Following the hike in electricity tariff in the country, the leadership of the Nigeria Labour Congress, NLC, and the Trade Union Congress, TUC, on Monday shut the Ondo State headquarters of the Benin Electricity Distribution Company, BEDC, situated within NEPA axis of Akure, the state capital.
The protest was in compliance with organised labour national leadership’s directive over the recent action of the National Electricity Regulatory Commission, NERC.
With the main gate of the BEDC barricaded by the unionists, members of staff of the commission were prevented from gaining entrance to the premises as the protesting union members demanded for the reversal of the tariff hike.
Speaking while picketing the Discos office, the Ondo State Chairman of the NLC, Comrade Victor Amoko described the recent hike in electricity tariff as unjustifiable.
Amoko, who was flanked by the State JNC Chairman, Comrade Ademola Olapade and other affiliate union chairmen, noted that, “we discovered that the FG is so silent over the tariff hike and we observed that the FG is intentionally supporting them to frustrate us.
“We say no to increment in tariff. Before now, we didn’t have adequate electricity supply despite paying a huge amount of money.
“In Akure for instance, for four good days, we won’t have electricity supply and they keep increasing the tariff. We are saying enough is enough.
“What they’re doing is clandestinely short-changing the entire populace. We don’t want it anymore.”
On his part, the State Chairman of TUC, Clement Fatuase appealed to President Bola Tinubu to halt the various harsh economic policies his administration had been introducing in the last one year.
Ondo: NLC, TUC shut down NERC, BEDC offices in Akure
Ondo: NLC, TUC shut down NERC, BEDC offices in Akure
Top 10 stories from across Nigerian Newspapers, Tuesday, May 14, 2024
Here are the top 10 stories making headlines across the country.
1. Tinubu orders MDAs to buy only CNG vehicles
President Bola Tinubu on Monday issued a directive to all government ministries, departments and agencies to end the purchase of petrol-powered vehicles and go for compressed natural gas (CNG)-powered vehicles.Read more
2. Obi visits Atiku, Lamido, Saraki in their Abuja homes
The 2023 presidential candidate of the Labour Party, Peter Obi, on Monday, visited visited former Vice President, Atiku Abubakar, former President of the Senate, Bukola Saraki and former Jigawa State Governor, Sule Lamido in their Abuja homes.Read more
3. IPOB warns Nigerian govt against citing foreign military base in South-East
The Indigenous People of Biafra (IPOB) on Monday warned the Federal Government any plan to establish a military base in the South-East would be met with stiff resistance.Read more
4. Two Chinese, 30 others arrested by Oyo govt for illegal mining
Oyo State Government, on Monday, said it has arrested 32 illegal miners, including two Chinese nationals over activities of illegal miners at Sooro market in Kishi, Irepo Local Government Area of the state.Read more
5. Fubara goes for the jugular, vows to set up probe panel into governance in Rivers
Governor Siminalayi Fubara of Rivers State has taken the crisis rocking the state a notche higher, as he vowed, on Monday, to set up a panel of inquiry to look into the affairs of governance in the state.Read more
READ ALSO:Top 10 stories from across Nigerian Newspapers, Saturday, May 11, 2024
6. Tribunal reserves judgment in Kogi gov election dispute
The Kogi State Governorship Election Petition Tribunal, sitting in Abuja on Monday, reserved judgment in the petition filed by the Social Democratic Party and its governorship candidate, Murtala Ajaka, against the election victory of Governor Usman Ododo.Read more
7. MPC will do anything necessary to tame inflation, says Cardoso
Olayemi Cardoso, the Governor of the Central Bank of Nigeria, has disclosed that members of the Monetary Policy Committee (MPC) will do whatever is necessary” to keep soaring inflation in check.Read more
8. Customs, Chinese counterpart sign MoU to enhance economic growth
The Nigeria Customs Service (NCS) and the General Administration of Customs of the People’s Republic of China (GACC) have signed a Memorandum of Understanding (MoU) to foster bilateral relationship between the two countries.Read more
9. China moves to gather samples from moon’s unexplored areas
China has moved to become the first country on Earth to retrieve samples from moon’s previously unexplored areas using an unmanned spacecraft.Read more
10. Sports Minister hails NFF for appointing local coach for S’Eagles
Minister of Sports Development, Senator John Owan Enoh on Monday praised the leadership of Nigeria Football Federation (NFF) for settling for an indigenous Head Coach for the Super Eagles, despite the plethora of foreign tacticians who applied for the job.Read more
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Electricity tariff hike: Nigerian govt reveals next plan after workers’ protest
The controversy surrounding last month’s electricity tariff hike is yet to fade as the Nigerian workers, on Monday, disrupted activities in the power sector, demanding its reversal.
