Business
Don Urges FG To Pay New Minimum Wage, Oct
A lecturer at the University of Nigeria, Nsukka, Prof. Rose Onah has urged the Federal Government to expedite action and start paying workers the new minimum in October.
Onah of the Department of Public Administration and Local Government Affairs made the call in an interview with The Tide source in Nsukka, yesterday.
She said that the payment of the new minimum wage would reassure workers in the country that government had their welfare at heart.
“The Federal Government should do everything within its power to ensure that the new minimum wage is paid to workers in October.
“This will give workers a sense of belonging as well as show them that government has their welfare at heart.
“The present minimum wage of N18,000 is now a peanut based on current economic realities in the country,’’ she said.
She advised government not to allow the organised labour to embark on strike first before implementing the new wage for which it set up a committee in September 2017.
The don noted that it would not be a good record for the present administration if it failed to increase workers’ salaries.
“Government should not wait until Nigeria Labour Congress (NLC) calls out workers on strike before implementing the new minimum wage.
“That will be as if government is being forced to implement the new wage.
“Government should also ensure the new wage is a living wage and something that will put smiles on the faces of workers as it will help in increasing workers’ productivity,’’ she said.
Onah, former chairman, Caretaker Committee, Nsukka Local Government Area, said most workers had been borrowing money from friends, neighbours and commercial banks, to ensure they met their financial responsibilities.
“As a result of the poor salaries paid to workers, some people look down on civil servants and see them as the poorest in the society.”
“It’s unfortunate that some patriotic civil servants who refused to engage in corrupt practices retire without having a car or a house of their own because of poor salary,’’ she said.
“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.