NEWS UPDATE- Abdulsalami, Sultan Of Sokoto Arrive Niger For Final Talks As Mali, Burkina Faso Deploy Fighter Jets
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Abdulsalami, Sultan Of Sokoto Arrive Niger For Final Talks As Mali, Burkina Faso Deploy Fighter Jets
A delegation of the Economic Community of West African States (ECOWAS) has arrived in Niger for a final attempt at diplomacy with the junta, to restore constitutional order to the country.The group was led by former Nigerian Head of State, General Abdulsalami Abubakar, and the Sultan of Sokoto, Muhammad Abubakar. They were received by the country’s Prime Minister, Lamine Zeine on Saturday. According to a journalist in Niger, the delegation was able to meet with the deposed President, Mohamed Bazoum, who was ousted from office when the military seized power last month. Bazoum was reportedly in good spirits, even though his electricity was still cut off. Prior to this, a previous ECOWAS delegation who tried to meet with Bazoum two weeks ago was denied access by the military. At the time, they were also denied a meeting with the leader of the coup, Abdourahamane Tchiani.
Today’s attempt at diplomacy by ECOWAS comes as Mali and Burkina Faso deployed warplanes to Niger after ECOWAS threatened to employ armed intervention to restore democracy in Niger. A report by the Niger Television station stated that the countries had deployed Super Tucano fighter jets. Mali and Burkina Faso had earlier indicated that they would support the junta in Niger should ECOWAS decide to employ violence to restore order in the country. Both countries are also under military rule. Niger’s junta came into power after staging a coup and ousting Bazoum on July 26, after which it appointed one of its generals, Abdourahmane Tchiani, as President. ECOWAS had given the junta a seven-day ultimatum on July 30, within which it had to stand down and restore Bazoum to his position as President. However, the ultimatum expired with little reaction from them.Recently, the junta revealed plans to prosecute Bazoum on charges of treason. ECOWAS swiftly cautioned the junta against that, describing the prosecution plans as a provocation.
BDC operators kick as CBN restricts forex trading
The Central Bank of Nigeria has announced operational mechanism for the Bureau De Change segment of the market to trade foreign currencies at similar rates obtainable on the Investor & Exporter forex window. It gave the directive to all BDCs and the general public in a circular number TED/FEM/PUB/FBC/001/007 dated August 17, 2023, titled, ‘Operational mechanism for Bureau De Change operations in Nigeria’, released on Friday. The apex bank said in the circular signed by the Director, Trade & Exchange Department, Dr. O.S. Naji, that its implementation should be with immediate effect. It said this was in support of the drive to improve the efficiency of the Nigerian foreign exchange market.The circular stated, “The spread on buying and selling by BDC operators shall be within an allowable limit of -2.5 per cent to +2.5 per cent of the Nigerian exchange market window weighted average rate of the previous day. “Mandatory rendition by BDC operators of the statutory periodic reports (daily, weekly, monthly, quarterly and yearly), on the financial institution forex rendition system which has been upgraded to meet operators’ requirements. “Operators are to note that with effect from the date of this circular, non-rendition of returns would attract sanctions which may include withdrawal of operating licence. Where operators do not have any transaction within the period, they are expected to render nil returns
“Please, be guided accordingly and ensure compliance.” However findings by Saturday PUNCH, revealed that the order which was to commence immediately was being snubbed by most BDCs who had access to the scarce forex. Figures from the FMDQ showed that the naira commenced trading on the I&E window at 761.82/$ before closing at 739.52/$ on Friday.
Total turnover on the window was $130.92m as of the close of Friday. However, some BDCs who would not want to be named because they were not complying with the new directive said the naira was sold at 865/$ on Friday. A BDC who spoke to The PUNCH said, “We bought and sold dollar for 840/$ and 865/$ today. CBN is not giving us the dollar, and I did not get it cheap at the official rate so I cannot sell at that rate. “How many people have access to that official rate; the dollar is still scarce and expensive.” Another BDC who would not want to be quoted also said, “The rate we sold today is 865/$. The implication of the new guideline is that if it pays to sell at the black market, I will not sell as a licensed operator.” Speaking with Saturday PUNCH, the President, Association of Bureau De Change Operators of Nigeria, Aminu Gwadabe, said the new directive was in line with the financial reform for the industry with reference to the lisensed BDCs operating the guideline. Gwadabe said, “It is an anchor rate for them, if a customer comes, then you look at what is the closing rate for the I&E window and you buy at the -2.5 per cent to +2.5 per cent; the same thing if a customer comes to you, you use the same I&E window.” He noted that the CBN, through its intelligence report, had seen that there were BDCs that, even though they were not accessing CBN window, they were also accessing the independent window and transacting. Meanwhile, he said, other transactions showed that there were BDCs that were buying and selling through their accounts. He said the CBN was also ensuring return on rendition to for BDCs to report they did the transactions.