TVN reports that the organized labour picketed offices of all eleven Electricity Distribution Companies and the Nigerian Electricity Regulatory Commission, NERC.
In Abuja, the protest was led by Joe Ajaero, NLC president, to the Ministry of Power and the NERC headquarters.
Offices of Abuja Electricity Distribution Company were also shut down as workers were prevented from resumption.
Similarly, they picketed the offices of the eleven discos in Kwara, Lagos, Kaduna, Plateau, Enugu, Sokoto and other parts of the country.
Ajaero, during the picketing, said NERC should review its methodology for tariff increases in the electricity sector.
He noted the tariff hike is the fundamental cause of the country’s soaring headlines and food inflation, which stood at 33.20 per cent and 40.01 per cent in March.
In response to the organized labour’s one-day protest, the Nigerian Government has said that it is ready to negotiate with organized labour.
A spokesperson for the Ministry of Power, Mrs Florence Eke, in a telephone interview with TVN after workers crippled activities at the Ministry of Power, said the Federal Government, through the Permanent Secretary, Mr Mamman Mahmuda, had convened a consultative meeting for the next week with the organized labour and stakeholders to address the matter.
“The permanent secretary assured me that the Ministry is also a worker.
“The Ministry has asserted that its responsibility is to make policy while agencies, in this case, the Nigerian Electricity Regulatory Commission, and other agencies implement it.
“The Ministry will invite all stakeholders for a proper consultation by next week,” she said.
However, the Nigeria Labour Congress spokesperson, Benson Upah, told TVN that the government was supposed to consult before implementing the April 3 electricity tariff hike.
He warned that the picketing was just a teaser of what was to come if the Nigerian Government did not reverse the tariff hike.
“They were supposed to do a consultation before the tariff hike. What happened today is a teaser to what will come if the Government does nothing,” he said.
Recall that in April 2024, the Nigerian Electricity Regulatory Commission announced a 240 per cent electricity tariff increase for Band A customers getting 20-24 hours of power supply.
The hike led to customers in band A paying N225 kwh from N68 Kwh.
As justification for the hike, the Nigerian Government at different fora said it would save the country N1.5 trillion, and that only 15 per cent of the 12.8 million electricity customers would be affected.
Following the hike rejection by Nigerians, a recent minor reduction of N18.2 was announced.
However, workers’ picketing of Discos and NERC showed that the organized labour is unsatisfied with the Government’s minor tariff reduction.
Reacting to the development, Ewetumo A A, a retired staff member of the defunct Power Holding Company of Nigeria, PHCN, formerly the National Electric Power Authority, NEPA, said the picketing by the organized labour was long overdue.
“Regrettably, today’s picketing action by the NLC and TUC is belated and long overdue.
“The April 3, 2024, tariff increase, though only on Band A consumers, is having a ripple and multiplier effect on the economy.
“The inflationary trend in the country is alarming and worrisome.
“This present increase can only make it worse.
“NERC must adopt a more pragmatic and gradual three-step review approach to implementing its Cost Reflective Tariff Regime without unsettling the economy.
“Ultimately, the power sector needs a massive infusion of capital to build new power plants and refurbish the ageing old network.
“The Federal government is advised to explore a Public Private Partnership initiative to fund the power sector, incorporate the various states into blocks of regions to undertake a total transformation of the Power Sector”, he told TVN.
Electricity tariff hike: Nigerian govt reveals next plan after workers’ protest
Kebbi NLC, TUC protest tariff hike, shutdown KEDCO, NERC offices
The Nigeria Labour Congress, NLC, and Trade Union Congress, TUC, in Kebbi State have taken action by shutting down the offices of Kano Electricity Distribution Company, KEDCO, and the Nigerian Electricity Regulatory Commission, NERC.
