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‘Multinationals exit costs Nigeria N94tn in five years’

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The exodus of multinationals from the Nigerian economy has cost the country a N94tn loss of output in five years, according to an economist and former Director of Research and Advocacy at the Lagos Chamber of Commerce and Industry in Nigeria, Dr Vincent Nwani.

Multiple multinationals have left Nigeria by either scaling down operations, transferring ownership or selling their stakes, the most recent being the sale of beverage company Diageo’s 58.02 per cent shareholding in Guinness Nigeria to Tolaram Group on June 11, 2024.

Nwani told The According he arrived at his data by considering the valuation of multinationals and by calculating their value addition by five to 10 times.

The economist explained that he checked the contribution of all multinationals leaving the Nigerian economy by analysing how many Nigerians such multinationals employed, the salary they paid their workers and their turnover.

Nwani, who claimed to have always kept his eye on the economic data from Nigeria for most of the 20 years, noted he only mentioned the most notable companies, but other multinationals were included in the analysis, which helped him arrive at the final figure.

According to the analyst, for the first year, over 10 companies shut down operations in 2020, most notably: Standard Biscuits Nigeria Ltd, NASCO Fiber Product Ltd, Union Trading Company Nigeria PLC and Deli Foods Nigeria Ltd

In 2021, he stated that more than 20 companies exited, including Tower Aluminium Nigeria PLC, Framan Industries Ltd, Stone Industries Ltd, Mufex Nigeria Company Ltd and Surest Foam Ltd.

He stated that in 2022 over 15 known brands left Nigeria, including Universal Rubber Company Ltd, Mother’s Pride Ventures Ltd, Errand Products Nigeria Ltd and Gorgeous Metal Makers Ltd.

More than 10 major companies left in 2023, notably Unilever Nigeria PLC, Procter & Gamble Nigeria, GlaxoSmithKline Consumer Nigeria Ltd, ShopRite Nigeria, Sanofi-Aventis Nigeria Ltd, Equinox Nigeria and Bolt Food & Jumia Food Nigeria.

In the first six months of this year, five listed major companies had left Nigeria, including Microsoft Nigeria, Total Energies Nigeria (affected by its divestment), PZ Cussons Nigeria PLC, Kimberly-Clerk Nigeria and Diageo PLC.

Nwani told The According that the major contributor to Nigeria’s N94tn loss in output was Microsoft Corporation, which announced it was closing its Africa Development Centre in Lagos on May 8, 2024.

“Between 2020 and 2022, our calculation showed a cumulative lost output and potential investment of N24tn. From 2023 to H1 2024, larger multinationals exits, such as Microsoft’s departure, accounted for over 50 per cent of the figure,” he said.

While Microsoft has denied it was shutting down its operations in Nigeria, the closing up of the tech company’s centre for which it invested $100m was followed by an announcement of a proposed $100bn investment in a Kenyan data centre.

The economist stated the top reasons for the exodus of multinationals were the foreign exchange crisis, worsening security conditions in the country and the power supply crisis, which has led to exorbitant energy costs.

Nwani said, “If things continue this way and I don’t see anything being done to cause insecurity to stop, illegal taxation, corruption and uncertainty of foreign exchange rendering companies unable to hedge risk, then I see at least 10 more notable names (of multinationals) that will go. We already have five by the end of May.”

The economist said the President Tinubu-led government needed to address the top three reasons it gave for the multinationals’ exit from Nigeria to bring about some economic relief.

A Babcock University Professor of Economics, Olusegun Ajibola, told The According that the exit of multinationals happened chiefly because the investment attracted by the foreign companies in their original currencies eventually dropped in value due to the increase of the exchange rate against the Naira.

Ajibola drew an analogy of a multinational whose investment inflow of about $1m gets converted to the existing naira rate and after a financial year, converts profit to original currency for repatriation purposes only to discover it was not worth the same as before because the naira exchange rate plummeted.

The don said it was most likely for a multinational in such a situation as his analogy to not spend further resources to do business in a country with an exchange rate challenge as Nigeria had and would rather sell off its stakes to other businesses.

Ajibola noted, “While some multinationals are leaving Nigeria, other companies are coming in.”

“Nigeria presents a very beautiful outlook for international investors. We have always had a robust market, irrespective of some of our local challenges in infrastructure, security and others.”

The former president of the Chartered Institute of Bankers mentioned that foreign investors would remain attracted to the Nigerian economy even in the eye of many multinationals exiting, as was the case of Tolaram Group, a multinational that bought over the shareholding of another multinational, Diageo.

NIPC rakes in N9bn from tax waiver fees

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The Nigerian Investment Promotion Council has raked in a total sum of N9.2bn as revenue from charges imposed on the issuance of Pioneer Status Incentive to eligible companies and renewal fees in four years, Sunday According reports.

The commission, charged with the responsibility of granting tax holidays to eligible companies made an average of N1bn annually, according to an analysis of its internally generated revenue between 2020 and 2023.

The fees also represent a major source of revenue for the commission.

This new development came amidst plans to review and reduce tax waivers given to companies operating in Nigeria currently worth N6tn annually.

Tax incentives have been a contentious issue due to the high amount of revenue lost to waivers granted every year.

Economic experts stressed the role of tax waivers in driving economic growth but questioned the transparency and objective rate of the Federal Government in granting tax waivers.

The pioneer status is an incentive offered by the Federal Government, which exempts companies from paying income tax for a certain period. This tax exemption can be full or partial.

Offered under the Industrial Development Income Tax Act with tax reliefs for three years, the incentive is generally regarded as an industrial measure aimed at stimulating investments in the economy.

The products or companies eligible for this pioneer status are those that do not already exist in the country.

