Business
Incessant Workers Strike Worries Jonathan
President Goodluck Jonathan has expressed his displeasure with the spate of strikes by workers in parts of the country.
The president expressed his feelings at the State House in Abuja last Friday while signing into law the 1999 Constitution’s Third Alteration Bill 2010, which establishes the National Industrial Court.
Jonathan said strikes should only be a last resort when all other options for negotiated settlement of industrial disputes had failed.
“We must all imbibe a culture of negotiation and resort to constitutional means of resolving labour disputes if we are to sustainably grow our economy and ensure stability,” he said.
The president urged the organised labour, employers of labour and employees in all sectors of the economy to avail themselves of the opportunity provided by constitutional safeguards for the peaceful resolution of industrial disputes.
He recalled that he also signed a new Employees’ Compensation Act into law late last year.
Jonathan noted that his assent to both bills was a further affirmation of his administration’s total commitment to ensuring that the welfare of Nigerian workers in the formal and informal sectors was safeguarded at all times.
“It is my hope that with the constitutional establishment of the National Industrial Court, we have institutionalised the process for quick, fair and efficient resolution of disputes relating to labour, employment and industrial relations,” he said.
The president explained that the court would also resolve problems relating to workmen’s compensation, child labour, discrimination, pension, health and safety in the workplace.
“This court is conferred with exclusive jurisdiction in those areas considered critical to the sustenance of our economic and industrial development.
“Its effective discharge of its mandate should serve not only to promote industrial harmony, but also to boost the confidence of both local and foreign direct investors in our national economy,” he said.
The ceremony was witnessed by Vice-President Namadi Sambo, Senate Leader Teslim Folarin and House of Representatives Speaker Dimeji Bankole.
The Secretary to the Government of the Federation, Alhaji Yayale Ahmed and the Minister of Justice, Mr Mohammed Adoke, were also at the event.
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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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