Business
Labour Plans Nationwide Strike Over Minimum Wage Delay
The organised labour have alerted Nigerians that plans were underway to embark on industrial action if the current state of affairs as regards the issue of consequential adjustment arising from the new national Minimum wage of N30,000 per month remains the same.
It is operating under the aegis of the Trade Union Side (TUS) of the Joint National Public Service Negotiating Council (JNPSNC); the eight Unions in the Public Services of the Federal and 36 State Governments.
In a press statement in Abuja on Monday, the TUS Acting Chairman, Mr Anchaver Simon, and the Secretary, Mr Alade Lawal, expressed disappointment by government’s effort to derail the implementation of a new National Minimum Wage.
“As things are right now, the government side is only prepared to pay peanuts to workers as adjustment under the pretext that it will soon be undertaking general salary review in the Public Service.”
The committee on Consequential Adjustment of Salary agreed to set up a technical body to work out different scenarios in respect of salaries that would be paid to workers who are in the Ministries, Departments and Agencies (MDAs) that draw their emoluments from the government treasury.
The technical committee met severally and series of computations that were to be presented for the plenary for consideration were developed.
The labour leaders stated that the TUS had initially proposed that since the minimum wage was increased by 66.66 per cent; from N18,000.000 to N30,000.00, salaries for officers on Grade Levels 01-17 should be adjusted accordingly to maintain the relativity that exists in the salary structure in the Public Service.
“But when the Government side argued that such increase across board would raise the total wage bill too high, the TUS side reviewed its demand downward and eventually settled for 30 per cent for officers on Grade Levels 07-14 and 25 per cent for those on Grade Levels 15-17.
“The Government side on its part was insisting on 9.5 per cent salary raise for employees on Grade Levels 07-14 and 5 per cent for those on Grade Levels 15-17.
“The two sides then agreed to capture the two positions in the technical committee’s report which will now be presented for discussion at the plenary.”
According to the TUS, it received a rude shock at the last meeting of the Technical Committee when the government side began to hold on to a non-existent position that the Technical Committee’s term of reference was to base its assignment in respect of salary adjustment on what was provided for it in the 2019 budget.
It regretted that the implication of Government’s position was that the Technical Committee cannot go beyond what the Government was pushing for which is 9.5 per cent salary increase for officers on GL 07-14 and 5 per cent for those on GL 15-17.
“With this turn of event, it is quite clear now that some fifth columnists in this Administration are hell bent on pushing President Muhammadu Buhari to enter into a collision course with millions of Nigerian workers in the Public Service. This is very sad,” the Union stated.
Business
Food Vendors, Others Relocate To New Site At PH Airport
The raging controversy between the Port Harcourt International Airport Management and restaurants/canteen operators and theirallies over relocation has been brought under control, as the operators have commenced relocation to their structures at the new site.
Recall that there had been serious feud over a directive by the Manager of the airport, Mr. Michael Area, for food vendors and their allies to relocate to the new site.
They insisted that the new site was too distant and hence, would negatively affect patronage from customers, with possible loss.
They further also insisted that it wouldcost them much money to put up another structure, given the economic situation in the country, since the airport management did not build any structure for them, apart from providing the empty land they have to also pay for.
The situation had led to flexing of muscles, which made the Airport Manager to order for sealing of all shops, resulting in scarcity of food, as airport users could not find a place to eat, apart from the only Genesis fast food spot available.
As at last Friday, The Tide observed that most of the food vendors had transferred their structures to the new place, and had started doing business there already.
Meanwhile, customers have started settling down at the new location as they were seen patronising shops for foods and drinks, in spite of the distance.
Few of the remaining structures at the old site, The Tide further gathered, will also be removed as quickly as possible, and the owners are making efforts to get funds for the job to be done.
One of them, Mrs Aka Love explained that she was going to relocate to the new place before the end of March.
Currently, business activities at the old site have come to null, as the place which was usually a beehive of food, drinks and relaxation, has completely winded down.
By: Corlins Walter
Business
MOWCA Strengthens Maritime Crime Prevention
Secretary General of the Maritime Organisation of West and Central Africa (MOWCA), Dr. Paul Adalikwu, has stepped up interaction with the United States Government to lift restrictions placed on some member countries allegedly implicated in illicit shipping activities.
Adalikwu, who led a delegation from the MOWCA Secretariat to the US Embassy in Abidjan for a first leg of the strategic consultation aimed at promoting seamless participation of MOWCA countries in international trade within the global maritime space, reiterated the organisation’s commitment to the best ethical and lawful maritime practices.
Addressing the U.S Ambassador to Côte d’Ivoire, H.E Mrs Jessica Davis Ba, the MOWCA SG stated the organisation’s interest in promoting the International Ship and Port facility Security (ISPS) code which aims at enhancing security of vessels and their ports of call.
He expressed the commitment of MOWCA in promoting environmentally friendly, safe and cost effective shipping without any encumbrance that may limit the economic potential of member countries.
Dr Adalikwu recalled that at the instance of the U.S. Department of State invitation, MOWCA participated in the 2023 Registry Information Sharing Compact (RISC) Conference in Larnaca, Cyprus, on February 28–March 1, 2023, and a virtual meeting held on June 6 2023, with Mrs Jennifer Chalmers, Officer in change of Counterproliferation Initiative.
He recalled The U.S. DOS willingness to support MOWCA’s effort for preventive maritime security through the establishment of the Center for Information and Communication (CINFOCOM) with the aim to ensure a maritime situational awareness domain within MOWCA’s member states’ waters.
He added that MOWCA under his watch is committed to training and retraining of maritime practitioners and experts to enhance the human capital capabilities of member states.
The CINFOCOM will help prevent transnational crimes committed at sea like sanctions evasion by North Korea and other state actors, who exploit poor enforcement due diligence by ship open registries to circumvent United Nations and U.S. trade restrictions.
By: Nkpemenyie Mcdominic, Lagos
Business
Nigeria’s Public Debt Hits N97.3trn – DMO
The Debt Management Office (DMO) has hinted that Nigeria’s public debt increased by 10.7 per cent from N87.87 trillion in the third quarter of last year, to N97.34 trillion as at December 31, 2023.
DMO, in an update data released last Friday, said the increase in the debt stock was largely due to new domestic borrowing by the Federal Government to part finance the deficit in the 2024 Appropriation Act and disbursements by multilateral and bilateral lenders.
The office noted that the N97.3 trillion public debt comprises of domestic debt of N59.12 trillion and external debt of N38.22 trillion. The sum of $3.5 billion was used to service external debt during the review period.
“Nigeria’s Public Debt Stock as at December 31, 2023 was N97.34trillion or $108.229 billion. This amount comprises the domestic and external debt stocks of the Federal Government of Nigeria (FGN), the 36 States Governments, and the Federal Capital Territory (FCT).
“There was an increase of N9.43 trillion over the comparative figure for September, 2023, which was largely due to new domestic borrowing by the FGN to part finance the deficit in the 2024 Appropriation Act and disbursements by multilateral and bilateral lenders.
“At N59.12 trillion, total domestic debt accounted for 61 percent of the total public debt stock, while external debt at N38.22 trillion accounted for the balance of 39 percent.
“Consistent with the debt management strategy, Nigeria’s external debt stock was skewed in favour of loans from multilateral (49.77 percent) and bilateral lenders (14.02 percent) or total of 63.79 percent which are mostly concessional and semi-concessional.
“Whilst the DMO continues to employ best practice in public debt management, the recent and on-going efforts of the fiscal authorities to shore up revenue will support debt sustainability”, DMO stated.
By: Corlins Walter
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