Business
Osun Workers Hail Approval Of N19,100 Minimum Wage
The Osun chapter of the Action Congress of Nigeria (ACN) has hailed government’s approval of N19,001 minimum wage for workers, who have yet to call off their strike.
The party in a statement signed by Mr Semiu Okanlawon, the state Director, Bureau of Information and Strategy, in Osogbo, described the approval as commendable.
Chief Adelowo Adebiyi, state party chairman in the statement said Gov. Rauf Aregbesola’s action had demonstrated his commitment to the welfare of workers.
He pointed out that the N19,001 minimum wage it approved exceeded the N18,000 prescribed by the minimum wage law.
The party called on labour leaders in the state to show fairness and commitment to duty by returning to work, after the decision to pay the new minimum wage.
According to him, the state’s Internally Generated Revenue (IGR) is such a paltry sum that almost all allocations from the federation account go into paying salaries.
“That compels the governor and his team to look for creative ways of embarking on development projects that would benefit the people,” the statement stated.
However, Mr Saka Adesiyan, the state NLC Chairman, maintained that the government had yet to address the demand of the workers.
Adesiyan said that workers would not accept anything from government short of the full implementation of the new minimum wage.
“Workers will remain on strike until the state government deems it fit to address the issue,” he added.
Reports that the modality for paying the approved wage favours workers from levels 01 to 07 who are to get full pay.
Other workers from levels 08-17 on the implementation table are to be paid on a pro-rata basis which labour has rejected.
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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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