Sanwo-Olu Slashes Transport Fares By 25% and Introduces Work-from-home for Civil Servants | 5 Things That Should Matter Today

Sanwo-Olu
  • Sanwo-Olu slashes transport fares by 25% and introduces work-from-home for civil servants
  • House of Representatives moves to ban sports betting
  • IMF predicts next dollar-to-naira exchange rate in 2024
  • Gas suppliers plead with FG to reduce exchange rate as 1kg hits new prices
  • Niger State charter of the NLC suspends strike after reaching agreement with FG

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

Sanwo-Olu slashes transport fares by 25% and introduces work-from-home for civil servants

Sanwo-Olu

The governor of Lagos State, Governor Babajide Sanwo-Olu, announced a 25% slash in government-owned transport systems for all Lagos residents, taking into cognisance the inflation and high cost of living of all Nigerians.

The governor spoke to a few Nigerians about the new development, also mentioning that his administration was considering introducing a work-from-home scheme for all levels 1 to 14, suggesting that they would only physically come to work for three days a week.

“Not that any form of government will be shut down; it will all be calendarised and on schedule. Levels 15 to 17 will miss work a day,” he said.

House of Representatives moves to ban sports betting

Kelechi Nwogu, a member of the House of Representatives, proposed a bill to prohibit the participation and existence of sports betting platforms like Bet9ja, 1xBet and more.

The lawyer (PDP-Rivers) requested that the National Lottery Regulatory Commission ensure compliance with the Lottery Regulatory Commission Act 2005.

However, the news of this proposed bill was negatively received by Nigerians as a lawyer suggested that it would not fly as many Nigerians depended on sports betting to pay their debts.

IMF predicts next dollar-to-naira exchange rate in 2024

IMF

The International Monetary Fund (IMF) released a report indicating the next US dollar to naira exchange rate judging by the economy and the recent track in which the naira has devalued immensely in the charts.

According to the IMF, the naira is expected to drop to ₦2,081/$ in the official exchange market before the year ends.

This report was revealed in the IMF’s Financing Assessment and Staff Report on its website. This devaluation of the Naira will cause a catastrophic series of events, including a temporary halt in local production.

Gas suppliers plead with FG to reduce exchange rate as 1kg hits new prices

Gas cooker

The National Oil and Gas Suppliers Association of Nigeria (NOGASA) have pleaded with the Nigerian government to revert the US dollar to naira exchange rate to ₦750/$, claiming the reason for the increase in gas prices (₦1,500/kg) now is the dollar rate.

The NOGASA chairman, Benneth Korie, stated that the rising price of diesel and the exchange rate was the cause of the increase in fuel prices.

According to Leadership, the NOGASA Chairman suggested they would likely go on strike if their requests were not met before the end of February.

Niger State charter of the NLC suspends strike after reaching agreement with FG

NLC

The Niger State chapter of the Nigerian Labour Congress (NLC) has reached an agreement with the federal government and chose to suspend the strike a day after it began.

The suspension of the meeting was announced after the organised labour had a meeting with its counterpart Trade Union Congress (TUC) and the SEC.

The Niger State charter claimed that they had reached an agreement with the government as every worker in the state and Local Government Areas (LGA) will now be paid an additional ₦20,000 wage in March.

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