NLC slams IMF for fuel subsidy removal denial

NLC slams IMF for fuel subsidy removal denial

The Nigeria Labour Congress has criticised the International Monetary Fund for its denial of responsibility regarding the Nigerian government’s recent removal of subsidy on petrol. The congress describes the denial as cynical and emblematic of the IMF and World Bank’s longstanding pattern of imposing harsh economic policies on developing nations. In a statement on Sunday, NLC National President, Joe Ajaaero, criticised the IMF for presenting its harmful recommendations as growth […]

October 28, 2024 26

BUSINESS

Again, varsities face lockdown as workers begin strike today

n, varsities face lockdown as workers begin strike today •Non-teaching staff shut varsities offices, gates, ministry mum as minister quits Wednesday The Joint Action Committee of the Non-Academic Staff Union of Educational and Associated Institutions and the Senior Staff Association of Nigerian Universities has vowed to indefinitely shut down all activities in universities across the country from Monday (today) when they embark on an indefinite strike. A statement signed by […]

October 28, 2024 19

BUSINESS

World facing serious challenges, says Xi Jinping

Chinese President Xi Jinping on Thursday told leaders of BRICS emerging economies the world was facing “serious challenges” and urged the group to be a “stabilising force”. Xi was speaking on the final day of the BRICS summit in the Russian city of Kazan, a forum Moscow hopes will help forge a united front of nations against the West. Addressing assembled leaders, Xi said the “common march of the global […]

October 24, 2024 17

BUSINESS

FG orders Discos to replace phased-out meters

The Federal Government has declared that electricity distribution companies must replace any meter phased out due to a meter upgrade. It declared this through the Nigerian Electricity Regulatory Commission and clarified that though there is no directive to phase out Unistar meters as claimed, they (meters) will soon be out of operation due to an upgrade in technology, and its users will not be able to vend. The commission stated […]

October 18, 2024 20

BUSINESS

Dangote meets marketers Tuesday over new petrol price

The Independent Petroleum Marketers Association of Nigeria is poised for talks with Dangote Petroleum Refinery between Tuesday and Wednesday to finalise agreements on the cost and lifting of petrol from the plant. It was learnt on Sunday that the Petroleum Retail Outlet Owners Association of Nigeria had been asked by the $20bn Lekki-based refinery to resend its request for petrol lifting. This came as PETROAN expressed optimism that the cost […]

October 14, 2024 26

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BUSINESS

Naira-for-crude: Three refineries plan PMS production, Dangote awaits NNPC supply

The Nigerian National Petroleum Company Limited may begin the supply of crude oil in naira to the Dangote Petroleum Refinery this week following the announcement by the Federal Government that the naira-for-crude deal has commenced. Also, following the promise by the government, three more refineries are getting set to start the production of Premium Motor Spirit, otherwise known as petrol, it was gathered on Sunday. The three refineries include the […]

October 7, 2024 20 2

BUSINESS

17 governors raise minimum wage panels

Seventeen state governors have raised committees to implement the N70,000 new minimum wage for workers across the country. The 17 states which set up the implementation committees are Ogun, Ekiti, Sokoto, Kebbi, Osun, Enugu, Borno, Zamfara, Kogi, Kwara, Gombe, Kano, Taraba, Delta, Rivers, Jigawa and Abia. The development is happening as the Federal Government commenced payment of the new minimum wage to its 1.2 million workers last Thursday. The Accountant […]

September 30, 2024 73

BUSINESS

Customers drag First Bank over frequent debits

Some customers of First Bank Plc have taken to social media to drag the bank over what they described as unnecessary debits from the money-keeping giant. In several reactions on their Facebook page, @First Bank of Nigeria Limited on Sunday, the customers expressed their frustration over uncountable debits from the bank in the last two weeks. One of the customers, Udoh Blessing, who reacted to the bank’s latest post on […]

September 30, 2024 23

BUSINESS

UPDATED: World Bank okays $1.57bn loan for Nigeria

The World Bank has approved three new loan requests totalling $1.57bn in financing for Nigeria. According to a statement released on Monday, the approval is to support the Federal Government in strengthening human capital through better health for women, children and adolescents. It added that the approved projects would also help build resilience to the effects of climate change, such as floods and drought, by improving dam safety and irrigation. […]

September 30, 2024 17

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