Following directives from their national headquarters, the unions ensured the closure of these offices in Birnin Kebbi, with staff complying with the labour orders.
Speaking to reporters, Comrade Murtala Usman, the NLC Chairman for Kebbi State, criticised the tariff increase, citing the lack of stable electricity supply in the country.
“Organised Labour is calling for the reverse of the increase of the electricity tariff immediately by the Federal Government and NERC, distribution companies in the country.
“We are no longer comfortable with this increase of the tariff. Members of the Nigerian Union of Electricity Union are being harassed every day whenever they go out to discharge their civil duties because Nigerians thought they were the ones behind the increment of the electricity tariff.
“The worst aspect of this is the bands they introduced to us. You will see an area enjoying a good supply of electricity while others are getting a supply for 2 to 8 hours a day. Other areas will not even enjoy up to 2 hours in a day,” Usman added.
Usman criticised the privatisation of the electricity sector, arguing that it has not solved the issue of stable electricity and has left Nigerians paying for faulty transformers and damaged cables.
The picketing exercise was also attended by TUC state chairman, Comrade Atiku Alkali; NUEE chairman, Comrade Ibrahim Tusha’u; and Comrade Muhammed Usman Anache, the Secretary General of Initiative for Transparency and Justice.
Kebbi NLC, TUC protest tariff hike, shutdown KEDCO, NERC offices
Tinubu orders MDAs to buy only CNG vehicles
President Bola Tinubu on Monday issued a directive to all government ministries, departments and agencies to end the purchase of petrol-powered vehicles and go for compressed natural gas (CNG)-powered vehicles.
Special Adviser to the President (Media & Publicity) Ajuri Ngelale, who made this known on Monday in a statement, said the directive was in line with the commitment of the president “to ensure energy security, drive utility, and cut high fuel costs”
The statement reads “President Bola Tinubu has directed the mandatory procurement of compressed-natural-gas-powered vehicles by all government ministries, departments, and agencies.
“The President’s directive is also in furtherance of Nigeria’s effort to transition to cleaner energy as CNG-enabled vehicles have been adjudged to produce lower emissions, even as they present a more affordable alternative for Nigerian energy consumers.
“Addressing members of the Federal Executive Council (FEC) at the State House on Monday, President Tinubu affirmed that there is no turning back in the energy reforms initiated by his administration.
“This nation will not progress forward if we continue to dance on the same spot. We have the will to drive the implementation of CNG adoption across the country, and we must set the example as public officials in leading the way to that prosperous future that we are working to achieve for our people. It starts with us, and in seeing that we are serious, Nigerians will follow our lead,” the President stated.
“The President further directed the rejection of all memos brought by members of FEC seeking the purchase of traditional petrol-dependent vehicles, tasking the affected members of the council to go back and diligently seek value-driven procurements of CNG-compliant vehicles.
“The President remains committed to effectively harnessing the nation’s gas potential, alleviating the burden of high transportation costs on the masses while enhancing the standard of living of all Nigerians”.
TVN reports that the Minister of Finance, Wale Edun had on Friday paid a visit to the Lagos plant of one of the foremost indigenous car makers in the country, Jet Motor Company where he highlighted the capacity of Nigeria to produce CNG vehicles.
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MPC will do anything necessary to tame inflation, says Cardoso
By: Babajide Okeowo
Olayemi Cardoso, the Governor of the Central Bank of Nigeria, has disclosed that members of the Monetary Policy Committee (MPC) will do whatever is necessary” to keep soaring inflation in check.
This is even as he added that interest rates would remain high for as long as necessary to tame rising inflation.
Cardoso made these known on Monday in an interview with Financial Times.
During the interview, the CBN governor disclosed that there was “every indication” that the monetary policy committee would “do whatever is necessary” to keep soaring inflation in check.
“They will continue to do what has to be done to ensure that inflation comes down,” he said.
The next MPC meeting is slated for May 20-21, as there are projections of a rate hike from the committee, even as inflation is forecast to rise.
Read also: NGX: Investors begin trading week with N296bn loss
Cardoso said he hoped that high rates would not be for too long and discourage investment and production.
He maintained that raising rates had been essential.
