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Inflation Hits 15.92% in March – NBS 

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By Tony Obiechina, Abuja 

The National Bureau of Statistics (NBS) has released the Consumer Price Index Report with the inflation index hitting a five-month high of 15.92 per cent in March 2022.

In the Report released by the NBS on Friday the 15.

92 per cent is the highest rate the country has recorded since October 2021.

The CPI was 15.60 per cent in January before moving higher to 15.

70 per cent in February this year.

The NBS said, “In March 2022, the Consumer Price Index, (CPI) which measures inflation increased to 15.92 percent on year-on-year basis.

“This is 2.25 percent points lower compared to 18.

17 percent, the rate recorded in March 2021. This means that the headline inflation rate slowed down in March 2022 when compared to the same month in the previous year.”

The report stated further that the Urban Inflation rate rose to 16.44 per cent year-on-year in March 2022, showing a decline of 2.32 per cent points from the 18.76 per cent recorded in March 2021.

Similarly, the report explained that Rural Inflation rose to 15.42 per cent in March 2022 with a decrease of 2.18 per cent points from 17.60 per cent recorded in March 2021.

On a month-on-month basis, the Urban Index rose to 1.76 per cent in March 2022. This, the Report noted, was up by 0.11 per cent points from the 1.65 per cent recorded in February 2022.

For the Rural Index, it said this rose to 1.73 per cent in March 2022, with 0.12 per cent point increase from 1.61 per cent recorded in February 2022.

“The corresponding twelve-month year-on-year average percentage change for the urban index was 17.10 per cent in March 2022.

“This was lower than 17.29 percent reported in February 2022, while the corresponding rural inflation rate in March 2022 stood at 16.00 percent compared to 16.18 percent recorded in February 2022,” it added.

The March inflation figure is in line with a similar increase recorded in the month of February following the rise in energy prices caused by the war between Russia and Ukraine.

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Mining Site  Collapses in Niger Community, Traps 30 Under ground. 

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From Dan Amasingha, Minna. 

A mine site  belongs to a company known as  “African Minerals and  logistics limited.” has collapse in Galkogo village of Shiroro local government area of Niger State killing one and trapping 30 others.

A Statement by the  Public 333Relations Officer of the Niger State Emergency   Management Agency, Mallam  Hussain Ibrahim  attributed  the collapsed  to the impact  of rainfall was that soften the soil.

 

At the time of filing this report, it was  gathered that one person has been confirmed dead, six people were rescued with severe injuries, while about 30,which includes the site manager,  Alh Ibrahim Ishaku were still trapped as of yesterday.

 

The rescuers have to run for their lives as the mine kept falling inside.Galkogo village of Shiroro LGA yesterday, 3rd of June 2024. 

Due to the un accessible  nature of the environment as a result of banditry,  the information of the incident is very scanty, including rescue operations. 

Meanwhile,  Director General of NSEMA Alhaji  Abubakar Baba Arah disclosed that excavators have been deployed for the rescue operations. 

The Agency is also in receipt of reports of persistant banditry activities at shiroro and Mashegu local Government Areas.

Meanwhile, a village called Adogo Mallam was attacked on Sunday, 2nd June 2024, six persons were kidnapped, while on Monday the  3rd  June,  2024, Tunga Kawo communities located 3 kilometres away from Erena of Shiroro LGA was attacked where over 20 persons were kidnapped with hundreds of cows rustled. 

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Labour Suspends Strike over Minimum Wage for One Week

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By David Torough, Abuja

The Organised Labour yesterday suspended its ongoing indefinite strike action for one week over a new national minimum wage and reversal of the recent electricity tariff hike.

A joint National Executive Council (NEC) meeting of both Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) has approved to relax the industrial action for one week with immediate effect.

It was gathered that the development followed a tentative agreement reached between the Federal Government and the Organised Labour on the new national minimum wage on Monday night with a resolution to further engage daily for the next one week at the level of the Tripartite Committee on National Minimum Wage until a final agreement is reached.

The Federal Government had assured the Labour leaders that President Bola Tinubu was committed to paying a new monthly minimum wage above the initial offer of N60,000.

This was disclosed late Monday night at the end of a marathon meeting convened by the Secretary to the Government of the Federation (SGF), George Akume, in furtherance to the negotiation by the Tripartite Committee on National Minimum Wage (NMW) and subsequent withdrawal of the Organised Labour from the negotiation table.

Members of the NLC and TUC earlier on Monday embarked on an indefinite nationwide strike to press home their demands for a new national minimum wage and reversal of the recent electricity tariff hike, a development that paralysed activities in both public and private sectors across the country.