The commission in its 2024 first quarter report stated that it granted fresh tax holidays to 12 companies in the first quarter of this year, increasing the number of total beneficiaries to 104 companies.

According to the NIPC report, the 12 companies newly given tax holidays for an initial period of three years include Fouani Nigeria Limited; Neway Power Technology Company Limited; Starich Recycle Technologies Company Limited; Gerawa Rice Mills Limited; Shafa Energy Limited; Mafa Rice Mills Limited; A. A Rano Nigeria Limited (haulage); and A.A Rano Nigeria Limited (Natural gas supplier).

Others are Basma Agric Processing Limited; Flex Films Africa PVT Limited; Addmie Nutrition Limited; and Dufil Prima Foods Plc.

The report also stated that the companies had invested N125.74bn in its operations and production.

In addition, NIPC said it also approved in principle nine other companies, which will join the beneficiary companies after fulfilling certain conditions.

NIPC added that 18 new PSI applications were received in the first quarter of this year, while eight firms applied for an extension of their tax holiday, but only two were granted extensions.

Meanwhile, a further breakdown showed that the commission earned N3.1bn in 2020, dropped to N1.92bn in 2021 before increasing to N2.1bn in 2022 and N2.11bn in 2023.

The Chairman of the Presidential Tax Reform Committee, Mr Taiwo Oyedele, has said that the government will not stop the lamentation of waivers granted to companies until the new tax reforms are passed into law.

He added that the new law would not reverse the tax holiday being enjoyed by the companies as it contradicted the committee’s intention to attract investments.

 “The rules we have drafted concerning whatever exemption you get at the time our laws are enacted will respect it, if it is three years, you would enjoy the tax holiday. We are talking about the country; three to five years is not the end of the world.

“If we reverse anything that has been granted, that’s a contradiction to what we stand for. whether we agree to the process is a different conversation but anyone that gets pioneer status would be allowed to run the course of that tax holidays but once our laws are enacted, you won’t be able to get fresh ones.”

Rivers, Ekiti activate surveillance, urge caution

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The Rivers State Government has hinted at suspected cases of cholera outbreak in the Ngo community in the Andoni Local Government Area of the state but said no active case has been recorded.

The government, therefore, appealed to the residents of the state to be cautious and access any of the primary healthcare facilities across the state in the event of any health challenge.

The Commissioner for Health, Dr Adaeze Oreh, disclosed this in a voice note sent to newsmen in Port Harcourt, the state capital, on Saturday evening.

She said the information became necessary following recent nationwide reports about cholera outbreaks across some of the states in the country.

Also, the Ekiti State government alerted residents to be on high suspicion for cholera in their communities and the need to take precautionary measures.

The Commissioner for Health, Dr Oyebanji Filani, in a “Public Health Advisory on Cholera,” released on Saturday night, said the outbreak of cholera and the attendant casualty in Lagos State within the geopolitical zone were causes for concern.

The Nigeria Centre for Disease Control and Prevention, in its latest report, warned the public of the increasing trend of cholera cases across the country as the rainy season intensified.

The NCDC said from January 1 to June 11, 2024, a total of 1,141 suspected and 65 confirmed cases of cholera with 30 deaths had been reported from 96 LGAs in 30 states.

Following the report, Adaeze spoke on the status of Rivers State, saying that a notification was obtained on June 9 of some suspected cases of the disease at Ngo town, in the Andoni LGA.

“In the past couple of days, there have been nationwide reports about cholera outbreaks across some of the states in Nigeria.

“I would, therefore, like to share a brief update to the public on the status in Rivers State.

“On the 9th of June, 2024, the Rivers State Public Health Emergency Operation Centre received notification of some suspected cases of cholera at Ngo in the Andoni Local Government Area of the state.

“The Rivers State Public Health Emergency Operation Centre was further notified of two associated deaths in the community with similar symptoms by the local government area rapid response team, led by the state disease surveillance and notification officer.

“The state rapid response team mobilised to support the local government area rapid response team to ascertain the diagnosis, manage and contain the incident.

“Suspected cases were managed at the General Hospital, Ngo and the team interacted with the doctors who were available at the time of the visit.”

She added, “The cholera case management protocol was reviewed for common understanding and the Rivers State Ministry of Health supported the facility with medical consumables, information, education and communication materials, and infection prevention and control commodities.

“I wish to, therefore, emphasise here that there are currently no active cases that have been reported in Rivers State,” she said.

The commissioner, however, advised members of the public to always boil their water before drinking.

The Ekiti health commissioner, on his part, advised residents on hand hygiene, safe water, food safety, vaccination and as well to “use proper toilet facilities and maintain clean sanitation practices.

He also asked them to stay up-to-date with vaccinations against diarrheal diseases, particularly for children.

Filani said, “The state has an operational readiness strategy (based on previous epidemiologic data, risk assessment and identified hotspots) to prevent the outbreak of cholera through the Incident Management System with functional areas/pillars.

“The state has an already established Rapid Response Team at both state and local government areas to actively search for cholera cases. As a result of this, there is heightened surveillance for cholera and other priority diseases across the 16 LGAs in the state,” he said.

Filani described cholera as “a food and water-borne disease, caused by the ingestion of the microorganism Vibrio cholerae in contaminated water and food,” adding that “it is characterised in its most severe form by a sudden onset of acute watery diarrhoea that can lead to death by severe dehydration.”

He advised the public to “wash hands frequently with soap and water, before eating and after using the toilet, ensure access to safe drinking water sources, boil or treat water from questionable sources and as well practice safe food handling, cooking and storage to prevent cholera.”

Lovers found dead inside Ondo apartment

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The Ondo State Police Command on Sunday said it had begun an investigation into the circumstances that led to the death of a man and his girlfriend in the state.