Do Everything Possible To Evacuate Nigerians Stranded In Sudan, AAC Tells Buhari's Government
The African Action Congress (AAC) has called on the President Muhammadu Buhari-led Nigerian Government to do everything possible to evacuate Nigerians trapped in Sudan. Describing the situation in the Northeast African country as extremely unfortunate, AAC urged the working people of Sudan to rise up and end the violence, adding that they own the land, not "Dagalo’s RSF or Burhan’s Army"."The situation in Sudan is extremely unfortunate. Our party is seriously disturbed that the African brotherhood is being shattered on the slab of greed, power and primitive accumulation of resources, by both foreign and local agents. "This in-fighting continues to dim the hope of returning to any democratic rule, organized by the everyday people of Sudan. "We immediately call on @NigeriaGov to do all that’s possible to evacuate Nigerians, while we also call for calm. "The working people of Sudan must rise now to end this violence. They own the land not Dagalo’s RSF or Burhan’s Army. "It is our hope that through revolutionary endeavours, Africa will cease being the battle ground of proxy war of 'super powers.'" SaharaReporters earlier reported that the Minister of Foreign Affairs, Geoffrey Onyeama on Sunday night during a live programme on Channels Television said 5,500 Nigerians were ready for evacuation. He said, “We have been given the cost estimate and all the details. They gave us a figure of 5,500 who are ready for evacuation. “Obviously, what you need in a situation like this is a place where everybody can congregate before you start moving them out. Because the airports, as you pointed out in your report, it is out of commission. The only viable way out is by road. “But of course, it is not totally safe so you are going to require the government to provide some security and a safe corridor out.” The minister also stated that transporting thousands of Nigerians from Sudan by road would be difficult in the face of conflict. He continued: “Our situation is particularly challenging because the numbers are so great. Some countries like the US and European countries have started evacuating. “But what they’ve been evacuating were actually their diplomatic staff. They haven’t been able to start evacuating their citizens there. We can’t evacuate all our diplomatic staff at the moment because they need to also coordinate the evacuation of all those students that we’re talking about.” Meanwhile, the Nigerian Embassy in Khartoum, the capital of Sudan, had advised its citizens, particularly students to remain indoors. It noted that it was still dangerous to travel towards Sudan's borders without security clearance and assurance from Sudanese authorities. SaharaReporters had reported how at least 4,000 Nigerian students were stranded in Sudan following the ongoing crisis in the country. The students lamented that there had been a scarcity of water, food, electricity and other basic amenities since the crisis broke out in the country.
Eid-el-Fitr: Sultan urges politicians in courts to accept outcomes in good faith
Alhaji Sa’ad Abubakar, the Sultan of Sokoto and President General Nigeria Supreme Council for Islamic Affairs (NSCIA) has tasked politicians seeking redress in courts to accept the outcomes in good faith. Abubakar, who made the assertion in his Eid-el-Fitr massage to Nigerians on Friday in Sokoto State said: ”The elections had come and gone, people should go ahead with their routine activities peacefully.“Politicians seeking redress in courts should take the outcomes in good faith and support whoever emerges for the sustenance of peace, unity and development.” The sultan appreciated the Almighty Allah for the successful completion of Ramadan fasting by the Muslim Ummah across the country.“During the period of Ramadan, we have learned a lot from our scholars, we should continue to sustain those lessons to be part of life. “Our generosity to the less privileged among us should be maintained in order to enhance our relationship and sustain our love for one another,” he urged. Abubakar felicitated all the Muslims across the country and prayed for the elected leaders to succeed in delivering their campaign promises to the citizens. He prayed for the sustenance of peace, unity and peaceful coexistence, while urging leaders to fear Allah in the discharge of their responsibilities.