In a statement issued at the end of the meeting endorsed by the Ministers of Information and that of Labour and Employment, Mohammed Idris and Nkiruka Onyejeocha, respectively, on the part of the Federal Government, and NLC and TUC Presidents, Joe Ajaero and Festus Osifo, respectively, on the part of the Organised Labour, the meeting agreed on a four-point resolutions as a pathway to ending the ongoing industrial dispute.

“The President, Commander-in-Chief of the Armed Forces, Federal Republic of Nigeria is committed to a National Minimum Wage that is higher than N60,000;

“Arising from the above, the Tripartite Committee is to meet every day for the next one week with a view to arriving at an agreeable National Minimum Wage;

“Labour in deference to the high esteem of the President, Commander-in-Chief of the Armed Forces, Federal Republic of Nigeria’s commitment in (ii) above undertakes to convene a meeting of its organs immediately to consider this commitment; and

“No worker would be victimised as a result of the industrial action,” the resolutions read.

In a statement issued at the end of the meeting endorsed by the Ministers of Information and that of Labour and Employment, Mohammed Idris and Nkiruka Onyejeocha, respectively, on the part of the Federal Government, and NLC and TUC Presidents, Joe Ajaero and Festus Osifo, respectively, on the part of the Organised Labour, the meeting agreed on a four-point resolutions as a pathway to ending the ongoing industrial dispute.

“The President, Commander-in-Chief of the Armed Forces, Federal Republic of Nigeria is committed to a National Minimum Wage that is higher than N60,000;

“Arising from the above, the Tripartite Committee is to meet every day for the next one week with a view to arriving at an agreeable National Minimum Wage;

“Labour in deference to the high esteem of the President, Commander-in-Chief of the Armed Forces, Federal Republic of Nigeria’s commitment in (ii) above undertakes to convene a meeting of its organs immediately to consider this commitment; and

“No worker would be victimised as a result of the industrial action,” the resolutions read.

Tinubu Gives Finance Minister 48 Hours to Present New Minimum Wage Template

Meanwhile, President Bola Tinubu has directed the Minister of Finance, Wale Edun, to come up with the cost Implications on the new minimum wage within two days.

Minister of Information and National Orientation, Mohammed Idris, made this known while briefing State House Correspondents after a meeting the negotiation team had with the president at Aso Rock, yesterday.

“All parties to the negotiation of the new minimum wage would work together with the organised labour to present a new minimum wage for Nigerians in one week.

“All of us will work together assiduously within the next one week to ensure that we have a new wage for Nigeria that is acceptable, sustainable and also realistic.”

Idris also disclosed that the President had given a marching order that all those who have negotiated on behalf of the Federal government and all those who are representatives of organised private sectors, the sub nationals to come together to have a new wage award that is affordable, sustainable and realistic for Nigerians

The minister said Tinubu was committed to accepting the resolutions of the tripartite committee on the new minimum wage.

“We were all there to look at all issues, and the president has directed the minister of finance to do the numbers and get back to him between today and tomorrow so that we can have figures ready for negotiation with labour. Let me say that the president is determined to go with what the committee has said, and he’s also looking at the welfare of Nigerians.

“The government is not an opponent of labour discussions or wage increases.”

The minister said the president directed that the committee should work together to give Nigerians an “affordable, sustainable, and realistic” minimum wage.

“All of us will work together assiduously within the next one week to ensure that we have a new wage for Nigeria that is acceptable, sustainable, and also realistic,” he said.

Secretary to the Government of the Federation, George Akume, had summoned labour leaders to an emergency meeting after the strike which crippled economic activities on Monday.

At the end of the meeting, it was announced that the Federal Government had offered to pay higher than N60,000 minimum wage.

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Tinubu Signs Old National Anthem Bill into Law

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President Bola Tinubu has signed the National Anthem Bill, 2024, into law seeking to return the old national anthem ‘Nigeria, We hail thee’ into law.

Tinubu, who then attended a commemorative joint sitting of the National Assembly, said he was at the hallowed chamber as a mark of respect and to congratulate the legislators and Nigerians on the 25th anniversary of Nigeria’s unbroken democracy.

He extended his gratitude to the lawmakers and acknowledged the efforts and sacrifices made to build and sustain the country’s democratic institutions.

“Our friends, old and new, to every Nigerian I say congratulations on 25 years of unbroken democracy.

Out of respect, I have come to say thank you very much for building up this institution to this level. You are the foremost leaders who speak for our people and have been at the forefront of this struggle,” President Tinubu said.

Highlighting the significance of the National Assembly, President Tinubu referred to it as a “hallowed chamber” that embodies the nation’s consciousness for freedom and solidarity.

“You sang out the latest national anthem, ‘Nigeria we hail thee’. This is our diversity, representing all people and how we pledge together to be brothers and sisters.

