Television Nigerian

Following consultations with their respective affiliate unions regarding the cash crunch policy, the leadership of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) have decided to extend their strike ultimatum that they had previously issued to the federal government for two additional weeks.

On Tuesday, following a discussion with the members of the National Executive Council, the decision was shared with the public.

You may recall that the NLC had issued an ultimatum threatening to go on strike beginning from Wednesday, nationwide. As part of this threat, the NLC had planned to picket the various branches of the Central Bank of Nigeria.

It is, however, unclear whether a meeting between the leadership of the NLC and CBN that was called for by the Minister of Labour and Employment, Chris Ngige, was the impetus behind the decision to extend the ultimatum for an additional two weeks.

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The President of the NLC, Joe Ajaero, had admitted that the cash crunch situation had significantly improved, but that they needed to monitor the compliance of cash disbursement through the commercial banks for two more weeks. This is because they need to ensure that the cash is being distributed properly.

Festus Osifo, the president of the TUC, echoed Ajaero’s sentiments when he said that there was a need to benchmark the government. He was speaking not only about the shortage of cash, but also about the difficulties associated with fuel products and never-ending queues, as well as the price of electricity.

According to Osifo, the Central Bank of Nigeria (CBN) made a mistake when they allowed the confidence of the people in their monetary policy to be eroded; as a result, the CBN needs to restore the confidence of the people within the grace period of two weeks.

On Tuesday, President Muhammadu Buhari cut the ribbon on the first oil drilling operation at the Ebenyi-A Exploration Well. The well is located in the Middle Benue Trough in the Obi Local Government Area of the Nasarawa State.

In his speech during the well’s “virtual spud-in ceremony,” Nigerian President Muhammadu Buhari admonished the Nigerian National Petroleum Company Ltd. (NNPCL) and its partners to take appropriate precautions regarding the environmental effects of oil exploration activities and to take steps to mitigate the adverse effects.
It is important to remember that Governor Abdullahi Sule of Nasarawa State and Malam Mele Kyari, Group CEO of NNPCL, were among the individuals who performed the spud-in ceremony on behalf of President Buhari.
In addition to these notable figures, other dignitaries such as Mr. Gbenga Komolafe, Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), retired Justice Bage Muhammad, Emir of Lafia, and various royal fathers were present.

The President of Nigeria, Muhammadu Buhari, stated that the recent oil find was in line with ongoing campaigns for the exploration of crude oil and gas in the country’s Frontier Basins.
“The event that we are celebrating today is significant because it marks the official beginning of exploration drilling activities in the Middle Benue Trough.

“This is consistent with the commercial discoveries of hydrocarbons in the Kolmani Area of the Upper Benue Trough,” the researcher said. “This is consistent with the findings.”

“I am pleased to note that activities are currently underway to develop the Kolmani petroleum discoveries into commercial production in order to add to the substantial hydro-carbon assets held by the nation.

“I am encouraged by the enormous work done by NNPC Limited to exploit the prospects in the Middle Benue Trough, leading to the event of today,” he said. “I am encouraged by the enormous work done by NNPC Limited to exploit the prospects in the Middle Benue Trough.”

The President extended his gratitude to the NNPCL, the NUPRC, and all of the other partners for the significant contributions they made to ensuring the success of the exploration.

He expressed his happiness with the subsequent successful outcomes of the drilling campaigns, which he said would lead to increased prosperity for Nigerians and especially improve the country’s overall energy security. He also expressed his pleasure with the positive outcomes of the drilling campaigns.

Buhari went on to say that the communities that were close by would especially benefit from the value that would be created by the activities of exploration and eventual production.

He also thanked the government of Nasarawa and the people of Nasarawa, particularly the community that had hosted the exploration team, for their unrestricted support and collaboration, which contributed to the success of the exploration campaign.