FG

By Uzair Adam Imam

Speaking at the 2nd Chronicle Roundtable, Vice President Senator Kashim Shettima emphasized Nigeria’s historical endurance of economic sabotage.

However, he expressed optimism, foreseeing significant economic growth once the country navigates through the ongoing reforms initiated by President Bola Tinubu’s administration.

Shettima assured that positive changes would soon manifest across various economic indicators, including inflation, per capita income, GDP, poverty reduction, and food security.

He urged Nigerians to exercise patience as the administration tackles prevailing economic challenges.

Highlighting key policy decisions and the economic agenda of the Tinubu administration, the Vice President discussed the removal of petroleum subsidy, describing it as a necessary step to save the nation from impending economic collapse.

He affirmed the need for collective sacrifice and patience to address the nation’s economic ailments.

Shettima acknowledged the continuity of governance, noting that the decisions made were essential for the nation’s survival.

He noted the importance of policy consistency and long-term vision in transforming critical sectors of the economy.

The event saw the presence of notable figures including Minister of Information Alhaji Mohammed Idris, Special Adviser to the President on Political Matters Dr Hakeem Baba Ahmed, and Chairman of 21st Century Chronicle Amb. Gbara Awanen, among others.

By Sabiu Abdullahi 

The Federal Government has approved a significant salary increase for civil servants, with a raise of between 25% and 35% for those on the remaining six Consolidated Salary Structures. 

This was announced in a statement signed by the Head of Press, National Salaries, Incomes and Wages Commission (NSIWC), Emmanuel Njoku. 

The affected salary structures include the Consolidated Public Service Salary Structure (CONPSS), Consolidated Research and Allied Institutions Salary Structure (CONRAISS), Consolidated Police Salary Structure (CONPOSS), Consolidated Para-military Salary Structure (CONPASS), Consolidated Intelligence Community Salary Structure (CONICCS), and Consolidated Armed Forces Salary Structure (CONAFSS). 

This development comes after earlier increases for those in the Tertiary Education and Health Sectors, which included the Consolidated University Academic Salary Structure (CONUASS) and Consolidated Tertiary Institutions Salary Structure (CONTISS) for universities, as well as the Consolidated Polytechnics and Colleges of Education Academic Staff Salary Structure (CONPCASS) and Consolidated Tertiary Educational Institutions Salary Structure (CONTEDISS) for polytechnics and colleges of education. 

The Health Sector also benefited from increases through the Consolidated Medical Salary Structure (CONMESS) and Consolidated Health Sector Salary Structure (CONHESS). 

According to the statement, the increases will take effect on January 1, 2024. Additionally, the Federal Government has approved increases in pension of between 20% and 28% for pensioners on the Defined Benefits Scheme in respect of the six consolidated salary structures, also effective from January 1, 2024. 

This move is expected to bring relief to civil servants and pensioners, who have been seeking improved remuneration for their services to the nation.

By Sabiu Abdullahi 

The federal government has stepped in to offer support by donating two cutting-edge digital firefighting trucks to the Kano State government.

The unveiling ceremony, graced by Kano State Governor Abba Kabir Yusuf, was marked by expressions of gratitude towards the Federal Government for its crucial assistance. 

Governor Yusuf, acknowledging the donation, expressed profound appreciation for the gesture, highlighting the substantial impact these firefighting trucks would have on bolstering safety and security within the state.

He assured the public that the resources would be utilised judiciously for the benefit of all citizens.

By Sabiu Abdullahi

The Federal Government (FG) has initiated the payment of salaries previously withheld from members of the Academic Staff Union of Universities (ASUU). 

Confirmation of this breakthrough came directly from the Chairperson of ASUU at the Federal University of Technology, Minna, Prof. Gbolahan Bolarin, who officially verified the situation.

Prof. Bolarin affirmed, “Yes, it is true. Payment has started rolling in.” 

This announcement marks a crucial milestone in the ongoing negotiations between ASUU and the FG regarding salary payments and other outstanding issues.

The resumption of salary disbursements brings relief to thousands of university lecturers who have faced financial strain due to the prolonged withholding of their earnings. 

The decision to release the withheld salaries follows President Bola Tinubu’s directive in October 2023, authorizing the payment of four months’ worth of salaries owed to ASUU members.

This action represents a proactive step by the government to address the grievances of academic staff and ensure the smooth functioning of the country’s higher education sector.