A middle-aged man identified as Eric and his yet-to-be-identified girlfriend were reportedly found dead at a new apartment located in the Ayeyemi area of  Ondo town, Ondo State, on Thursday.

According Metro gathered that the lifeless bodies of the lovers were found stuck together in a sexual position, indicating that they were having sex before the incident happened. They were said to have been separated by a doctor but they had died.

The real cause of the death of the secret lovers had yet to be unravelled as of the time of filing this report but a source claimed that the secret lovers were electrocuted during the sex romp.

The source who refused to identify himself because he did not have the authority to speak to the media on the matter said, “The generator running on the premises of their building and a phone was seen charging on a socket placed on the bed. It may be possible that they had contact with a naked wire, resulting in their electrocution.”

Another source said the relatives of the deceased found them dead when they checked on him after they didn’t answer their phone calls the following day.  They looked through a window, spotted the bodies, and then broke down the door to enter.

When contacted, the state Police Public Relations Officer, Mrs Funmilayo Odunlami, confirmed the incident, saying an investigation had commenced into the incident.

“The man and the woman were lovers who were known by both relatives. They died in the room but they were not stuck together. We have yet to know the cause but an investigation has commenced,” the PPRO stated.

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NDLEA seizes N4bn cocaine, arrests siblings in Abia

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Operatives of the National Drug Law Enforcement Agency have arrested two siblings in Abia, recovering cocaine and methamphetamine consignments worth over N4.1bn.

The siblings identified as Kelechi Nwaobasi and Chinwe Nwaobasi were arrested during a special investigation conducted between June 13 and 14, 2023.

A statement on Sunday by the NDLEA’s Director, Media and Advocacy, Femi Babafemi, said they were arrested following months of intelligence gathering.

He added that the leaders of the cartel were arrested with the combined seizure of 20.76 kilograms of cocaine and methamphetamine from them.

The statement read, “A cartel controlled by a drug baron, 49-year-old Kelechi Monday Nwaobasi and his 50-year-old elder sister, Ms Chinwe Rose Nwaobasi, had been taken down by officers of the Special Operation Unit of the NDLEA, following the arrest of the siblings and seizure of cocaine and methamphetamine consignments worth over N4.1bn in street value from their hideout in Aba, Abia State commercial city.

“The special operation conducted on Thursday and Friday, June 13 and 14, 2024, at 3B, Boundary Avenue, Aba and a residence along Ohia Road, Ohia, Abia State followed months of intelligence gathering, leading to the arrest of the ring leaders and the combined seizure of 20.76 kilograms of cocaine and methamphetamine from them.”

Babafemi also said four suspects connected with the importation and distribution of opioids were arrested in Lagos.

He added that a total of 82,000 bottles of the opioid worth more than N600m were recovered from the suspects.

Babafemi said, “In a related development, the NDLEA operatives in Lagos State have uncovered an expansive warehouse stocked with a large consignment of codeine-based syrup, located at Comfort Oboh area of Kirikiri, where four persons connected with the importation and distribution of the opioid were arrested during an intelligence-led raid on the facility.

“Those arrested include: Kingsley Amanambu Obumneke, 38; Emeka Emmanuel, 48; Bonaventure Ugochukwu, 59; and Martin Dike, 56, while a total of 82,000 bottles of the opioid worth more than N600m in street value, Toyota Tacuma truck and two buses used for distributing the substance were recovered from the premises on Monday, June 10, 2024, when the NDLEA officers conducted the operation.”

Babafemi noted that other suspects with opioids were arrested in Lagos and Kano states.

“Two days after, Wednesday, June 12, operatives intercepted another suspect, Ibrahim Abdulhamid, with 29,100 pills of tramadol and other opioids as well as 3.9 litres of codeine syrup at Alaba Suru, Ojo Local Council Development Area of the state.

“A total of 230,600 pills of tramadol 225mg and 200mg were recovered from the duo of Yasir Rabi’u, 23, and Abubakar Ado, 30, who are major distributors of illicit drugs in Kano and Jigawa states, when they were arrested on Monday, June 10, at the Gadar Tamburawa area of Kano. In the same vein, another suspect, Hassan Abdullahi Ali, 25, was nabbed with 150 bottles of codeine syrup at Kofar Nassarawa area of Kano on Tuesday 11th June, “ the statement added.

In Ogun State, Babafemi said the NDLEA operatives seized 390kg of cannabis and arrested the trio of Muhammad Sani, Nura Mohammad and Samaila Rabe during an early morning raid in the Ibese area of the state on Monday, June 10.

He added that its officers on Wednesday, June 12, busted a scrunchies-making factory in the Sabo area of Sagamu town where seven suspects were arrested.

The statement added, “They include: Kareem Jamiu; Oriyimi Ayo; Bamidele Wasiu; Rasheed Olarewanju; Ramota Lawal; Amudalat Olarewanju; and Adeniyi Omotosho. Exhibits recovered from them include 387 litres of skuchies; 70 litres of industrial codeine; 25kg of cannabis and different quantities of tramadol,  rophynol, and diazepam, as well as various equipment used in the production of the new psychoactive substance. “

Babafemi said two suspects were arrested in the Federal Capital Territory with 3,550 bottles of “Akuskura”, a new mixture of psychotropic substances.

He said, “In Abuja, the Federal Capital Territory, two suspects: Muhammad Abba, 33, and Samson Ehizogie, 42, were arrested with 3,550 bottles of “Akuskura”, a new mixture of psychotropic substances, by operatives during a raid on Friday,  June 14 at Garki Area 10 and Dutse Suokale, both within the FCT.”

No #EndSARS protesters in custody, police reply Shehu Sani

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The Nigeria Police Force on Sunday said there are no #EndSARS protesters in any of its detention facilities.

