Business
FG Directs NPA To Pay Salaries Of Workers
The Maritime Workers Union of Nigeria (MWUN), say the Federal Government has directed the Nigerian Ports Authority (NPA) to pay salaries and allowances of dockworkers.
The President of MWUN, Mr Emmanuel Nted, told reporters in Lagos that government through the Ministry of Transport had written to the NPA management to pay the workers.
He said that payment of the entitlements was the only way to avert dockworkers strike.
Nted cited a letter to NPA’s managing director, dated Aug. 4 and signed by S. U. Galadanchi, Director (Maritime Services) directing the NPA to pay the workers.
He said the letter warned on the implication of making workers to shut down the ports.
The Tide source reports that MWUN had threatened to shut the nation’s ports from Aug. 6 over unpaid wages to dock workers.
Nted said the workers had no choice than to go on strike because the NPA had reneged on the latest agreement reached with stakeholders.
“The NPA and the Association of Stevedoring Companies on July 9, 2015 met with the Federal Ministry of Labour and Productivity and fixed July 30 as the last date to pay the affected workers.’’
He said that the NPA management was responsible for the delay and refusal to pay the workers, in spite of several agreements.
In his reaction, the President of Dockworkers’ Branch of MWUN, Mr Adewale Adeyanju, said that efforts were being made to solve the issue.
He warned that if by close of work on Aug. 7, the workers did not receive concrete assurance of the payment, the ports would be shut.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.