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NNPCL Appointment: Ghali Hails President Tinubu, Governor AbdulRazaq

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The Non Executive Director of the Nigeria National Petroleum Corporation Limited (NNPCL), Dr Mohammed Ghali ,has expressed his gratitude to President Ahmed Bola Tinubu for his appointment in the newly inaugurated Board of Directors of the NNPC PLC

Ghali equally thanked the Kwara State Governor, AbdulRahman AbdulRazaq for recommending him for the plumb job.

The Non Executive Director spoke while interacting with some top government officials of Kwara State who were with him in Abuja shortly after the inauguration of the new Board at the Presidential Villa, Abuja.

The elated Ghali said Governor AbdulRazaq has scored another first through his appointment into the topmost position at NNPCL , in his quest to better the lot of the people of the state and also move the state to more greater heights.

He pledged to justify the confidence reposed in him by both President Tinubu and Governor AbdulRazaq.
Governor AbdulRazaq was present at the inauguration ceremony at the State House in Abuja

Kwara State officials who were also in Abuja with Dr.Ghali for the ceremony included the Senior Adviser and Counselor to the Governor , Alh Saadu Salahu, Special Adviser, Media, Alh Bashir Adigun and Senior Special Assistant on Religion Matters ( Islam), Alh Ibrahim Danmaigoro, amongst others.

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Labour Unions to suspend further protest after fruitful meeting with President Tinubu

by Editor
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Following a meeting with President Bola Tinubu at the State House, Abuja, the leadership of the Nigeria Labour Congress (NLC) and the Trade Union Congress have decided to suspend further protests.

The meeting, held on Wednesday evening, was led by NLC President Comrade Joe Ajaero and TUC President Comrade Festus Usifo.

The discussions with President Tinubu were described as fruitful and frank, fostering confidence in his commitment to address the concerns presented by the Labor Movement.

As a result, the Labor Leaders have chosen to pursue constructive engagement with the government to resolve all outstanding issues that affect the welfare of the working people and Nigerians at large.

One of the significant outcomes of the meeting was President Tinubu’s assurance that the Port Harcourt refineries would resume production by December 2023.

This commitment follows the ongoing rehabilitation contract between the Nigerian National Petroleum Corporation Limited (NNPCL) and the Italian firm, Maire Tecnimont SpA.

President Tinubu used the opportunity to assure the Labour leaders of his dedication to working in the best interest of Nigeria. He urged the unions to collaborate with him in the pursuit of a better and economically vibrant country.

Dele Alake, the Special Adviser to the President for Special Duties, Communications & Strategy, issued the press statement, highlighting the significance of the meeting and its potential impact on the nation’s Labour landscape.

The decision to suspend further protests indicates a step towards finding common ground between the government and labor unions.

Nigerians now look forward to witnessing the promised revitalization of the Port Harcourt refineries and further progress in addressing issues affecting the working class and the nation’s overall economic growth

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NLC criticizes President Tinubu’s speech, demands concrete solutions to economic woes

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The Nigeria Labour Congress (NLC) has expressed disappointment with President Bola Ahmed Tinubu’s yesterday broadcast addressing the country’s economic challenges.

The NLC criticized the speech for lacking the “silver bullet” solutions that Nigerians had hoped for, stating that it seemed out of touch with the prevailing hardships faced by ordinary citizens.

One of the key issues raised by the NLC was the absence of a clear plan to revive the nation’s public refineries, which have long been dormant.

President Tinubu’s silence on this crucial matter left the NLC questioning the government’s commitment to addressing the root causes of the subsidy crisis.

According to a press statement signed by the President of the Congress, Comrade Joe Ajaero, the NLC called out the President for failing to unmask those responsible for looting Nigeria’s wealth under the guise of petrol subsidy.

They emphasized that mere lamenting about the “elites of the elites” who have amassed great wealth and power was not enough, and demanded a firm commitment to bring these economic saboteurs to justice and recover stolen funds.

Regarding the review of the national minimum wage, the NLC asserted that the government had not demonstrated a sincere willingness to negotiate with Organised Labour. The failure to inaugurate the sub-committee on wage award and the lack of comparable wage adjustments for public workers added to the growing discontent.

The NLC also questioned the effectiveness of the government’s interventions, such as palliatives, loans, and conditional grants, noting that past promises had often resulted in little tangible change in the lives of citizens.

Furthermore, the NLC expressed bewilderment at the omission of critical issues, such as the repair of national refineries and holding those responsible for subsidy corruption accountable.

They pointed out that these concerns were addressed in the past by current government officials, leaving Nigerians wondering why they were not addressed in the President’s speech.

Comrade Ajaero, reassured Nigerians that the NLC remains committed to advocating for their interests and emphasized the need for concrete steps by the government to improve the living conditions of citizens and alleviate the ongoing hardships.

As the nation awaits a response from the government, the NLC vows to continue their struggle until genuine efforts are made to alleviate the sufferings faced by workers and ordinary Nigerians across the country.

