minimum wage, citing inflation and the prevailing economic hardship in the country, while rejecting the federal government’s proposed N60,000 minimum wage offer.

On June 7, state governors under the aegis of the Nigerian Governors Forum (NGF), said a N60,000 minimum wage would prove unsustainable.

At the last meeting of the tripartite committee, organised labour rejected the N62,000 proposed by the government and lowered its demand to N250,000.

The federal government had asked the labour unions to demand a more realistic and sustainable wage.

Tinubu had also directed Wale Edun, minister of finance, to present the cost implications for a new minimum wage.

Mohammed Idris, minister of information and national orientation, said the presentation would form the basis of further negotiations.

Former vice president, Atiku Abubakar, has described Thursday’s judgment of the Supreme Court on financial autonomy for local government councils as a win for the country.

His reaction is contained in a statement he issued in Abuja where he posited that the ruling is a step in the right direction to enhance development across the country.

Throwing his weight behind the ruling, the presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election, said: “The judgment of the Supreme Court earlier today affirming fiscal autonomy to local government councils in the country is a win for the people of Nigeria.

“The court’s ruling is a step in the right direction and a major corrective action in greasing the wheels of national development across the country.

“The decision by the Federal Government to consolidate disbursements of local councils’ revenues into the state government accounts was a decision that was borne out of politics of hasty compromise.

“I align with the decision of the Supreme Court that the structure of the Nigerian government is portioned in three layers, and of these, the local governments should be centres of development.

“I also share the belief that fiscal autonomy to the local governments should not be limited to revenues from the Federation Accounts, but indeed, should apply to Internally Generated Revenue from the respective local government authorities.

“Many of our states, especially those in the ultra-urban areas with high-density economic activities, have become notorious in muscling local councils from generating revenue on items that border on motor parks, outdoor advertising, rents and many more.

“The verdict of the court is in tandem with the core functions of the Supreme Court as an arbitration court between and among governments.”

A bill seeking to create a new state in the south-east geopolitical zone has passed second reading at the house of representatives.

The proposed legislation, which is co-sponsored by three lawmakers from the region — Amobi Ogah (Abia), Miriam Onuoha (Imo), Kama Nkemkama (Ebonyi), Chinwe Nnabuife (Anambra), and Anayo Onwuegbu (Enugu) — scaled a second reading during plenary on Thursday.

The lawmakers are proposing to alter the 1999 Constitution to create a new state from Abia, Anambra, Ebonyi, Enugu, and Imo.

The new state will be known as Etiti, with Lokpanta as its capital.

The state will have 11 LGAs: Aninri, Awgu, Isuikwuato, Ivo, Oji-River, Ohaozara, Okigwe, Onuimo, Orumba north, Orumba south, and Umu-Nneochi.

In his legislative brief, Ogah said the bill seeks to address a “longstanding” issue of regional parity and administrative efficiency within the south-east.

“The establishment of Etiti state is not just a matter of administrative convenience but a step towards ensuring balanced regional development and effective governance,” Ogah said.


“It responds to the aspirations of the people of a very important region to this country and aligns with the principles of equity and inclusivity enshrined in our democratic ideals.

“Suffice it to say that it is a long overdue step in the right direction to foster equitable representation, enhance governance efficiency, and promote socio-economic development within the region.”

The bill was voted for when it was put to a voice vote by Tajudeen Abbas, speaker of the house.

The bill was read for the first time on July 2.

On Thursday, the senate also introduced a bill seeking to create Tiga, a new state, from Kano.

LEGISLATIVE HURDLES

The national assembly is currently amending the 1999 Constitution.

In January, Benjamin Kalu, deputy speaker of the house of representatives, said work on the amendment of the constitution would be completed in December 2025.

Requirements for state creation and boundary adjustments are among the most challenging provisions in a constitutional amendment process.

Section 8(1) of the constitution stipulates that a new state can only be created if it is supported by “at least two-thirds majority of members (representing the area demanding the creation of the new state) in each of the following, namely — “(i) the Senate and the House of Representatives. (ii) the House of Assembly in respect of the area”.

