The Nation Newspaper

Category: Labour

NLC tackles Soludo

The Nigeria Labour Congress (NLC) has reaffirmed its commitment to constructive engagement and dialogue with the Anambra State Government to address the grievances of its workers.

The Congress in a statement signed by its President, Comrade Joe Ajaero, said: “We vehemently reject the blatant dissemination of falsehoods and overt attempts at blackmail, clearly orchestrated by the state government to divert public attention from the genuine grievances of Anambra workers against the government.

“It is imperative that we address the real issues raised by the NLC and TUC in their letter of ultimatum to the state government, which we were duly copied on at the national headquarters.

“We reaffirm our commitment to constructive engagement and dialogue with the government to address the grievances of workers in Anambra State.

“ It is important to emphasise that the NLC’s primary objective is to ensure the welfare and rights of workers are upheld.

Read Also: BREAKING: Soludo sacks 21 transition committee chairmen in Anambra

“We have received several complaints against the government of the state by its past and present leaders and have always deferred to the wishes of the leaders in the state as to the direction they may need our assistance.

“In this case, it should be noted that from our records that they had written your government letters of complaint on the issues they have canvassed as grievances and reached some understandings which the government has refused to implement.

“It was the refusal of the government that propelled the workers to issue an ultimatum to compel compliance with the laws of our nation.

“To this ultimatum, we have given our maximum support from the national leadership and have thus communicated to all of our affiliates to do the same in keeping with our traditions.”

The NLC maintains that constructive engagement and adherence to factual information are vital in resolving labour disputes.

Ajaero said: “Contrary to the assertions made by the state government, Comrade Ajaero’s remarks were not intended to disparage the efforts of Governor Chukwuma Charles Soludo or his administration. Rather, they were aimed at highlighting specific concerns regarding the implementation of labour-related policies and the resolution of vexatious issues affecting workers in the state.

“This is unlike the unwholesome outburst from the government, making wild accusations using the clearly well worn-out and obsolete cliches of a phantom 2027 political ambition as a cover.

“We think the government ought to show more respect and dignity to its workers and people by not allowing itself to be dragged into such desperate mudslinging in an attempt to divert public’s attention.

“As a Professor, we strongly believe that such gutter snipe ought not to have been allowed to proceed out of his administration.

“It is also imperative to address the discrepancies between the state government’s claims and the realities faced by workers on the ground. While the government highlights various initiatives and achievements, it is essential to recognise that there are still unresolved issues, including the payment of the 2019 National Minimum Wage, contributory pension deductions, and the cessation of special allowances including the Ndiolu Microfinance affair.

“That the government acknowledges that there are issues which it claims to be outstanding is rather being economical with the truth.’’

May 24, 2024
Resolving challenges of new minimum wage

The battle for the new minimum wage is still being waged as the government and labour have failed to reach an agreement. TOBA AGBOOLA reports.

THE seeming war on the new minimum wage between the governments and Organised Labour is far from over, as the two parties are yet to reach an agreement.

The Nigeria Labour Congress (NLC) and Trade Union Congress of Nigeria (TUC) last week walked out on the Federal Government’s team at an ongoing minimum wage negotiation meeting for proposing to pay workers a new minimum wage of N48,000.

According to some labour leaders, who were part of the meeting, the action was a non-verbal unanimous decision taken by their representatives.

To this end, Comrade Tommy Etim Okon, the National President of the Association of Senior Civil Servants of Nigeria (ASCSN), said: “We were furious and highly disappointed that at a time inflation rate and other factors caused by government policies are unleashing untold hardship on workers and the masses, representatives of the government could dare propose what they considered ‘wage reduction’ as a minimum wage.”

Read Also: Govt, Labour shift grounds in minimum wage talks

Workers on May Day (Workers’ Day) asked the Federal Government to pay them a living wage of N615,000. However, some government’s officials said the figure was unrealistic.The leaders of the organised labour explained how workers arrived at the figure.

President of NLC, Comrade Joe Ajaero and his TUC counterpart, Comrade Festus Osifo, said: “The impact of the economic policies enacted under this administration has been profoundly harsh, particularly for the most vulnerable in our society – the workers, the marginalised and those on fixed income.