At a dinner organised to mark 2024 Democracy Day on June 12, a former senator who represented Kaduna Central, Shehu Sani, urged President Bola Tinubu to pardon the #EndSARS protesters still in detention.

Responding to Sani’s comment in a statement on Sunday, the Force spokesperson, Muyiwa Adejobi, said, “Nobody is being wrongly persecuted for participating in the #EndSARS protest.

“The Nigeria Police Force categorically denies the recent allegations made by Senator Shehu Sani at the 2024 Democracy Day Dinner on June 12, 2024, at the Presidential Villa in Abuja, where the former senator falsely claimed that some young people have been detained since the 2020 #EndSARS protest.

“For emphasis, no one anywhere in Nigeria is under police detention or being wrongly persecuted for participating in the #EndSARS protest.

“The issues surrounding the protest have been debated, researched, and documented, and lessons have been learnt. We have forgiven ourselves and moved on.

“We urge the public to disregard this claim and remain assured of our commitment to upholding justice, the rule of law, and human rights.

“We encourage verifying information before making public statements to avoid harm and incitement.”

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Kano shares 700 cows among 5,600 individuals

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The Kano State Governor, Abba Yusuf, on Sunday, inaugurated the distribution of meat from 700 cows to 5,600 individuals across the state.

This was courtesy of a charitable organisation based in Germany, HASENE, collaborating with the BARIS Foundation, as part of the Eid-el-Kabir celebration for the year 1445AH.

Launching the symbolic distribution at Bayero University, Yusuf expressed joy at the benevolent act, foreseeing the uplift of spirits among the countless individuals in need.

In a press statement, the Director-General, Media and Publicity, Sanusi Dawakin Tofa, said the governor charged the administrators and distributors of the initiative to uphold justice and maintain a devout reverence for Allah.

This, he said, was to ensure the fulfilment of their entrusted responsibilities and the realisation of the Kurban project’s objectives within the state.

The governor advocated for the extension of meat distribution to patients in hospitals, inmates of care facilities, and the destitute roaming the streets.

One of the sponsors of the project, Muhammad Aydin, said their presence in Kano was to celebrate Sallah and share their sacrificial meat with the Muslim community.

He expressed gratitude for the reception extended to them by the Kano State government and, by extension, the people of the state.

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Tinubu, Buhari, Sultan, CAN proffer solutions to hardship

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President Bola Tinubu, former President Muhammadu Buhari, the Sultan of Sokoto, Sa’ad Abubakar and the President of the Christian Association of Nigeria, Archbishop Daniel Okoh, on Sunday, proffered solutions to the economic challenges confronting the country.

Against the backdrop of Eid,  which was celebrated amid the high food inflation, Tinubu called on Nigerians to show more care for their neighbours and extend charity to all in the spirit of Eid-el-Kabir.

The President, who observed his Eid prayer in Lagos, emphasised that some degree of sacrifice would be necessary to advance the nation.

 In a statement released on Sunday by his Special Adviser on Media and Publicity, Ajuri Ngelale, the former Lagos state governor reminded Nigerians that citizenship comes with responsibilities.

The statement read in part, “We have been told by the Chief Imam how we can follow the path of sacrifice. The sacrifice required of a good citizen. Citizenship comes with responsibilities. As citizens, what do we need to do to be committed members of our society?

“Yes, that is sacrifice; loving your country. Loving your neighbours. Sharing what you have with each other. And to always be thankful to Almighty God.”

Lagos Imam

In his sermon, as detailed in the statement, the Chief Imam of Lagos State, Sheikh Suleiman Abou-Nolla, who led the prayers, emphasised the importance of increased love, sacrifice, and care for the poor and vulnerable.

“Our leaders like the late Sir Ahmadu Bello, Abubakar Tafawa Balewa, Dr. Nnamdi Azikiwe, Moshood Kashimawo Olawale Abiola, Funmilayo Ransome Kuti, to mention a few, sacrificed their knowledge, wealth, sweat, and even life, to the growth and development of the country we call ours today. All their activities and actions were geared towards nation-building.

“We must therefore ensure that their sacrifices are not in vain. It is incumbent on us to follow their footsteps to ensure that this nation, Nigeria, continues to grow in leaps and bounds,” the cleric was quoted to have said during the prayers.

The chief imam called on the citizens to pray for God Almighty to grant the President the strength and wisdom needed to fulfil his vision for a better and more prosperous nation.

In his message, former president Buhari urged the citizens to return to farming and buy made-in-Nigeria products.

In a statement released by his media adviser, Garba Shehu, on Sunday, Buhari expressed satisfaction that an increasing number of Nigerians were engaging in agriculture to boost food production, lower prices, and ensure food security for the nation.

Speaking to reporters after participating in the Eid prayer with the Emir of Daura, Dr  Faruk Faruk, at the township Eid ground, Buhari wished everyone a happy celebration.

The statement quoted him to have said, “I use this occasion to make an appeal to all citizens to make Nigeria self-reliant. Let us grow our own food. We have shown that we can do it. This is not the time to relent when we see prices going up.

“Let us buy what is produced in the country. The foundation of a prosperous and stable country has been laid by successive governments, and I encourage our youth, in particular, to continue to play an active role in various nation-building efforts.

“I urge the youth of the country to seek to know about the founding fathers of the nation, the important personalities of their regions, and derive inspiration from them.”

The former president voiced concern about uncontrolled population growth, warning it could pose significant challenges for future generations.

“There is a need for greater discussion and awareness about this problem, as well as a need to invest more in education and health.

“Considering the situation in the country, and in the spirit of the sallah, let us help one another and be our brother’s keepers.  I wish everyone a happy sallah,’’ Buhari added.

