Business
Deregulation: FG , labour Meet Over Planned Protest
The Federal Government, at the weekend began negotiation processes aimed at averting the planned mass protest by labour movements, which is slated for October 29.
This move might not be unconnected with the need by the government to avert the possible embarrassment the proposed mass protest would cause it as the FIFA Under-17 Championship would still be ongoing by then.
The Nigeria Labour Congress had threatened to mobilise Nigerian workers to protest the FG’s deregulation policy which is expected to lead to a hike in fuel price from the current N65 per litre to N94.
The meeting, between the Presidential Committee on Reforms in the Downstream sector and the NLC had top government officials including Minister of Petroleum, Dr. Rilwanu Lukman; Minister of Finance, Dr. Mansur Muktar; Minister of Labour, Prince Kayode Adetokunbo; and the Minister of State for Petroleum, Mr. Ajumogobia Odein in attendance.
Adetokunbo speaking to newsmen last Thursday had disclosed that a meeting would be held with labour leaders to explain what advantages the policy held for the nation. He had dispelled reports that the planned regulation was meant to take off on November “We will carry labour along, including the NLC, TUC, PENGASSAN, and NUPENG, and more importantly the National Union of Road Transport Workers who are most affected by the issue, we will involve all of them into the vision by carefully explaining the policy, then they will decide whether to key into it or not,” he said.
The Tide, however, gathered that the postponement of the commencement date for the deregulation policy was to avoid fuel queues and protests during the FIFA competition.
The meeting which held during the weekend at the Ministry of Finance Head-quarters in Abuja also had in attendance the Minister of State for Commerce, Mr. Humphrey Abah, and Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Dr. Mohammed Barkindo, and the Permanent Secretary of the Ministry, Mr. Ochi Achinivu. Labour leaders present at the meeting were, SSANU President, Comrade Promise Adewusi, who represented the NLC President, Vice President of NLC, Comrade Ladi Iliya, NLC Secretary-General, Mr. John Odah, and other labour representatives.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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