Again, early this week, Labour rejected the N54,000 new minimum wage proposed by the Federal Government

The Federal Government had at a meeting with Labour proposed N54,000 as against its earlier N48,000 offer.

Last week, Organised Labour told the Federal Government to perish any thought of offering N100,000 as the new minimum wage.

It also asked the government to be serious with negotiations on workers’ wages, insisting that it used the lowest minimum in arriving at N615,000 as the new minimum wage.

According to one of the labour leaders, who spoke with The Nation on condition of anonymity and who attended the follow-up meeting on Tuesday, said the Federal Government upped its offer from N48,000 to N54,000.

“Well, during the meeting, the government increased its offer from N48,000 to N54,000. However, labour rejected that offer and the meeting has been adjourned till Wednesday,” a source who asked not to be named said.

When asked if the government’s side was showing any sign of seriousness, the labour leader said: “No seriousness at all. Even governors did not show up. Those who represented them, like Bauchi and Niger states, did not have the mandate to speak on their behalf.

“As regards the private sector, we did not get to them before the meeting was adjourned but we hope they also increase their initial offer.”

Earlier, Organised Labour reiterated its May 31, 2024 deadline for the implementation of the new minimum wage.

Ajaero insisted on the N615,000 minimum wage, arguing that the amount was arrived at after an analysis of the economic situation and the needs of an average family of six.

He blamed the government and the OPS for the breakdown in negotiation, saying: “Despite earnest efforts to reach an equitable agreement, the less than reasonable action of the government and the Organised Private Sector has led to a breakdown in negotiations.”

In a statement at the end of the NEC meeting by the NLC and TUC, which was signed by Ajaero and Osifo, the unions said they acknowledged the negotiations between the NLC/TUC, the Organised Private Sector and the Federal Government on the new minimum wage.

However, the NLC and TUC emphasised the urgency of reaching a fair agreement that reflects the true value of workers’ contributions to the nation’s development and the crisis of survival facing Nigerians as a result of government’s policies.

They affirmed their commitment to ensuring the welfare of workers.

President Bola Tinubu, through his deputy, Kashim Shettima, on January 30, this year, inaugurated the 37-member Tripartite Committee on Minimum Wage to fix a new wage ahead of the expiration of the N30,000 wage on April 18. Its membership cut across Federal and state governments, the private sector and Organised Labour.

During their inauguration, Shettima urged the members to “speedily” arrive at a resolution and submit their reports early.

Governors warned against unrealistic demands from Labour and urged the committee to consider their capacities to pay.

Meanwhile, both the government and labour have shifted grounds. At a meeting in Abuja on Wednesday, while labour came down to N497,000, the government proposed N57,000.

But the meeting, which was attended by Edo State Governor, Godwin Obaseki; his Imo State counterpart, Hope Uzodimma and Anambra State Governor, Prof. Charles Soludo (via Zoom) ended in a deadlock.

It was adjourned till next Tuesday.

May 24, 2024
Poor allocation hindering our plans, says Labour ministry

As ministries, departments and parastatals of the Federal Government strive to implement the President Bola Tinubu’s Eight-Point Agenda, which includes mass job creation, poor budgetary allocation has been identified as a major factor hindering the Federal Ministry of Labour and Employment from carrying out employment-driven programmes that would engage the country’s teeming unemployed youths.

Making this known to reporters in Abuja, the ministry’s Permanent Secretary, Ismaila Abubakar, said they were poised to make greater impact in the lives of Nigerians through the government’s Agenda, which is committed to ensuring that employment opportunities are created for unemployed Nigerians.

Read Also: TotalEnergies to empower young entrepreneurs in Nigeria, 31 African countries

He said the ministry is geared to go beyond the conciliation of industrial crisis between the Federal Government and labour unions to playing a bigger role in enhancing the growth of the economy.

Abubakar hinted that the recently launched Labour Employment and Empowerment Programme (LEEP), is one of the innovative ideas initiated by the Minister Labour and Employment, Nkeiruka Onyejeocha, aimed at developing various employability skills for young graduates, school leavers and artisans, among others.