Obi not qualified to rule Nigeria — Apapa-led LP faction
Fuel Subsidy: FG To Begin 40% Pay Rise For Workers By April Ending
Source:https://economicconfidential.com/2023/04/fg-pay-rise-workers/
Fuel Subsidy: FG To Begin 40% Pay Rise For Workers By April Ending Barring any last-minute change of plans, the Federal Government will begin payment of the planned increase in civil servants’ pay by the end of this month (April), The PUNCH can report. The President, Muhammadu Buhari, is expected to give his final assent for disbursement any moment from now. If the proposal sails through, it means the increase will be coming about two months to the June date proposed for the removal of petrol subsidy. Officials of the Federal Government told The PUNCH exclusively that the fresh pay increase, tagged consequential allowance, would lead to a 40 per cent rise in the current pay of government workers. Speaking exclusively with The PUNCH, the Director of Press and Public Relations, Ministry of Labour and Employment, Olajide Oshundun, revealed that the Federal Government might begin payment of the 40 per cent pay rise by the end of April this year, adding that the three months arrears of January, February and March would be paid at a later date. Oshundun, however, said he could not confirm if the proposal by the government committee saddled with the task had been finally approved by the President. He said, “Consequential allowance Salaries will be increased by 40 per cent for civil servants from level 1 to level 17. “What we receive now is called consolidated public service salary structure, it is the combination of basic and all allowances. So, the increase will be 40 per cent of what a public servant is earning now. “They will start paying from the end of this month (April) and the arrears of January, February and March will be paid later. The salary increase is effective from January 2023. That is the proposal submitted by the committee set up to look into salary adjustment for civil servants, but am not sure if the President has signed it yet.” Last month, the Minister of Labour and Employment, Chris Ngige disclosed that the Federal Government had approved a pay raise for civil servants in the country. He added that the pay rise had been included in the 2023 budget, noting that it would take effect from January 1, 2023. Ngige described the pay raise as a peculiar allowance for civil servants in view of the current economic reality and it is meant to help government workers to cushion the effects of rising inflation, rising cost of living, hikes in transportation fare, housing and electricity tariff. THE PUNCH had reported that Nigeria’s headline inflation increased to 22.04 per cent year-on-year in March, the highest rate since September 2005. According to the National Bureau of Statistics data, the latest rise in inflation rate is the third consecutive increase this year, increasing by 0.13 per cent points when compared to the February 2023 headline inflation rate. “The contributions of items on the divisional level to the increase in the headline index are food and non-alcoholic beverages (11.42 per cent); housing, water, electricity, gas, and other fuel (3.69 per cent); clothing and footwear (1.69 per cent); transport (1.43 per cent); furnishings, household equipment and maintenance (1.11 per cent); education (0.87 per cent); health (0.66 per cent); miscellaneous goods and services (0.37 per cent); restaurant and hotels (0.27 per cent); alcoholic beverage, tobacco and kola (0.24 per cent); recreation and culture (0.15 per cent) and communication (0.15 per cent),” the NBS report added. However, leaders of the organised labour on Monday described the proposed pay rise as a meagre allowance that would not be equivalent to a 40 per cent increase in workers’ salaries. Reacting in a telephone interview, the National Vice President of the Trade Union Congress, Tommy Etim, confirmed the moves by the government to increase “allowances and not salaries” as publicly insinuated. According to him, the allowance is an increased arising from the peculiar circumstances surrounding the removal of the fuel subsidy and inflation. He, however, stressed that civil servants were yet to receive the payment. He said, “I am aware of the moves by the government and the payment is to start from January. The new payment is not an increase in workers’ salaries. It is a peculiar allowance and not an increase in salary, so we don’t misinform the public. it is just an increase in basic salary and not across board. “Other components are not touched so that the market woman will not think the government has increased salary. It is an allowance because of the peculiar circumstances surrounding the removal of fuel subsidy and inflation. An allowance is not a salary. No civil servant has received so I cannot speak authoritatively until it hits everyone’s bank account.” Etim, who is also the president of the Association of Senior Civil Servants of Nigeria, further charged the government to consider increment of other allowances such as rent and transportation “We would also admire it if other allowances are looked into, especially housing and transport. The present socioeconomic indices don’t favour transportation for civil servants with some spending their whole salary just on transportation, not to talk of rent