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Analysis Report: Presidential broadcast by president Tinubu on current economic challenges

by Editor
written by Editor

By Omotayo Ayanda

President Bola Tinubu addressed the nation in a national broadcast, discussing the economic challenges faced by Nigeria and outlining policy measures to combat these issues. The broadcast emphasized the need to remove fuel subsidy, address the multiple exchange rate system, and implement reforms to promote a more productive economy. This analysis report delves into the key points of the broadcast, its implications, and the proposed measures to stimulate economic growth.

Key Points:

Fuel Subsidy Removal:
President Tinubu argued that the fuel subsidy had outlived its usefulness and was costing the country trillions of Naira annually. He stressed that redirecting these funds towards public transportation, healthcare, education, and national security would have a more significant positive impact on the nation’s well-being.

Influence of Powerful Elite:
The President expressed concern over a small group of unelected individuals who held enormous influence over the economy and governance. He emphasized the need for democratic principles where the power of money does not overshadow the voice and aspirations of the people.

Support for the Manufacturing Sector:
To boost the manufacturing sector, the government plans to spend N75 billion between July 2023 and March 2024 to fund 75 enterprises. These enterprises will receive N1 billion credit each at a 9% interest rate, aiming to create jobs and promote sustainable economic growth.

Focus on MSMEs and Informal Sector:
Recognizing the importance of micro, small, and medium-sized enterprises and the informal sector as drivers of growth, the government allocated N125 billion to energize this sector. It includes a conditional grant to 1 million nano businesses and funds for 100,000 MSMEs and start-ups.

Agriculture and Food Security:
The President assured Nigerians of affordable staple foods by releasing grains from strategic reserves and providing fertilizer and seedlings to farmers. The government also plans to support the cultivation of 500,000 hectares of farmland to improve food security.

Infrastructure Development:
A new Infrastructure Support Fund for states aims to revamp healthcare, education, and rural access roads. Additionally, the government plans to invest N100 billion to acquire 3000 CNG-fueled buses for mass transit.

Minimum Wage Review:
The government is collaborating with labour unions to introduce a new national minimum wage for workers.

Implications:

Economic Reforms: President Tinubu’s address highlights the government’s commitment to implementing necessary economic reforms to address longstanding challenges and ensure long-term growth.

Public Welfare: The policy measures proposed in the broadcast aim to reduce the burden on citizens, especially the working class and vulnerable groups, by providing financial support and improving access to basic necessities.

Focus on Key Sectors: The government’s emphasis on the manufacturing sector, MSMEs, agriculture, and infrastructure development indicates a strategic approach to drive economic growth and job creation.

Financial Prudence: Removal of fuel subsidy has saved trillions of Naira, which can now be utilized for targeted and beneficial projects, including affordable education and support for students.

Conclusion:

President Ahmed Bola Tinubu’s national broadcast outlined the current economic challenges facing Nigeria and presented a roadmap for economic reforms. The proposed policy measures focus on key sectors to stimulate economic growth, support businesses, and improve citizens’ well-being. The success of these initiatives will depend on effective implementation and collaboration between the government, private sector, and citizens. As Nigeria moves forward, the hope is that the vision of a “glorious dawn” will become a reality with a more resilient and prosperous economy.

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President Tinubu addresses Nigerians on economic challenges, unveils measures to spur economic growth

by Editor
written by Editor

In a national broadcast, President Ahmed Bola Tinubu on Monday addressed the economic challenges facing Nigeria and unveiled a series of policy measures aimed at spurring economic growth and providing relief to the Nigerian people.

The President emphasized the need to eliminate the fuel subsidy, which had become a drain on the nation’s resources, and also highlighted the negative impact of the multiple exchange rate system.

President Tinubu acknowledged the hardship faced by citizens due to rising fuel and food prices but assured them that these measures were necessary for the long-term benefit of the nation.

He pledged to reduce the burden on businesses, the working class, and vulnerable groups through various interventions and executive orders.

To support the manufacturing sector and small businesses, the President announced a significant investment of N75 billion, with 75 manufacturing enterprises set to receive N1 billion credit each at a 9% interest rate.

Additionally, the government plans to energize the micro, small, and medium-sized enterprises (MSMEs) sector with N125 billion, providing grants to 1 million nano businesses and offering N500,000 to N1 million credit to 100,000 MSMEs and start-ups.

In response to rising food prices, the government will release 200,000 metric tonnes of grains from strategic reserves and provide farmers with fertilizer, seedlings, and other inputs to support the cultivation of 500,000 hectares of farmland.

Furthermore, President Tinubu announced the establishment of an Infrastructure Support Fund for the states, aimed at revamping healthcare and educational infrastructure and improving rural access roads.

He also promised to introduce a new national minimum wage for workers in collaboration with labour unions.

The President called on Nigerians to have faith in the government’s ability to deliver on its promises, assuring them that the nation would emerge from the current turbulence stronger and better equipped for the future.

As a result of the subsidy removal, over a trillion Naira has been saved, which will now be redirected to benefit the Nigerian people directly, including making education more affordable and providing loans to higher education students in need.

President Tinubu concluded the broadcast with a message of hope, assuring Nigerians that the nation is entering a new and glorious dawn. He urged citizens to support the government’s vision and work together towards a more prosperous Nigeria.

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