He, however, reiterated poor budgetary allocation is a major constraint.

Abubakar said: “At the moment, our skill acquisition centres across the country are dilapidated and in need of major facelift. These centres are the hub for training young and old Nigerians on agro-allied value chain development, information communication technology, crafts, entrepreneurship and other critical skills that will advance their fortunes in life.

“With the sort of allocations received by the ministry, it is difficult and almost impossible to revive these centres.”

May 10, 2024
Minimum wage: NECA warns labour, governors

The Nigeria Employers’ Consultative Association (NECA) has called on the Organised Labour and governors to sheathe their swords and wait for the Tripartite Committee on the National Minimum Wage to finalise its assignment.

Speaking in Lagos, the Director-General (DG), Adewale Smatt Oyerinde, who made the declaration following the media dispute between Organised Labour and some governors on the National Minimum Wage, said: “We are concerned with the ongoing worrisome pattern of accusations and counter-accusations between governors and organised labour on the issue of the National Minimum Wage. It is unfortunate.

“It is instructive to note that the Tripartite Committee that was constituted to negotiate the National Minimum Wage is yet to finalise its assignment and waging a war or negotiating on the pages of newspapers could be counterproductive for stakeholders.

Read Also: Why we proposed N615k as minimum wage, by NLC boss Ajaero

“This seeming war of attrition on an issue that is programmed to be respectfully negotiated and consensus reached is not only unnecessary but also disrespectful to the entire Technical Committee.”

While expressing concerns at the slow pace of the National Minimum Wage negotiation, the NECA DG said the committee is worried over the recent adjournment of the meeting.

He said: “This protracted delay has the potential to further promote agitation and fester distrust among stakeholders.

“We urge the government to, without delay, recall the Tripartite Committee to continue its assignment as soon as practicable.”

On the recommendations of the Organised Private Sector of Nigeria, Oyerinde averred that employers were in support of a new National Minimum Wage, as an increase in wages could also promote economic activities, stimulate consumption and enhance the capacity utilisation of businesses.

“However, such an increase must take into cognizance of the parameters as enshrined in International Labour Organisation (ILO) Minimum Wage Fixing Convention 131 of 1970, which includes the needs of workers and their families and economic factors.

“An appropriate balance between these two sets of considerations is important to ensuring that minimum wages are adapted to the national context, and that the effective protection of workers, level of productivity, ability to pay and the development of sustainable enterprises are taken into account,” he said.

May 10, 2024
NLC flays CBN’s cyber security levy

The Nigeria Labour Congress (NLC) has criticised the recent directive of the Central Bank of Nigeria (CBN) to collect a 0.5 per cent Cybersecurity Levy on electronic transfers.

In a statement signed by its President, Comrade Joe Ajaero, the NLC said the levy, which is to be implemented through deductions at the point of origin of a transaction, is another burden on Nigerians.

In a circular, the CBN had mandated banks and payment service operators to affect these deductions, with effect from the next two weeks.

He said: “This move, ostensibly aimed at bolstering cybersecurity measures, threatens to exacerbate the financial strains already faced by the populace.

“NLC recognises the importance of cybersecurity in the digital age. However, imposing such a levy on electronic transactions, without due consideration for its implications on workers and the vulnerable segments of society, is unjustifiable.

“This levy stands as another tax too much for Nigerians, burdening them with additional financial responsibilities.

Read Also: NLC, TUC give NERC three-days ultimatum on tariff hike

“We see in this levy another gang up by the ruling elite to continue its extortion and exploitation of hapless and helpless workers and the masses so that their cronies in various financial centres can continue wallowing in unbridled consumption.

“During our last May Day speech, we called on the government to prioritise the welfare of workers and masses in their policy directions and actions instead of profit seeking that unleashes more pressures on the people.

“We wonder when it has become a crime for the people to save their meagre incomes in the banks and whether it is the intention of the government to encourage people to resort once again to keeping cash and using cash transactions instead of electronic transfers which has seem to have become an undoing for the people”?