Addressing members of the National Youth Service Corps who have upheld a tradition of paying respects to him every sallah, the former president remarked that “the scheme continues to be a strong fabric holding the country together and urged successive administrations to continue to strengthen it.”

Buhari lauds NYSC

He praised the NYSC as one of General Yakubu Gowon’s most significant achievements during his tenure as Head of State.

The former president donated a cow, 10 bags of rice, and some money to the NYSC members to mark the occasion.

In his Eid message, the Sultan called on the leaders to redouble their efforts in finding solutions to the economic and security challenges facing Nigeria.

He spoke at his palace in Sokoto where thousands of Muslim Ummah gathered to pay homage to him.

Abubakar demanded concerted action to tackle the security challenges to enable farmers to access their farms and end hunger in the country.

He also advised well-to-do individuals in the society to assist the less privileged members of the society.

Imam Malamin Akwara, the Chief Imam of the Sultan Bello mosque, led the two units’ prayers at the Sokoto central Eid ground, where the Sultan of Sokoto, the Sokoto State deputy governor and other top government officials observed the Eid prayers.

In commemoration of the occasion, the President of the CAN, Okoh, called on Nigerians to unite in love and forgiveness, despite the current challenges across the country.

He also urged Nigerians to embody the values of sacrifice, obedience and faith, and to set aside differences and heed the call for unity and peace.

“As Muslims all over the world celebrate Eid-el-Kabir, a festival symbolising sacrifice, obedience, and faith, I, on behalf of the Christian Association of Nigeria, extend warm felicitations to our Muslim brothers and sisters.

“On this auspicious occasion, I urge all Nigerians to embody the values of sacrifice, obedience, and faith in our daily lives. Let us set aside our differences, heed the call for unity and peace, and trust in God’s promise for a better Nigeria. Our nation is in dire need of God’s mercy, peace, and unity.

“In the face of current challenges, let us unite in love, forgiveness, and reconciliation. Let us pray for divine intervention in our security, economic, and political struggles. May God’s comfort and strength support the displaced, the bereaved, and the traumatized”, the message read.

 Okoh also stated that the country needed God’s mercy, while again calling on Nigerians to work together to build a Nigeria where all citizens could thrive, regardless of religion, tribe or creed, adding that “Together, we can overcome any obstacle.”

The Christian leader noted, “As the Muslim Ummah celebrate this festival, let us remember that our nation deeply needs God’s mercy, peace, and unity. Let us work together to build a Nigeria where all citizens can thrive, regardless of religion, tribe, or creed. Our diversity is strength, and together, we can overcome any obstacle.’’

“I call on all Nigerians to embrace peace, love, and forgiveness. Let us pray for divine intervention in our national struggles and strive towards building a united and prosperous Nigeria. Let us remember the displaced, bereaved, and traumatized, offering them our support and solidarity,” he added

The Deputy President, Supreme Council for Islamic Affairs, Ekiti State, Alhaji Tajudeen Ahmed, noted the challenging economic situation which he said affected the celebration.

Ahmed, who said, “The economy is a major challenge that confronted this year’s sallah”, added that the challenge manifested in the areas of inflation in terms of the high cost of rams and food.

In his message, the Executive Secretary and Chief Executive Officer of the National Commission for Almajiri and Out-of-School Children’s Education, Dr Muhammad Idris, challenged the stakeholders to renew their dedication to the education of every child, particularly the out-of-school children in the country.

Idris described education as a fundamental right of every child and commended the efforts of the President to eradicate the challenges faced by Almajiri and out-of-school children.

He said the President’s commitment to education and human capital development underscored the dedication of the administration to ensure the welfare of Nigerians while reaffirming the commission’s commitment to enrolling 10 million out-of-school children by 2027.

“I call upon all stakeholders to renew their dedication to education as a fundamental right for every child. Education remains the cornerstone for unlocking the potential of our youth and empowering them to contribute meaningfully to society.

“I am pleased to acknowledge President Bola Tinubu’s resolute efforts to eradicate the challenges faced by Almajiri and out-of-school children in Nigeria.

‘’His commitment to education and human capital development underscores his administration’s steadfast dedication to the welfare of all Nigerians, especially the most vulnerable,’’ he said.

Meanwhile, many Nigerians have lamented the impact of the inflation on the celebration.

In Niger State, residents said they could not afford the high cost of rams and had to settle for chickens which were selling for less than N10,000.

Rams in most Niger markets sold for between N250,000 and N800,000 depending on their sizes.

The small-sized rams sold for between N250,000 and N350,000 while the large sizes sold for between N700,000 and N1 million.

The medium ones sold for between N400,000 and N750,000.

A Minna resident, Suleiman Abdullahi, said that the celebration went well despite the high cost of rams and foodstuff.

“The economy cannot stop it. We have learnt to cut our coats according to our cloth. Most people could not afford the ram and decided to buy chicken, it is the same thing. We will still make our sacrifices. God sees our hearts,” Abdullahi said.

Aisha Umar told The According, “Apart from the rain which started falling in the morning, everything went smoothly. Even the rain was a blessing because the whole place was cool and calm. We, Muslims, are peace-loving people and this Sallah is an occasion to share with our neighbours friends and families.”

The Imam of the Pen House, Minna, Idris Hassan, who assessed the 2024 Sallah celebration, said the Muslims had once again shown that they do not practice their religion based on the economy.

According to him, despite the prevailing harsh economy, Muslims have shown commitment to Allah.

Ogun residents

Like their counterparts in other states, Ogun residents said the harsh economy cast a shadow on the celebration, citing the high costs of rams, pepper, tomatoes and rice.

They asked the President to be “more purposeful to address the economic hardship as it is making life difficult for the people.’’