The resumption of salary payments underscores the importance of dialogue and cooperation between stakeholders in resolving disputes and fostering a conducive environment for teaching, research, and learning in Nigerian universities.

By Sabiu Abdullahi

The Federal Competition and Consumer Protection Commission (FCCPC) took decisive action on Friday by sealing Sahad Store, a prominent supermarket located in the Garki area of Abuja.

The commission cited the store’s lack of transparency in price fixing as the reason for the closure. 

This development comes just a day after President Bola Tinubu announced plans to address factors contributing to the ongoing food crisis in Nigeria.

Following a meeting with state governors, security agency heads, and ministers at the Presidential Villa in Abuja, Minister of Information and National Orientation, Mohammed Idris, revealed that a committee would be established to combat product hoarding. 

According to Idris, some traders have been accused of hoarding food products, exacerbating the challenges faced by Nigerians.

He emphasised the need to ensure that essential commodities are readily available to people at fair prices. 

The enforcement team from FCCPC, led by Acting Executive Vice Chairman Adamu Ahmed Abdullahi, found Sahad Store guilty of misleading pricing and lack of transparency during a preliminary investigation.

Abdullahi stated that the store would remain sealed until further investigations are completed. 

The commission invoked Section 115(3) of the law, which prohibits charging consumers prices higher than those displayed.

Additionally, Section 155 outlines severe penalties for corporate entities found in violation, including fines and potential imprisonment for directors. 

Despite being summoned to defend their actions, Sahad Store’s management failed to appear, only sending a lawyer who was not familiar with the case. Abdullahi emphasised that compliance with the law is necessary for the store’s reopening. 

The closure of Sahad Store underscores the government’s commitment to ensuring fair pricing practices and protecting consumers from exploitation amidst the current economic challenges facing Nigeria.

By Sabiu Abdullahi

In a bid to streamline customs operations and bolster trade efficiency, the Nigeria Customs Service (NCS) has reaffirmed its commitment to adopting evidence-based approaches.

This commitment was reiterated during the launch of the World Customs Organisation (WCO) assisted Time Release Study (TRS) Scoping Mission for Nigeria.

At the ceremony held in Lagos on Thursday, February 8, 2024, Comptroller General of Customs Bashir Adewale Adeniyi MFR emphasized the significance of the TRS method.

This systematic approach aims to measure the total duration from the arrival of goods at the Customs border until their release. 

CGC Adeniyi highlighted the strategic importance of the initiative, stating, “It represents a critical step in our ongoing efforts to optimize the trading experience and customs operations in Nigeria.”

He underscored the NCS’s commitment to trade efficiency and national development, citing initiatives such as the Authorized Economic Operator (AEO) program and the establishment of a Customs Laboratory. 

The launch of the TRS received commendation from government officials and stakeholders present at the event. Minister of Finance, represented by Lydia Jafiya, stated its alignment with the Federal Government’s agenda for economic revitalization.

Minister of Industry, Trade, and Investment, Doris Uzoka-Anite, stressed the role of trade facilitation in enhancing revenue generation and national competitiveness. 

With collaborative efforts between the NCS, WCO, and other stakeholders, Nigeria aims to leverage scientific studies and innovative strategies to enhance customs operations, promote economic growth, and facilitate international trade.

By Uzair Adam Imam 

The House of Representatives has called on the Federal Government to enforce compliance with Executive Order 003 of 2017, which promotes the patronage of locally produced products, including textiles. 

This resolution came after the adoption of a motion by Rep. Esosa Iyawe (LP-Edo) during plenary in Abuja, where he highlighted the significance of the textile sector in Nigeria’s economy. 

Iyawe affirmed the importance of revitalising the Nigerian textile industry, which was once a major employer of labour and a vital component of the manufacturing sector. 

He expressed concerns about the negative impact of non-compliance with the executive order and the preference for imported fabrics over locally made textiles. 

The House urged the Federal Government to ensure the effective implementation of Executive Order 003 and to conduct awareness campaigns to educate Nigerians on the benefits of supporting indigenous textile manufacturers. 

Additionally, the House called on various government agencies, including the Armed Forces and law enforcement agencies, to prioritise the patronage of locally made textiles. 

Furthermore, the House mandated the Committees on Industry and Legislative Compliance to oversee and ensure adherence to the executive order. 