Ajaero said domestic manufacturers and other businesses are already shutting as a result of the stifling socio-economic environment, yet instead of creating a business-friendly environment to encourage greater investments in the economy, the opposite seems to be what is being practised.

“How can you attract foreign investment when you make the business environment difficult? Moreover, the threat of fines amounting to not less than two per cent of an institution’s yearly turnover for non-compliance adds further pressure on financial institutions, potentially leading to a trickle-down effect on consumers.

“Definitely the businesses will pass down these costs to consumers which will lead to further inflation in an economy that is already in the grips of hyper-inflation.

“How would domestic manufactured goods and services remain competitive in the midst of these costs and how would the businesses expand capacity thus employ more Nigerians when they cannot sell their products because of high prices?

“The revenue raised in the past has not helped in making lives better for the citizenry nor have they been seen in better infrastructural provisions. Extracting this levy from the people who are already ‘kwashiorkor-ed’ by government policies to throw money at cybersecurity will not make our cyberspace better just like it has been our experience in the past.

“We see this as a levy that will inflict severe social security on workers and masses.This directive comes on the heels of the recent implementation of stamp duty charges on mortgage-backed loans and bonds by the Federal Government, further straining the financial resources of Nigerians,” Ajaero added.

May 10, 2024
Labour asks Fed Govt to expose cabal behind petrol scarcity

The Association of Senior Civil Servants of Nigeria (ASCSN) has urged the Federal Government to deal with the cabals that hold the oil sector to ransom.

President of ASCSN, Dr. Tommy Okon, who spoke during the Association’s National Executive Council (NEC) meeting in Lagos, lamented that the perennial fuel scarcity and long queues at filling stations are holding the economy down and compounding the sufferings, and difficulties confronting Nigerians, especially workers.

“The government needs to walk the talk. The cabal in Nigerian National Petroleum Corporation Limited (NNPCL) needs to be unbundled because there is no other moral justification. If you continue to do the same thing all the time and you expect that you are going to get a different result, we are far from it. The public outcry about the NNPCL, whether it is limited or not, as far as the cabals in that sector remains unshakable, there is no way we can address this situation. The masses are suffering, the workers are suffering, the informal economy is suffering. No light, no fuel,” Okon said.

Read Also: ‘Give Tinubu kudos for Kwara projects’

He said it is unfortunate that Nigerians are still going through another round of hardship caused by fuel scarcity even after the subsidy was removed from petroleum products.

Okon, who is also the Deputy President, Trade Union Congress (TUC), said: “Organised Labour is very disturbed because of the government’s assurances that the Port Harcourt Refinery would begin operations in April and also when Dangote Refinery begins operation, the challenges on landing cost of petrol to marketers would stop and the issue of subsidy would be a thing of the past, have not materialised.This is May, why are we still going back and forth? This is a policy somersault and this is bad.The government or the Nigerian National Petroleum Corporation Limited (NNPCL) should come out clean and tell us the truth. Are they still paying subsidies? Let it come out from their (government) mouth and let us know rather than speculating.

“As of now, there is nothing in place to cushion the effect, not even the CNG buses they promised. Today, the NNPCL is giving us a story about a logistic problem. What kind of logistic problem are we talking about? If they are bereft of ideas, let them excuse themselves, withdraw the service and let the new people come with ideas to run the petroleum sector and the economy.”

On the proposed N615,000 national minimum wage by labour, Okon insisted that it is a realistic demand, challenging those opposing Labour’s demand to make their proposals public.

His words: “We have set the template, we have done the variables, and we have presented our demand. That is our position. There are exemptions and when the time comes we will see. What we want is for the government to do the needful and remember that by the time we came up with the figure, there was no hike in electricity tariff.’’

May 10, 2024
May Day: Workers await new minimum wage

As workers join their counterparts globally to mark the International Workers’ Day, known as May Day, the minimum wage increase, among others, will top wishes of the workers. TOBA AGBOOLA writes.

Workers are gearing up for the May Day celebrations with high expectations, particularly on the long-awaited increase in the national minimum wage.

