Top 5 Stories Of The Day | ASUU Claims Students Loan is a Scheme to Enslave Nigerian Students

  • ASUU claims students loan is a scheme to enslave Nigerian students
  • Nigeria misses out of African countries with highest minimum wage
  • APC reacts to Obasanjo scolding tinubu’s implemented policies
  • World Bank disbursed $250,000 to 10 Nasarawa communities
  • Customs reduces FX for import duties to ₦1,480/$

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

ASUU claims students loan is a scheme to enslave Nigerian students

The Academic Staff Union of Universities (ASUU) Calabar Zone spoke up about the Nigerian government introducing a student loan which seeks to keep the financially incapable students indebted to them forever.

The Zonal Chairperson of ASUU, Dr Happiness Uduk, said it was disheartening to discover that people who attended schools on scholarship and enjoyed the grace of meal subsidies and bursary awards were imposing obnoxious policies on today’s students.

“Their Children are on scholarships in the best foreign universities in the world, but after siphoning our economy, they turn around to impose a strangulating Education Loan on taxpayers’ children so that they will be enslaved and remain indebted to the country forever,” she said.

Nigeria misses out on African countries with highest minimum wage

Minimum Wage

Nigeria, due to its history of offering low amounts as minimum wage for its citizens, has missed out on the list of ten countries with the highest minimum wage offers for its citizens.

With ₦30,000 currently Nigeria’s minimum wage, it is considered one of the lowest in Africa and the world. At the same time, Seychelles, with $465.4, is number one in Africa and 38th in the world.

The Nigerian Labour Congress (NLC) has been back and forth with the federal government as they request that the minimum wage be increased to ₦615,000 before reducing it to ₦497,000. In contrast, the government is rumoured to offer a new minimum wage of ₦57,000 despite the high cost of living in the country.

APC reacts to Obasanjo scolding tinubu’s implemented policies

The All Progressives Congress (APC) has responded to ex-President Olusegun Obasanjo’s comment on the way the incumbent President, Bola Ahmed Tinubu, is introducing and implementing his policies on Nigerian citizens and treating the Niger coup.

According to APC National Director Bala Ibrahim, he believed senility was becoming of the former Nigerian president, and these were the signs.

“Ever since he lost the bid to have a third term in office, he has consistently attacked every regime that comes after him. He sees himself as the only one who meant well for Nigeria from independence to date,” Bala said.

World Bank disbursed $250,000 to 10 Nasarawa communities

The World Bank, through Agro Climatic Resilience in Semi-Arid Landscape (ACReSAL), distributed a $250,000 revolving loan to ten weak communities in Toto and Doma local government areas in Nasarawa.

Dr Joy Iganya Agene, the Task Team Leader, ACReSAL, and Senior Environmental Specialist at the World Bank Nigeria Office, said there were 620 beneficiaries comprising 367 males and 253 females from five communities from the benefiting LGAs of the two LGAs.

“I am highly impressed with the modalities used for the selection. As a World Bank, we are here to implement one of our core value objectives, which is aimed at lifting people out of poverty and restoring land.”

Customs reduces FX for import duties to ₦1,480/$


The Nigerian Customs Service (NCS) has reduced the foreign exchange rates for import duties to ₦1,480/$.

According to data from the NCS portal, the new exchange rate crashed by 3.28%, falling from ₦1,530/$ to ₦1,480/$.

Simultaneously, the Naira appreciated ₦1,339/$ at the official foreign exchange market. The naira witnessed an intraday trading where it went as low as ₦1,501/$ and as high as ₦1,310/$ before settling at ₦1,339.

Unfortunately, the naira depreciated against the US dollar in the black market as it traded for ₦1,520/$, a 1.32% fall from its previous rate of ₦1,500/$.

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