and other bills. The government should also look at that aspect as it is very important,” he added. However, the Nigerian Labour Congress denied knowledge of the proposed increment noting that “We are only hearing it as rumours.” The National Treasurer, NLC, Hakeem Ambali, said the union had yet to be involved in any form of discussion concerning the issue. He said, “For us, we are only hear it as rumours because there are procedures for negotiating fringe benefits and workers’ entitlement which is through collective bargaining. It is a tripartite thing that would have to be negotiated. But with what we are seeing, it still looks like a rumour, we are still waiting that the Federal Government will invite the necessary arm of labour where negotiation will be done and we would agree. “Any increment not based on available and empirical data would not be agreeable to labour. We must sit down to look at the inflationary and economic trends to arrive at a logical conclusion. So the first step is to go back to the negotiating table.” When asked about the union’s next action if the government went ahead with the proposed plan, he simply said, “We would continue in our push, even in our acceptance speech we made it clear that labour will negotiate with the Federal Government on minimum wage increment, so any allowance that doesn’t take cognisance of the economic reality of the day is not acceptable to labour.” Source: PUNCH
Nigeria to spend $7.5 bln on petrol subsidy to mid-2023
Nigeria's Minister of Finance Zainab Ahmed speaks during a panel discussion at the headquarters of the International Monetary Fund during the Annual Meetings of the IMF and World Bank in Washington, U.S., October 13, 2022. REUTERS/James Lawler Duggan/File Photo
ABUJA, Jan 4 (Reuters) - Nigeria will keep its costly but popular petrol subsidy until mid-2023 and has set aside 3.36 trillion naira ($7.5 bln) to spend on it, Finance Minister Zainab Ahmed said on Wednesday. Africa's biggest economy spent 2.91 trillion naira ($7 billion) towards a petrol subsidy between January and September 2022, state-owned firm NNPC said, a cost the government has blamed for dwindling public finances. President Muhammadu Buhari signed the 2023 budget of 21.83 trillion naira ($49 billion) into law on Tuesday after lawmakers increased the size by 6.4% and raised the oil price assumption. "Petrol subsidy will remain up to mid-2023 based on the 18-month extension announced early 2022," Ahmed said. Buhari said in October that the country would stop the petrol subsidy in 2023, when he steps down after Nigerians vote for a new leader in February. Successive governments in Nigeria have tried and failed to remove or cut the subsidy, a politically sensitive issue in the country of 200 million people. Inefficient use of resources is constraining Nigeria's development goals, the World Bank has said, urging the country to remove subsidies on petrol, electricity and foreign exchange that mostly benefit wealthy households. ($1 = 448.05 naira) Writing by Chijioke Ohuocha; editing by Barbara Lewis
Outgoing Nigeria government proposes pay rises after fuel subsidy removal
Outgoing Nigeria government proposes pay rises after fuel subsidy removal
By Felix Onuah
Nigerian President Muhammadu Buhari speaks during the launch of the new Nigerian currency in Abuja, Nigeria November 23, 2022. REUTERS/Afolabi Sotunde
ABUJA, March 28 (Reuters) - Nigeria's outgoing government has recommended that the new administration of president-elect Bola Tinubu give public sector workers pay rises after removing a fuel subsidy in June, Labour Minister Chris Ngige said on Tuesday. President Muhammadu Buhari, who steps down in May, had planned to remove the popular but costly subsidy in 2022 as part of fiscal and petroleum sector reforms, but abandoned the plan because of fears of protests in the run-up to last month's election. Previous Nigerian governments have promised to remove the fuel subsidy, which most economists say is an unsustainable drag on public finances, but have failed to do so because of fierce opposition from citizens. Many Nigerians regard cheap subsidised fuel as at least one benefit they receive from the state, which fails to deliver other basic services such as electricity and security despite receiving billions of dollars every year from oil exports. "We have already concluded on the issue of pay rise ... we recommended 5% and 10% pay rise for workers in different categories," Ngige said. While the new government is not obliged to act on the recommendation, the call does put pressure on Tinubu to fulfil his campaign promise to remove the subsidy - even though the outgoing administration itself failed to do so. Tinubu, who is from the same party as Buhari, also promised during his presidential election campaign to ramp up oil production and deregulate midstream gas prices within six months. Tinubu said in his manifesto that he would channel the money saved on the subsidy into agriculture, social welfare, road construction, public transport subsidies, education and healthcare. Nigeria set aside 3.36 trillion naira ($7.3 billion) to spend on the subsidy until mid-2023, according to its finance minister. ($1 = 459.85 naira) Writing by Chijioke Ohuocha; Editing by Estelle Shirbon and Alison Williams
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