Workers’ expectations extend beyond just a wage increase. They hope for additional measures from the government to address the economic challenges they face.These measures could include incentives to offset the effects of recent policies and initiatives to strengthen the purchasing power of Nigerians.

Theme,’ People First ‘, the Organised Labour will expect the government to use the opportunity offered by the occasion to address the worsening poverty, insecurity, unemployment, inflation, high cost of living and frustration in the nation.

They asked the government to stabilise the falling naira, make the economy attractive to foreign investors and friendly to small businesses, and improve the living conditions of citizens, among other demands.

Negotiations between organised labour and the government on the minimum wage and other relief measures will also be watched in the coming days.

NLC to govt: pay new minimum wage

Aside from demanding a new minimum wage, the Nigeria Labour Congress (NLC) is also asking for the creation of state and local government police to tackle insecurity.

The congress also stressed that states and local governments, as well as the organised private sector, must pay the new minimum wage when it is eventually approved.

According to the NLC President, Comrade Joe Ajaero, Nigerians had become scavengers due to the rising economic hardship.

He said several incidents of attacks and looting of warehouses and food trucks had been reported in many cities against the backdrop of the hardship and the cost of living crisis.

Ajaero, however, noted that the government must fulfil its promises and responsibilities to Nigerians, instead of pretending to be deaf to their pleas

The NLC president said: “Food has become so scarce that Nigerians have become scavengers and resorting to raiding food trucks and warehouses for food. If those in the government cannot see the danger in what is happening, we see it and must ensure that the government fulfils its duties to the people.

“We are increasingly going hungry in our father’s land and cannot continue in this destitution. The greatest unifier and mobiliser of people is hunger. It insults common sense when those in government assume that somebody is sponsoring people who are protesting because of hunger.”

He urged the Federal Government to remove impediments on healthcare workers’ paths to migrating to greener pastures.

Ajaero said their removal was imperative due to the unfortunate socio-economic situation confronting workers and, indeed, the masses.

Also, the Head of Information, NLC, Comrade Benson Upah, said the congress is expecting the dividends of good governance from this administration.

“To mark this year’s Workers Day , our expectations are good governance, strong institutions, more accountability, less corruption, respect for law and order by the government, more citizen participation in governance, lower exchange and inflation rates, higher standard of living for the citizens, and renewed hope in the country,” Upah said.

He noted that the government must resist the urge to make Nigeria a one-party state, adding that such would have dire consequences for the country.

“The government should resist the urge to make Nigeria a one-party state. Our history teaches us that there are usually dire consequences for such political greed or inordinate political ambition,” Upah added.

TUC: pass attention to new minimum wage

The Trade Union Congress (TUC) called on the Federal Government to use the Workers’ Day celebration to anounce a new minimum wage to tackle the rising cost of living.

According to the TUC President, Comrade Festus Osifo, since the removal of fuel subsidy, the cost of living has spiked and inflation figures pushing new highs in Nigeria.

Osifo said a new minimum wage was part of the solutions proffered by the union to address the hardship.

He said the intability in the FX market had further eroded the value of the minimum wage.

The TUC leadership called for the passage and implementation of a new minimum wage law that reflects the economic realities.

He recommended a further clamping down on currency speculators, especially those online, who they say have made remittances from abroad drop.

Osifo also proposed that the government should review taxes on some critical imported goods to ease the hardship.

The TUC chief blamed insecurity for the rise in the cost of foodstuff, noting that many farmers have not gone to their farms. Thus Osifo also called on the three tiers of government to invest on decent work to save the economy from ruin

He said: “The seismic impact of the COVID-19 pandemic has exposed vulnerabilities in our societal and economic fabric, worsened by soaring food and energy costs, extreme weather events, and conflicts.

“This confluence of factors inflicts hardship on countless Nigerians, intensifying poverty, exclusion, and inequality.

“We call on governments at all levels, the federal, states and local government to invest in decent work and social justice because for now the dream of social justice remains distant for too many. In the quest for a better life, unsafe working conditions stands as a fundamental pillar.