“(iii) And the local government councils in respect of the area is received by the National Assembly; (b) a proposal for the creation of the State is thereafter approved in a referendum by at least two-thirds majority of the people of the area where the demand for the creation of the state originated.

“(c) The result of the referendum is then approved by a simple majority of all the states of the Federation, supported by a simple majority of members of the Houses of Assembly.

“(d) The proposal is approved by a resolution passed by a two-thirds majority of members of each House of the National Assembly.”

No state has been created since Nigeria returned to democratic rule in 1999.

The Miyetti Allah Cattle Breeders Association of Nigeria (MACBAN) has expressed support for President Bola Tinubu’s decision to establish a Ministry of Livestock Development.

MACBAN’s president, Baba Othman-Ngelzarma, hailed the move as the right step toward unlocking the potential of Nigeria’s ‘trillion-naira’ livestock economy.

In a statement released on Tuesday in Abuja, Othman-Ngelzarma said the new ministry would create jobs across the livestock value chain and boost the Nigerian economy.

According to him, the development fulfills the long-standing hope of Nigerian pastoralists under Tinubu’s “Renew Hope Agenda.”

“With this development, MACBAN believes, the hope of the Nigerian pastoralists is now achieved under the Renew Hope Agenda.

“We as an association had for years been agitating tooth and nail to actulise the creation of a stand-alone ministry to modernise livestock production system in line with global best practices,” he said.

Othman-Ngelzarma pledged MACBAN’s support to the Federal Government in transforming livestock production into a foreign exchange earner and reducing farmer-herder conflicts.

The creation of the Ministry of Livestock Development was announced by President Tinubu during the inauguration of the Renewed Hope Livestock Reform Implementation Committee at the State House in Abuja. Tinubu, who chairs the committee, appointed Professor Attahiru Jega as deputy chairman.

The president identified opportunities in the livestock sector to include animal feed production and veterinary services. He expressed optimism that the new ministry would help develop the economy and provide opportunities for excellence while addressing conflicts between herders and farmers across the country.

The Vice-President Kashim Shettima, Secretary to the Government of the Federation, George Akume, and Chief of Staff Femi Gbajabiamila, were among those who attended the inauguration ceremony.

The House of Representatives’ Joint Committee on the arbitrary increase in the price of cement, on Tuesday, threatened to arrest the management of Dangote Cement if it fails to appear at its next hearing.

Recall that the legislative chamber had on May 7, 2024, issued a 14-day ultimatum to cement manufacturers to appear before its joint committee and make their submissions on the arbitrary increment of cement prices in Nigeria.

The Chairman, House Committee on Solid Minerals, Jonathan Gbefwi, gave the summon at a public hearing to investigate the arbitrary increase in the price of cement in Nigeria by cement manufacturers, organised by House Joint Committees on Commerce, Industry, Special Duties, and Solid Minerals in Abuja.

At the hearing on Tuesday, officials of the cement company were absent; a development that did not sit well with the committee.

The special panel while advocating for the downward review of cement prices, expressed worry that the cost of the product has become unaffordable to many Nigerians, given the current economic situation in the country.

It mandated the Cement Manufacturers Association of Nigeria and the Central Bank of Nigeria to appear before it in two weeks to deliberate on measures necessary to address the situation for the benefit of the people.

In a brief remark at the event, Gbefwi who represents Karu/Keffi/Kokona Federal Constituency, Nasarawa State on the platform of the Social Democratic Party accused cement manufacturers of making life difficult for the masses, smiling at the banks without empathy.

“They want to over-profit without any sense of empathy for the citizens that have given them this platform.

“On Dangote, my ruling is simple. The laws have given us the necessary powers but we owe you a duty of care. We are going to give you one more chance. We are going to communicate a date.

“Failure to comply with that date, a subpoena will be issued. A warrant of arrest will be given for you to make an appearance before the National Assembly. No single individual is bigger than the parliament of his country. No single Nigerian is bigger than the National Assembly”, Jonathan warned.