NLC President Demands a Raise in Minimum Wage to ₦1m | 5 Things That Should Matter Today

  • Lawmaker proposes bill seeking the creation of three new states in SouthWest
  • Access Holdings appoints Bolaji Agbede as acting CEO
  • Governors and NSA collaborate to fight food and insecurity crisis in Nigeria
  • The naira dwindles against the US dollar at the official market
  • NLC President demands a raise in minimum wage to ₦1m

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss.

Lawmaker proposes bill seeking the creation of three new states in SouthWest

A fresh bill proposing the creation of three new states within the Southwest was proposed by Oluwole Oke, a lawmaker representing Obokun/Oriade Federal Constituency, Osun State.

In the draft bill, the lawmaker posited that there be a creation of new states and a reduction of local government areas as part of the proposed amendment of the 1999 constitution.

He meticulously broke down the arrangement of these new states, naming them “Oke-Ogun State, Ijebu State and Ijesa State”, each with their allocated numbers of local government areas.

Access Holdings appoints Bolaji Agbede as acting CEO

The death of the Access Holdings CEO, Herbert Wigwe and his family shook the entire nation, leaving his group with the difficulty of choosing his replacement.

After many board meetings and voting, Access Holdings Plc announced its acting CEO, Ms Bolaji Agbede.

Ms Agbede joined Access Bank in 2003 as an Assistant General and has dedicated her time and years, spanning over three decades in the industry and with the company.

Governors and NSA collaborate to fight food and insecurity crisis in Nigeria

Nigerian governors and National Security Adviser (NSA) have banded together to combat the growing food and insecurity crisis in the country.

The NSA, Mallam Nuhu Ribadu, suggested that the federal government was considering establishing a committee for police reforms.

At the same time, governors of the People’s Democratic Party (PDP) have demanded the creation of state police, citing the security challenges they encounter within their jurisdictions.

The naira dwindles against the US dollar at the official market

Naira

The year 2024 is not a good record for the Nigerian economy as the naira depreciated to an all-time low in the official market, trading at ₦1,534/$ on the Nigerian Autonomous Foreign Exchange Market.

This devaluation represents a 3.93% drop from the previous trading rate, which was ₦1,476/$. At  ₦1,534/$, this has become the worst and lowest trading rate for Naira in the official market.

In the black market, the naira has been trading at ₦1,480 or ₦1,490 per US dollar.

NLC President demands a raise in minimum wage to ₦1m

NLC President Joe Ajaero, in an interview with Arise TV, shared his thoughts concerning raising the minimum wage for all Nigerian workers.

The leader of Organised Labour stated that the federal government should approve increasing the minimum wage to a million naira (₦1 million) as long as the naira refuses to rise against the US dollar, causing a further increment in the cost of living.

The Nigerian Labour Congress (NLC) and Trade Union Congress (TUC) once agreed to the increase of minimum wage being pegged at ₦200,000; however, the recent argument by Joe Ajaero dismantled the previous claim.

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