“With the dwindling public resources, the fiscal and monetary authorities should initiate policies to boost the activities of the private sector because the sectors’ investment would be a solution for bridging funding gaps and unlocking infrastructure projects, leading to innovation, job creation, and stimulating economic activity”.

National Vice President, TUC, Tommy Etim emphasised the importance of May Day for workers, calling it a “day of great anticipation”.

He highlighted concerns about the impact of recent government policies on the welfare of workers, particularly rising poverty.

Read Also: Minimum wage: Harmonised package to be ready May 29

He noted that there were lots of expectations, particularly since some of the newly initiated policies of the government had continued to push more Nigerians into poverty.

Etim emphasised the urgent need for a new minimum wage to counter rising living costs.

Earlier in the month, organised labour had pegged the new minimum wage at N615,000 per month tentatively.

He said: “The Workers’ Day is a type of Christmas Day to workers and there are lots of expectations. The welfare of workers is paramount and should be taken into consideration. It is also expected that lots of incentives will be rolled out to cushion the effects of the policies initiated by the government, which have continued to limit the purchasing power of workers and Nigerians as a whole.

“At present, the purchasing power is weak in the country. It is also expected that a new minimum wage will be announced on that day. Workers are looking forward to that. Also, we expect that the government finally use the opportunity to launch the CNG buses which it promised over a year ago. These are our expectations.”

Civil servants react

Speaking with The Nation, a civil servant in Lagos, Mr Tola Oni, urged the Federal Government to consider salary adjustment and welfare improvement in the year.

He added that civil servants would anticipate such reviews from the government and implement measures to enhance their overall welfare, considering the inflation and the high cost of living.

He said: “We want the government to review and adjust the salary structure because of the inflation and the high cost of living. We also want them to implement policies that will improve our welfare, including healthcare and housing benefits.”

Another civil servant, who identified herself only as Faramade, suggested the continuous training of government’s workers.

She noted that opportunities must be created to enhance the skills and capabilities of civil servants and ensure that they were well-equipped.

Another civil servant, Gabriel Akpan, said the government should increase salaries and regularise the prices of commodities.

He said: “Things are so expensive.The government should regularise the prices of commodities, and invest in infrastructure, particularly roads.”

IT experts seek cyber crime law enforcement

An Information Technology (IT) expert, Mr Anthony Udo said the Federal Government should enforce more stringent regulations and standards to boost cyber security and tame the rise in the rate of cyber threats.

He noted that the government should work on expanding technology infrastructure like broadband connectivity to support the growth of the digital economy.

He added: “Our expectations include increased government investment in improving and expanding technology infrastructure, such as broadband connectivity to support the growth of our digital economy.

“The government should also foster a more tech-savvy population by promoting digital literacy initiatives to empower the people.”

Another IT expert, Chidinma Uche, corroborated Udo’s stance, saying their expectation from the government was to introduce policies and programmes to enhance further innovation, entrepreneurship, and the growth of tech start-ups, adding that this would contribute to job creation and economic development in the technology sector.

Mr Ibrahim Mukhtar, who is also an IT expert, said the Federal Government should ensure that pressing issues were addressed.

He said: “My expectations from the Federal Government revolve around fostering inclusive and sustainable development.

“I anticipate a commitment to addressing pressing issues such as healthcare, education, and environmental concerns.

Specifically, I hope for policies that promote accessible and quality healthcare for all, initiatives to enhance educational opportunities, and a strong dedication to environmental conservation.

“Additionally, I look forward to transparent governance, economic policies that prioritise job creation, and efforts to bridge socio-economic disparities. Ultimately, my expectation is for a government that actively engages with the diverse needs of its citizens, ensuring a brighter and more equitable future for the nation.”

A schoolteacher, Mrs Adekoya Eunice, said the welfare of the masses should be the main focus of the government.

She said, “The Federal Government should pay attention to the welfare of the masses. First, there should be a significant increase in the salaries of civil servants and government workers.

“Security in the country should also be improved so that Nigerians can sleep well at night. The Federal government should also make sure that commodities become affordable.”