Alfa Taoreed Olatunji stated, “The terrible state of our economy is however casting a shadow on the celebration. The prices of things have skyrocketed.

“A bag of rice is over N80,000, a fairly big ram goes for as much as N300,000, N400,000. Only a few people in my neighbourhood bought rams this year. It was a sombre celebration honestly. We pray the Almighty Allah eases things for us.”

 Mr Kehinde Yusuf said, “The state of our economy is having an impact on the Eid-el-Adha celebration this year.

“After leaving the praying grounds, we are supposed to go home and enjoy a sumptuous meal but not much of that will be seen because even those who managed to buy these rams at exorbitant prices are at a crossroads because of how much it involves to buy pepper and tomatoes to cook it.’’

Speaking in the same vein, the leader of the Hausa community in Akwa Ibom State, Alhaji Alhasan Saudauki, observed that the inflation dealt a big blow to the sallah celebration.

“Inflation has dealt a big blow to the sallah celebration this year. Many Muslims are unable to meet up with the demands of their families, let alone extended family and friends, because of the high cost of things. But all the same, we give glory to Almighty Allah who is our sustenance,’’ he declared.

He thanked Governor Umo Eno for supporting the Muslims in the state with rice and rams for the celebration.

This year’s sallah festival, a significant Islamic celebration, was marked by Nigerian Muslims amidst skyrocketing inflation rates, which have significantly decreased their purchasing power.

 The headline inflation rate in May 2023 a period preceding the Sallah celebration on June 28 and 29 was 22.41 per cent with food inflation at 24.82 per cent, while in May 2024, preceding the recent celebration, headline inflation surged to 36.95 per cent and food inflation reached 40.66 per cent.

Last year’s Sallah celebration was affected by the high inflation rates, but this year’s celebration has been even more severely impacted.

The high cost of food, transportation, and essential items has dampened the spirit of the celebration, leaving many Nigerians struggling to make ends meet.

Economist Shadrach Israel expressed concern about the alarming rise in inflation rates, stating, “The surge in the annual inflation rate from 21 per cent to over 30 per cent in just a year, and the persistent 50 per cent food inflation rate, are clear indicators of underlying structural issues in the economy.”

Israel urged the government to take immediate action, implementing a multi-pronged approach, including monetary policy tightening, supply-side reforms, social protection programmes, and structural reforms to address the underlying issues driving inflation.

He stated, ‘’As the Sallah celebration comes to an end, Nigerians hope for a more prosperous and economically stable future. The government must take immediate action to restore the purchasing power of its citizens and promote economic growth and stability.

“The fact that food prices have increased by 50 per cent compared to last year is particularly concerning, as food is a significant component of household expenditure in Nigeria.”

Another economist, Jonathan Thomas, noted that the high insecurity which has displaced many farmers from the farm belts in the country is a significant structural issue that needs to be addressed.

“The impact of inflation on the Sallah celebration is a clear example of how economic instability can affect the welfare of citizens.

“The significant decrease in purchasing power has made it challenging for Nigerians to afford necessities, dampening the spirit of the celebration,’’ he explained.

Minimum wage: FG pushes N62,000 pay despite Labour’s opposition

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The Presidency, on Sunday, insisted that the N250,000 minimum wage clamour by Organised Labour is unsustainable, warning that the Federal Government cannot channeled all its resources to meet such a demand.

The warning comes two days after the Association of Local Governments of Nigeria raised concerns over the N62,000 being proposed by the FG.

The ALGON said if approved, the wage may put a strain on the councils’ financial burden.

On Tuesday, May 28, talks between the Federal Government and Organised Labour broke down after the government and the Organised Private Sector raised their offers to N62,000.

But the labour unions described the proposal as an insult to the intelligence of the average Nigerian worker, which deserves far better than what the government offered

Speaking in an exclusive interview with The According, the Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, disclosed that unless the Nigeria Labour Congress and the Trade Union Congress were selfish, they should consider that the resources meant for the entire Nigerians could not be channeled to only the benefit of their members who are not more than 10 per cent of the entire population.

He said, “That is why we keep telling labour to be realistic because the government cannot use all its resources to pay workers. They have other things to do. The workers we are even talking about are not up to 10 per cent of the population. Many people are self-employed or engaged in the private sector, who are not members of Labour, and are not affected by this demand.

“This is even more reason why labour has to reconsider their decision critically instead of always striving to shut down the system. What the FG did was in consultation with the private sector and others. Only Labour, which appears to be in the minority, kept saying they won’t accept N62,000. They are not even employers but employees.

“Let us wait and hear what they are going to say after their return from the ILO conference. But they have to be realistic.”

Tinubu had disclosed during his Democracy Day that an executive bill on the new national minimum wage for workers would be sent to the National Assembly.

When quizzed on when he plans to transmit the bill, Onanuga said though he could not give a particular date, he sees it happening after the Sallah break.

The presidential media aide also said the Federal Government might not meet the Labour leaders again unless something cogent turned up.

“I am not certain when he plans to do it (Bill).  May be after Sallah. But I am not sure whether the FG is meeting with them or whether its position on the minimum wage has changed. Don’t forget the current amount on the table was arrived at by the committee that also has the private sector where the NECA and NACIMMA were also represented.

“That was the figure the FG delegation, sub-nationals, employers, NECA and other sectors agreed on. So, the FG cannot just decide on any other amount of money on its own without carrying these people along. And the government cannot just decide anything without ensuring that the state and local governments are able to pay,” he said.

Efforts made to reach labour leaders on Sunday were unsuccessful as close sources told our correspondents they were on their way back to the country from their recent trip to Geneva for the International Labour Organisation conference.

Meanwhile, the tripartite committee established by the Federal Government to review the minimum wage has urged labour unions to reassess their wage demands.