“Hiking interest rates has had a dampening effect on the foreign exchange market, so that has begun to moderate. It’s not a zero-sum game. You lose on one side, you get on the other,” Cardoso said.
On fluctuations in the value of the naira in recent times, the CBN governor said investors, who were likely to exit the economy in response to currency fluctuations, were now more comfortable with the market.
He said, “Let’s face it: for a long period of time, the CBN did not embrace orthodox monetary policies. We want to go back to using an orthodox method, and it will take us to where we want to go.”
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NGX: Investors begin trading week with N296bn loss
By: Babajide Okeowo
Another trading week began on Monday May 13, 2024 with investors incurring a loss of N296bn.
This follows a dip in the value of stocks like Seplat, PZ, ETranzact, Unity Bank, amongst others.
Similarly, the NGX-All-Share Index ASI decreased to 97,708.74 from 98,233.76 at the close of the previous trading day.
After five hours of trading at the capital market, the equity capitalization decreased N55.265 trillion from N55.562 trillion posted by the bourse on Friday last week.
The market breadth was negative as 18 stocks advanced, 24 stocks declined, while 78 stocks remained unchanged in 8,607 deals.
Read also: Sports Minister hails NFF for appointing local coach for S’Eagles
Tantalizer, Sterling Ng, Ikeja Hotel led other gainers with 8.70%, 5.38% and 5.37% growth each to close at N0.50, N4.70, and N7.45 from their previous prices of N0.46, N4.46, and N7.07 respectively.
On the flip side, Seplat, PZ, and E-Tranzact led other price decliners as it shed 10%, 9.91% and 9.68% to close at N2,962.30, N25.00 and N5.60 from the initial prices of N3,291.40, N27.75 and N6.20% respectively.
On the volume index, NOTORE traded 74.425 million units of its shares in 1 deal, valued at N4.651bn followed by Access Corp which traded 43.053 million units of its shares in 832 deals, valued at N749m and Universal Insurance which traded 38.332 million units of its shares in 44 deals, valued at N139m.
On the value index, NOTORE recorded the highest value for the day trading stocks worth N4.651bn in 1 deal followed by GTCO which traded equities worth N1.099bn in 510 deals and Zenith Bank which traded stocks worth N1.050bn in 600 deals.
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FCTA marks 500 structures for demolition, issues notice 24 hours to exercise
The Department of Development Control, FCT Administration, FCTA, has issued a 24-hour demolition notice to operators of illegal markets and shanties along Karmo–Dei-Dei Road corridor.
NAN reported that over 500 illegal structures and shanties, situated along the road corridor were marked for demolition.
The Sector Monitor and Assistant Director in the department, Mr Garba Jibril, who led the exercise in Abuja on Monday, stated that the affected owners were earlier served with several notices.
Jibril added that the Director of Development Control, Mr Mukhtar Galadima, had held a sensitisation meeting with critical stakeholders on the matter.
He explained that demolishing the structures was necessary as they constitute a nuisance on the road in addition to heavy traffic, particularly on their market days.
Jibril added that their activities were equally emitting environmental hazards in the area, which, according to him, the FCT Administration frowned at.
The team lead also disclosed that the FCTA had awarded a contract for the construction of Life Camp–Dei-Dei Road.
He, however, said that the traders’ continuous stay on the road corridor was preventing the contractors from moving to the site.
According to him, the 24-hour notice is not to be played with and those who refuse to comply will have themselves to blame.
He also said that the traders have been asked to move to the designated market called Karmo Market, adding that the market was fully developed and equipped with necessary facilities.
“But the traders have been reluctant to move. We have had several meetings with the relevant stakeholders, including traditional leaders in the area, to get them to move but they remained adamant,” he said.
FCTA marks 500 structures for demolition, issues notice 24 hours to exercise
Super Eagles: I’ll not let you down – Finidi vows
Super Eagles head coach Finidi George has promised to deliver on his assignment and raise a team Nigerians will be proud of.
Finidi was unveiled by the Nigeria Football Federation, NFF, in Abuja on Monday.
The unveiling ceremony was attended by Minister of Sports John Enoh, NFF President Ibrahim Gusau and top officials of the sports ministry and NFF.
The 53-year-old’s assistants were also revealed at the event.