April 26, 2024
NUBIFIE pickets Heritage Bank over sack of 1,000 workers without exit claims

The National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE) yesterday protested at the head office of the Heritage Bank in Victoria Island, Lagos over the alleged wrongful disengagement and refusal to settle severance benefits of about 1,000 exited workers.

The leaders and members of the union, chanting solidarity songs, expressed their dissatisfaction at the plight of the workers.

With placards bearing, “CBN call Heritage Bank to order”, N90,000 benefits for 15 years service is dehumanising “, Banking is not slavery, stop dehumanising workers,” “Stop your anti-union policy,” the protesters demanded that the affected workers should be well-compensated.

Addressing the gathering, the President of NUBIFIE, Comrade Anthony Abakpa, said despite the union’s efforts to seek justice for the workers through negotiation and dialogue, the bank terminated their employment without following due process and failed to provide documentation of severance benefits paid.

Read Also; Tinubu’s economic reforms yielding results, says Alake

Abakpa emphasised that these employees had served from 14 to 18 years, and criticised the bank for leaving them without any compensation, calling it “exploitation and injustice of the worst order.”

“The bank paid stipend of N90, 000 for a worker that have served them for more than l5 years. This is a criminal act and we cannot take it any longer . We will continue with these activities until our demand is met,” he said.

General Secretary of the union , Comrade Sheikh Mohammed, said their action was based on the wrongful retrenchment of workers without following due process.

He reiterated that the bank refused to settle severance benefits of the affected workers who are members of the association.

“We shall not hesitate to deploy our networks and contacts to mobilise affiliate trade unions and workers towards protecting the rights and privileges of our members in this institution,” he threatened.

Responding , the Head of human Resources of the bank, Mother Dan Egwu said the severance benefits and pension of the affected workers had been paid through the service providers, who according to her, their contract with the bank had also been terminated.

She, however, said the bank was ready to engage with the union to resolve the problem.

April 19, 2024
Economy revival: NECA calls for more supplementary measures

Nigeria Employers’ Consultative Association (NECA) has called on the Federal Government to adopt a holistic approach to address inflationary pressures and promote economic stability.

This, according to NECA, includes the implementation of prudent monetary and fiscal policies to address supply-side constraints, enhance productivity, and stimulate investment in critical sectors such as agriculture and infrastructure.

In a statement, the Director-General, NECA, Mr Adewale Smart Oyerinde, noted that while the tightening measures of the Central Bank of Nigeria (CBN) have led to the recent appreciation of the naira, there is, noticeable a decelerating increase in the recent inflation figure

He said with time and the introduction of supplementary measures from the fiscal authority, addressing supply chain fundamentals, the inflation figure would begin to decline.

Read Also; JAMB: 577 blind candidates to write 2024 UTME

He said: “Despite currency appreciation typically dampening inflation by reducing import costs, other factors are exerting stronger upward pressure on prices.

“Supply chain disruptions, logistical challenges, and rising production costs continue to drive up prices across various sectors, amplifying inflationary expectations.

“However, there is hope that once the Dangote Refinery commences production and distribution of petroleum products, transportation costs and other production expenses will significantly reduce.

“Additionally, fostering a conducive business environment, encouraging innovation, and promoting competition can help mitigate inflationary pressures in the long term.”

Oyerinde urged the government’s intervention at all levels to address factors disrupting food supply, support domestic firms to boost local production, and synergise monetary and fiscal policies effectively to combat inflation.

April 19, 2024
‘How innovation, creativity can address unemployment’

Unemployment remains one of the perennial problems confronting developed and developing economies.

However, this is relatively lower in developed countries, in comparison to the developing ones, where creativity and innovation form the driving force behind advancement in all sectors. No country or business organisation can achieve great success without creative and innovative ideas.

Experts believe that Nigeria represents one of the developing countries that have shown a resolve to entrench sustainable digital entrepreneurship powered by creative and innovative ideas, across all sectors of the economy.

Speaking with The Nation on the importance of creativity and innovation, the Associate Director, Mediacraft Associates, Olaotan Fawehinmi, said rising unemployment and employability problems in the country would be solved by creating digital entrepreneurs that are employers and wealth creators.