Speaking with NAN on Sunday, the committee’s chairman, Bukar Aji,  asked labour to reconsider their position based on economic factors and the non-monetary incentives provided by the government.

Aji highlighted several incentives of the government, including the N35,000 wage award for all treasury-paid federal workers, N100bn for gas-fuelled buses and gas kit conversions, a N125bn conditional grant, financial inclusion for small and medium enterprises, and a N25,000 monthly stipend for 15 million households over three months.

He also listed the N185bn in palliative loans to states to mitigate the effects of petrol subsidy removal, N200bn to boost agricultural production, N75bn to strengthen the manufacturing sector, and N1tn for student loans, among other interventions.

Aji called on the labour unions to consider accepting the N62,000 minimum wage offered by the Federal Government.

He said the committee was trying to avert a situation where the minimum wage would lead to further job losses, especially as many businesses are already struggling.

Govs urge sacrifice for Nigeria’s peace, progress

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As Muslims celebrated the Eid-el-Kabir on Sunday, governors and community leaders called for sacrifice as highlighted through acts of charity and kindness, to engender peace and progress in the country.

The faithful trooped out to various Eid grounds to celebrate the occasion, which commemorates Prophet Ibrahim’s obedience to Allah’s command to sacrifice his son.

At the Eid praying ground in Ilorin, the Kwara State capital, Governor AbdulRahman AbdulRazaq and the Emir of Ilorin, Alhaji Ibrahim Sulu-Gambari, joined the congregation to offer prayers to God for continued peace in the country.

Governor AbdulRaza prayed to Allaah to make peace, unity, and progress permanent features of the state and Nigeria while urging citizens to unite and work for a better country.

“Yesterday, the Amirul Hajj for Kwara, Senator Ibrahim Yahaya Oloriegbe, reached out to me from the Holy Land and asked for my prayer points. I said my prayer for Nigeria is unity, peace, and progress.

“Today, my message is the same: unity, peace, and progress. For those of us who have seen today, we say Alhamdulilahi. For those who have departed, we say may Allaah grant them Al-Jannah Firdaus.”

The emir also prayed for continuous peace and prosperity for the state and Nigeria, urging unity among sons and daughters of the Ilorin Emirate.

In his Sallah message, the Rivers State Governor, Siminalayi Fubara, enjoined the Muslim faithful to use the season to promote tolerance and the spirit of sacrifice and perseverance, as exemplified by the Holy Prophet Ibrahim.

In a statement issued in Port Harcourt on Sunday by his Chief Press Secretary, Nelson Chukwudi, the governor noted that Eid-el-Kabir highlighted the significance of unity, cooperation and mutual respect, urging Nigerians to continue to work towards peace and progress.

Fubara said the festival of sacrifice served as a reminder of the need for harmony in society, as he called on Nigerians to draw important lessons from the season to engender peace and progress in the nation.

The Gombe State Governor, Muhammadu Yahaya, called on leaders at all levels to embrace the lessons of the festival, which symbolises sacrifice, obedience and a profound test of faith for the benefit of the people.

The governor, during a feast with heads of government agencies at his official residence shortly after the Eid prayer in Gombe, stressed that the essence of Eid-el-Kabir served as a universal lesson for all leaders, regardless of their faith.

“We must sacrifice at all times and at all points, especially as leaders. We have much to learn from this festival. I believe that not only Muslims but also our Christian brethren understand the importance of such a command and the spirit of sacrifice,” the governor stated.

Governor Sheriff Oborevwori of Delta State, in a statement by his Chief Press Secretary, Sir Festus Ahon, in Asaba, exhorted the adherents of Islam to follow the footsteps of Prophet Mohammed, by absorbing the principles of selflessness demonstrated by the Holy Prophet.

He said the Eid-el-Kabir celebration was a time of sacrifice, love, harmony, and family time and urged Nigerians, regardless of their faith or ethnicity, to keep up their peaceful coexistence and to love and care for one another.

“We must use the Eid-el-Kabir celebration to reflect further and pray for our country to overcome the many problems confronting it,” he said.

Governor Peter Mbah of Enugu State congratulated Muslim ummah in the state and across the nation and called on them to use the occasion to exhibit love, tolerance, peace, unity, and a sense of sacrifice to move the nation forward.

Mbah, in his goodwill message to the Muslim faithful at Eid el-Kabir, stressed that the present socio-economic challenges would ultimately abate through the collective sacrifice and commitment to nation-building by all Nigerians.

“As we celebrate, let us also reflect on and imbibe the essence of sacrifice, charity, love, service, peace, unity, humility, and submission to the command of God that this occasion represents,” he said.

The Bauchi State Governor, Senator Bala Mohammed, in his Sallah message, said, “The occasion of the Eid-el-Kabir should be used to reflect on how we have fared morally and spiritually during the last year, to take corrective measures, where necessary, to be amongst the believers who will enjoy the mercies of Allah in the hereafter.

“Islam as a religion propagates total submission to the will of Allah and peaceful co-existence amongst the Muslim Ummah and with adherents of other faiths.”

He asked that the period be used to strengthen the existing interpersonal relationships and create new ones.

“We are not unmindful of the economic hardship being experienced by the generality of the people. This is a national problem that is being jointly addressed by the federal and state governments.

“I want to appeal to you to bear with the temporary situation. As a responsive responsible government, we will render palliative measures to cushion the effects of the hardship. I will, however, appeal to you to make some sacrifices to ensure that we overcome the hardship,” he noted.

On his part, the Kogi State Governor, Usman Ododo, vowed to continue to make the security of lives and property a top priority of his administration.

Ododo, speaking after the Eid-el-Kabir prayers at the Okene central praying ground on Sunday, said “We will make sure that Kogi is not a fertile land for criminals to come and test their intelligence.”

