Business
Compensation Law Workers Commend Jonathan
Workers in both the public and private sectors on Tuesday hailed President Goodluck Jonathan for signing the Employees’ Compensation Act into law.
Some of the workers who spoke with newsmen in Abuja said the signing of the Act was a welcome development, urging the government to monitor its implementation.
Mr Obi Okafor, a public servant, said the signing of the Act was one of the best initiatives of the Federal Government.
“This is a welcome development as it concerns the labour sector of the economy. Before now a lot of workers had suffered injuries while on official duties and nobody cared for them.
“With this law, it will be compulsory for an employer to pay compensation to his or her employee who suffers accident while on duty,” he said.
Okafor said the law would go a long way in creating harmonious industrial relationships between labour groups and organisations.
Malam Bello Murtar, an accountant in a private organisation, said that if the law covered the private sector, it would bring hope for labourers who work throughout the day.
“A lot ofthem are not compensated in the event of accidents. They are only given time to recover. Now they have something to fall back on,” Murta said.
Mrs Kemi Ibiyemi, a public servant, said “the only fear is at the implementation stage of this law; we in this country have a lot of ideas but the problem is implementation.
“I will like to call on the Federal Government to ensure that this particular law is implemented because it involves lives,” she said.
The main objective of the Act is to provide a more open and fair system of guaranteed and adequate compensation for all employees or their dependants for any death, injury, disease or disability arising out of or in the course of employment.
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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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