Speaking after his unveiling, Finidi said in a video posted on the NFF YouTube channel: “This is a great opportunity given to me to manage the Super Eagles. It is not an easy job for anybody but I’m so happy. For me, it’s just to start working immediately, which I’ve been doing even before signing this contract.
“I just want to say a big thank you for this great opportunity and I believe the God that has brought me here will make everything perfect.
“My job is to make Nigerians and the football federation proud and I believe I will not let anybody down and make sure we get the job done.”
Super Eagles: I’ll not let you down – Finidi vows
Sports Minister hails NFF for appointing local coach for S’Eagles
Minister of Sports Development, Senator John Owan Enoh on Monday praised the leadership of Nigeria Football Federation (NFF) for settling for an indigenous Head Coach for the Super Eagles, despite the plethora of foreign tacticians who applied for the job.
Enoh, who spoke at the unveiling ceremony of the Eagles’ new substantive Head Coach, Finidi George at the MKO Abiola National Stadium, Abuja, charged the NFF to give the former winger all the support to succeed, while also soliciting the support of all Nigerians for the new helmsman.
“As a student of the University of Calabar in those days, I used to go to the UJ Esuene Stadium to watch Calabar Rovers, which included Finidi George. I am excited to see him seated here as the new Head Coach of the Super Eagles,” he said.
President of NFF, Alhaji Ibrahim Musa Gusau exuded delight with the ‘new chapter’ the Federation is opening about the Nigeria game, saying the football-governing body is determined to fully support George and his assistants to lead the Super Eagles to new heights.
“When we returned from the Africa Cup of Nations in Cote d’Ivoire, we began the search for a new Head Coach. There was a plethora of foreign applicants, far more than the indigenous applicants.
“However, we undertook a thorough process that has produced an indigenous Coach and we are very happy about that. Finidi George was part of the technical crew that came close to winning the AFCON, and we have faith in him that he will lead the team to the title next time.
“Our objective now is to ensure the enthronement of excellence at all levels of the National Teams.”
Read Also: Nothing wrong if Finidi wants foreign assistants, says Pinnick
Gusau also revealed that the Federation gave George the free hand to pick his assistants, and that the tactician has already picked Daniel Amokachi and Benjamin James as assistants, as well as Olatunji Baruwa (goalkeepers’ trainer), Chima Onyeike (Fitness Trainer) and Mehmet Ozturk (Analyst).
George, who evinced quiet confidence all through, stated that he will invite for international assignments, only players who feature regularly at their clubs either in Nigeria or in the diaspora, and promised that the Super Eagles will remain even more competitive in the years ahead.
“My first target is to make sure that we are in line to qualify for the 2026 FIFA World Cup by winning the upcoming two matches against South Africa and Benin Republic. The 2025 AFCON qualifiers will soon start and we must also be prepared for those as well.
“I know what the NFF wants as it is boldly written in the contract, and I will work very hard to add value to the team and put myself in the position to earn even more than I will be earning from the take-off.”
On relationship with the players, George said: “I have always had a cordial relationship with all the players as an assistant coach. I am still the same person even as Head Coach now, only that the title has changed. There will be no controversy regarding relationships with the players. These are professional players and we have to give them what they’re used to in Europe; you don’t need to slap anyone to get him to do the right thing.
“I will try my best to ensure the team starts functioning properly and we start winning games again. There is no pressure on me; I have tough skin. I just want to call for your support. I know this is not an easy job, but with the support of everyone, we can achieve our objectives.”
Also at the ceremony were NFF 1st Vice President, Chief Felix Anyansi-Agwu; NFF Board Members Alhaji Sharif Rabiu Inuwa and Mr. Timothy Heman Magaji; Deputy General Secretary, Dr. Emmanuel Ikpeme; Technical Director, Augustine Eguavoen; GMD of GTI, Alhaji Abubakar Lawal; Adviser/Consultant to Hon. Minister, Ken Egbas; NFF directors Babatunde Akinsanya, Ademola Olajire, Okey Obi, Ali Abubakar Muhammad and Dayo Enebi Achor; prominent football stakeholders Jude Anyadufu and Abubakar Danfulani and; former Nigeria internationals Pascal Patrick and Nasiru Jibril.
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