“Without this House, I probably would not have found a path to the presidency; I started it all from here. That is why I have given that respect to you this morning to continue to collaborate with you to build our country together. We have no other choice. No other institution or personality will help us, except we do it ourselves for ourselves.

“No amount of aid from foreign countries can help us. Let us work together to build our nation, charting a new path,” the President stated.

President Tinubu also emphasized the need to preserve and strengthen democracy for future generations.

“We must nurture our democracy so that our children and great grandchildren will be assured of prosperity, progress, and development,” the President concluded.

In his remarks, Senate President Godswill Akpabio said the President’s visit was out of respect for the National Assembly.

”Before you arrived, Mr. President, the Speaker and I had explained to the lawmakers that this visit is what is called ‘waka pass’ in Nollywood. 

”You intend to celebrate Democracy Day on June 12, but out of honour and respect for the National Assembly you said you must pass through the National Assembly on your first anniversary,” the Senate President said.

On Nigeria reverting to the old national anthem, Akpabio commended the President for taking the nation back to its roots stating: ‘‘Though we may belong to different tribes, though we have different tongues, in brotherhood we stand.’’

”There is no more fitting place to take us back to our genealogy other than the National Assembly, which is made up of patriotic and elected citizens of Nigeria. The voice of the National Assembly is the voice of Nigeria, so we welcome you,” the Senate President added.

Tinubu Tasks NASS on Collaboration with FG for Prosperity

President Bola Tinubu has urged the National Assembly to continue to collaborate with the Executive for further development of Nigeria and prosperity of the people

Tinubu said this when he addressed a Joint session of the National Assembly yesterday in Abuja.

“So please continue to collaborate, work together to build our country, we have no other choice, it is our nation.

” No one, no other institutions or personality will help us except we do it ourselves, no amount of aid that may be coming from foreign countries, or any other nation.

“Let us work together as we are doing to build our nation, not only for us but for our generations yet unborn, ” he said.

Tinubu also urged the lawmakers to: “Nourish this democracy, build this nation, so that the future of our great grandchildren will be sure of prosperity and progress.

“You are foremost leaders that speak for our people and you have been in the forefront of this struggle.Charting a new course and the question for development, I have submitted the last budget, you expeditiously passed it, we are walking the talk.

“I will soon bring the year 2024 supplementary appropriation bill.”

Tinubu commended the lawmakers for their efforts in sustaining democracy.

“This institution, the hollow chamber, represents the consciousness for freedom and sense of belonging.

“Without this house, probably, I may not find a part in the presidency, ” he said.

Responding, President of the Senate, Godswill Akpabio said, the National Assembly would be expecting the 2024 Supplementary Appropriation Bill for consideration.

2025 Appropriation Bill Ready soon –Tinubu

Meanwhile, President Bola Tinubu said that the 2025 appropriation bill would be ready before the National Assembly soon.

 “I will soon bring the 2025 appropriation bill before you; this is just for your information,“he said.

He urged the national assembly not to risk the democratic experience it had enjoyed so far.

”We must not risk this democracy. We must build this nation so that the future of our great-grandchildren will be secured in terms of prosperity and progress,“he said.

The president congratulated Nigerians for the 25 years of unbroken democracy.

“Out of respect, I come to say thank you very much for building on this stage, building the institution and the country.

”You are a first and foremost leader who speaks for our people, and you have been at the forefront of this.

“This institution of the hallowed chamber represents our consciousness of freedom and sense of belonging”, he said.

He said that the lawmaker just resounded the latest national anthem, “Nigeria, we hail thee” saying ”this is our diversity, representing all cradles and how we play together to be brothers and sisters.

“Without this house, I probably may not find the path to the presidency I started before now. That is why I am giving all the respect to you so please let’s continue to collaborate and work together,“he said.

The president said that no amount of aid from foreign countries would help to build the nation, and called on the lawmakers to work together to build the nation.

”This should not only be about you, but for the generation yet unborn and charting a new path for the citizenry.

Responding, the President of the Senate, Godswill Akpabio, said, “We will be expecting the 2025 appropriation as soon as possible.

Akpabio said that henceforth, members would refer to themselves as brothers, ”so today we say Nigeria, we hail thee”.

He said that there was no better place to go for the nation’s genealogy than the National Assembly.

“We look forward to celebrating Democracy Day on June 12. Whatever way you choose to celebrate with us, we will take it.” Akpabio said.

Also speaking, the Speaker of the House of Representatives, Rep. Tajudeen Abbas, described Tinubu as a true democrat and leader of the party.

“I want you to know that we at NASS are very happy with your performance, and we are thankful for the relationship that has existed between us. It has been mutually beneficial.

“We assure you that we will always support your noble objectives and collaborate with you. We thank you for bringing back the national anthem we grew up with.“By the time we sing it, you will understand why we must bring it back, line by line,” he said.

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