He said there was the need for substantial investments and a shift in focus towards education, research, infrastructure, and exposure to bring about change.

Read Also; Tinubu’s economic reforms yielding results, says Alake

Fawehinmi, a marketing communications expert, said: “Innovation and creativity are essential for Nigeria’s economic development and global competitiveness. However, Nigeria lacks a supportive ecosystem for innovation and creativity, and there is a need for substantial investments and a shift in focus towards education, research, infrastructure, and exposure to bring about change.

“Innovation drives growth by generating new products, services, and processes or refining existing ones, which is particularly crucial in Nigeria’s highly competitive market due to its large population.

“Businesses must be innovative and creative to maintain a competitive edge, adapt to changing demands and stay ahead of the curve.

“Innovative ideas often lead to the creation of new businesses and industries, thereby generating job opportunities.

“Socio-economic challenges such as limited access to healthcare, education, energy, and infrastructure require innovative solutions to address them.

“Innovation and creativity are crucial to attracting domestic and foreign investment, stimulating economic development, and generating wealth”.

Speaking on ways innovation and creativity can address issues like youth unemployment, rural-urban migration, and economic inequality within Nigerian society, he said vocational training could equip youths with relevant skills for the job market.

According to him, creativity in curriculum design could make learning more engaging and practical, preparing youth for various employment opportunities.

“Embracing technological innovations can create new industries and job opportunities. Rural areas will benefit from investments in digital infrastructure and the promotion of tech literacy. Innovation in agricultural practices can improve productivity and profitability in rural areas, reducing the dependence on urban centres for livelihoods.

“Creativity in social programmes and policies can address economic inequality by targeting marginalised communities and providing them with opportunities for advancement. Initiatives like microfinance, community development projects, and social entrepreneurship can empower disadvantaged groups and bridge the economic gap.

“Investing in creative industries such as arts, entertainment, fashion, and media can generate employment opportunities and contribute to economic growth. Innovation hubs, coworking spaces, and collaborative platforms can facilitate knowledge sharing, networking, and collaboration among entrepreneurs and innovators,” he further said.

Fawehinmi said incorporating innovation and creativity into practical skills acquisition is vital for youths to effectively compete in the dynamic job market and for progress, entrepreneurship, and adaptability.

He said it enables individuals to identify challenges and devise practical solutions, thus enhancing their employability and entrepreneurial endeavours.

He added: “Parents and educators should encourage children to ask questions, explore new ideas, and engage in hands-on activities.

“This approach accommodates their curiosity and helps them develop the capacity to innovate and think creatively, empowering them to recognise gaps and develop innovative products or services to address societal needs.

“Some parents may have concerns about their children pursuing entrepreneurship due to perceived risks and academic pressures.”

Speaking further, Fawehinmi said Nigeria’s economy has traditionally relied heavily on oil, leaving it vulnerable to fluctuations in oil prices.

He said innovation across various sectors, such as technology, agriculture, manufacturing, and services, will help build more resilient economic foundations.

“These innovation-driven sectors and knowledge-based industries, including technology, research and development, and creative industries, have the potential to create more jobs and reduce dependency on oil.

“Increased investment in these areas is crucial. Innovation can lead to the development of new technologies, processes, and products, enhancing productivity and competitiveness, attracting foreign investment, boosting exports, and elevating Nigeria’s position in the global market.

“Entrepreneurs empowered by innovation and creativity can address societal challenges with new business ideas.

“Access to funding, a supportive regulatory environment, and business development services are essential for their success.

“Innovation needs a robust infrastructure, including reliable power supply, internet connectivity, transportation networks, and research facilities,” he noted.

Other promising sectors, according to Fawehinmi, are entertainment and creative industries (content creation, digital distribution platforms, fashion tech, creative entrepreneurship), education technology (e-learning platforms, educational apps, tools for teacher training and student engagement), and financial inclusion (mobile payment platforms, microfinance services, peer-to-peer lending, block chain-based financial products).

He said these sectors represent just a glimpse of Nigeria’s vast potential for innovation and creativity.

April 19, 2024