He appreciated President Bola Tinubu, all the security agencies and local vigilantes for their efforts in rescuing the abducted students of the Confluence University of Science and Technology, Osara and condoled with the families of two out of the 31 students who died in the hands of the kidnappers.

Governor Douye Diri of Bayelsa State, in a statement by his Chief Press Secretary, Daniel Alabrah, urged adherents of the Islamic faith in the country to reflect on the season which promotes the virtues of love, peace, self-abnegation and patriotism.

The governor also admonished Muslims to strengthen the bonds of love and brotherhood, noting that these were universal principles founded on proper religious practices.

He stressed that his administration would continue to uphold its policy of non-discrimination and peaceful co-existence, as he remained committed to the unity of all Nigerians, regardless of ethnic or religious differences.

The Ewi of Ado Ekiti, Oba Adeyemo Adejugbe, on Sunday, prayed that this year’s Eid-el-Kabir would be a source of blessing, peace, prosperity, and safety for all Nigerians, and would lead to a peaceful co-existence and progress in the country.

Oba Adejugbe said the challenges confronting the country at present were surmountable with the prayers of citizens.

In a statement in Ado Ekiti on Sunday, he called for kindness among the faithful by helping and supporting the weak and vulnerable in society.

“The country is going through some challenges, especially with a struggling economy and security challenges. These are surmountable with prayers,” he said.

The President of the 8th Senate and ex-Governor of Kwara State, Dr Bukola Saraki, in a statement by his Press Officer on Local Matters, Abdulganiyu Abdulqadir, said the story of Prophet Ibrahim and his unfaltering faith, exemplified by his willingness to sacrifice his son, Ismael, taught of invaluable lessons about faith, obedience, and sacrifice.

Saraki said the lessons resonated deeply, now more than ever, as the country grappled with various challenges, including the current economic realities.

He encouraged Nigerians to take a moment to pray fervently for the nation and its leaders.

“May Allah (SWT) guide them with wisdom and compassion to make decisions that will bring prosperity, peace, and development to our beloved Nigeria,” he said.

Also, Senator Saliu Mustapha, representing Kwara Central in the National Assembly, in his Sallah message, commended Muslims and highlighted the significance of the season.

According to a statement signed by Nasif Sholagberu, his Media Assistant, Mustapha called for the embrace of values of sacrifice, obedience, and faith embodied by Prophet Ibrahim.

The senator representing the Federal Capital Territory, Ireti Kingibe, on Sunday feted Nigerians, particularly the Muslim faithful, on the occasion of the Eid-el-Kabir celebration.

In a congratulatory statement issued in Abuja by her Senior Special Assistant on Media, Kennedy Mbele, the lawmaker called on Nigerians, especially leaders, to reflect and emulate Prophet Ibrahim’s virtues of sacrifice.

She, therefore, appealed to the affluent in society to allow the poor in their midst to breathe.

She said, “The gap between the rich and the poor in this country is inexplicable. The rich must therefore make some meaningful sacrifices to reduce the vast gap. For progress to be made in life, some valuables must be given up for the sake of other considerations.”

A former member of the House of Representatives, Shina Peller, called on Nigerian Muslims to embrace kindness and peaceful coexistence with individuals of other faiths.

In his goodwill message commemorating the occasion of Eid-el-Kabir, Peller emphasised the significance of embracing goodwill, compassion, and reflection embodied by the sacred celebration.

He urged everyone to embrace unity, kindness, and understanding amidst Nigeria’s diverse populace and stressed the need to reach out and extend support to those in need.

The Executive Secretary and Chief Executive Officer of the National Commission for Almajiri and Out-of-School Children’s Education, Dr Muhammad Idris, urged stakeholders to renew their dedication to the education of every child, particularly the out-of-school children in the country.

In his Sallah message on Sunday, where he described education as a fundamental right of every child, he commended the efforts of Tinubu to eradicate the challenges faced by Almajiri and out-of-school children in Nigeria.

“I call upon all stakeholders to renew their dedication to education as a fundamental right for every child. Education remains the cornerstone for unlocking the potential of our youths and empowering them to contribute meaningfully to society,” he said.

“As we observe this auspicious festival, let us embody the values of compassion, empathy, and selflessness that define Eid-El-Kabir. Let us strive to positively impact the lives of those in need, particularly the Almajiri and out-of-school children, who depend on our support and care,” he added.

The Muslim community in Anambra State led by Sarkin Hausa of Awka, Alhaji Haruna Garuba and the Deputy National Director-General of Miyetti Allah Cattle Breeders  Association of Nigeria, Alhaji Gidado Sidikki, called for peaceful co-existence in Anambra and the entire South-East geopolitical zone.

The duo made the call on Sunday, shortly after the Eid prayers at the Central Mosque in Awka, the Anambra State capital.

Haruna particularly urged the Muslim community in the state to use the celebration to reflect and pray for peace and harmony in Nigeria.

Sidikki, on his part, urged his Fulani brothers in the state to live in harmony with their host communities.

“Eid al-Adha, also known as Eid-eil-Kabir, is celebrated annually by Muslims worldwide to commemorate Prophet Ibrahim’s willingness to sacrifice his son, Isma’il, as an act of obedience to Allah, who then substituted Isma’il with a ram. This is why Muslims traditionally sacrifice a ram on this day.

“We observe Eid-eil-Kabir as an act of submission to Almighty Allah, acknowledging that everything we receive and experience is ordained by Him. Despite enduring losses due to attacks and insurgency, we recognise that insecurity affects every region, not just the South East.

“Therefore, we use this occasion to beseech Allah for forgiveness and grant solace to those who have lost loved ones, while expressing gratitude for our health and survival,” he said.