Executive Order 003, signed by former Vice President Yemi Osinbajo in 2017, aims to boost the nation’s economy and create jobs by encouraging government agencies to prioritize the use of locally made goods.

By Sabiu Abdullahi 

The Nigeria Labour Congress (NLC) and the Trade Union Congress of Nigeria (TUC) have jointly issued a stern ultimatum to the Federal Government.

The ultimatum comes as a response to the alleged failure of the government to fulfil a 16-point agreement reached with the unions on October 2, 2023. 

Expressing their dismay over the situation, leaders of the NLC and TUC affirmed their concern regarding the government’s apparent disregard for the welfare of citizens and workers.

Despite concerted efforts by organised labour to foster cooperation and address issues in the workplace, the unions claim that the government has remained indifferent to the widespread suffering and hardship experienced by Nigerians. 

In a joint statement, the NLC and TUC lamented the necessity of resorting to drastic measures, stating, “It is regrettable that we are compelled to resort to such measures, but the persistent neglect of the welfare of citizens and Nigerian workers and the massive hardship leave us with no choice.” 

The ultimatum issued by the unions gives the Federal Government a 14-day window, starting on February 9, 2024, to honour its commitments outlined in the agreement.

Failure to do so, as stated by the NLC and TUC, will result in the commencement of a nationwide strike. 

The looming threat of a nationwide strike raises concerns about its potential impact on various sectors of the economy and the well-being of the general populace.

It underscores the urgency for dialogue and resolution between the government and organised labour to avert the disruption and hardships that a strike could entail.

By Uzair Adam Imam 

Former Vice President Atiku Abubakar attributed the surge in kidnappings and insecurity across the country to pervasive poverty and hunger.  

In a statement shared through his official handle on Tuesday, Atiku expressed concern over the distressing level of violence, particularly in Abuja, the nation’s capital. 

He highlighted the correlation between worsening poverty and the escalation of kidnapping and insecurity.  

Atiku criticised the government’s failure to fulfil its constitutional duty of safeguarding citizens’ lives and property, asserting that such negligence creates an open invitation for criminals to operate freely, leaving citizens vulnerable to abductions. 

Lamenting the unchecked reign of terror by kidnappers, Atiku urged authorities to urgently address the deteriorating security situation to rebuild the trust of the Nigerian people.  

He drew attention to recent tragic incidents, including the abduction and subsequent murder of Nabeeha and 13-year-old Folorunsho Ariyo in the Sagwari Estate Layout in Dutse, Bwari Area Council of the FCT. 

Expressing condolences to the families of the victims, Atiku called for immediate action to curb the rising violence and lawlessness.  

He affirmed the need for the government to fulfill its duty in protecting citizens, praying for comfort to the bereaved families and eternal peace for the departed.

By Sabiu Abdullahi 

The federal government has introduced two disbursement programmes, the Presidential Conditional Grant and the Presidential Palliative Loan, to inject a total of N150 billion into the economy. 

According to a statement from the Minister for Industry, Trade and Investment, Dr. Doris Uzoka-Anite, the programmes are strategically designed to support businesses grappling with the aftermath of the fuel subsidy removal implemented on June 1. 

Under the Presidential Conditional Grant Programme, the government plans to disburse a grant sum of N50,000.00 to nanobusinesses across all 774 local government areas in the country.

Collaborating with various stakeholders, including state and local governments, federal legislators, federal ministers, banks, and others, the programme aims to provide relief to the most grassroots-level enterprises.

Eligible nanobusiness owners are required to furnish proof of residence or business address in their local government area, along with personal and bank account details, for identity verification. 

The government has also earmarked N75 billion for Micro, Small, and Medium-sized Enterprises (MSMEs) and an additional N75 billion specifically for manufacturers.

The loan facilities, offered at a single-digit interest rate of 9 percent per year, aim to stimulate growth and address financial challenges faced by businesses. 

MSMEs can access loans up to N1 million with a three-year repayment period, while manufacturers can secure up to N1 billion for working capital with repayment terms of one year for working capital or five years for machinery and equipment.

The application process for these loans involves submission through a dedicated portal, with access facilitated through participating banks.

Applicants are required to meet their respective banks’ risk assessment criteria. 

Noting its commitment to economic development and empowerment, the Federal Government believes these initiatives will foster entrepreneurship, spur job creation, and contribute to the overall economic recovery of the nation.

Interested parties can find more information and apply on the dedicated website for the programmes.