Top 5 Stories Of The Day | FG Announces Effective Date For New Minimum Wage

  • FG announces effective date for new minimum wage
  • House of Representatives assures Nigerians of an end to fuel scarcity
  • President Tinubu approves of salary increase for civil workers
  • Minister of Works attacks Peter Obi for allegedly inciting the people against FG
  • Central Bank of Nigeria increases Customs exchange rate

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

FG announces effective date for new minimum wage

Minimum wage

The federal government has announced that the new minimum wage will begin to take effect from May 1st, 2024, even if the ‘Tripartite Committee on National Minimum Wage’ is yet to decide conclusively on the new minimum wage.

According to the Minister of State for Labour, Nkeiruka Onyejeocha, the new minimum wage will be implemented for all workers starting May 1, despite the ongoing consultation.

The Organised Labour had earlier demanded that the minimum wage be raised to ₦615,000. They have asked that President Tinubu hasten the committee so they may release the new minimum wage as the country’s inflation is unbearable.

House of Representatives assures Nigerians of an end to fuel scarcity

The House of Representatives Committees on Petroleum Resources (Midstream and Downstream spoke up to assure Nigerians that the sufferings concerning the long queues at filling stations will come to an end in a matter of days.

They shared more about the issue, claiming that the logistic problems which caused the initial fuel scarcity had been resolved as the petroleum products were available, but distribution was the problem they faced.

The Committee’s Chairmen, Ikenga Ugichinyere and Henry Odianosen Okojie, revealed that the nation’s storage facilities held about 1.5 billion litres of fuel, which could last a month. 

President Tinubu approves of salary increase for civil workers

In celebration of the May 1st Workers’ Day, President Bola Tinubu approved a salary increase between 25% and 35% for all civil servants in Nigeria.

Reports state that all civil workers in the remaining six consolidated structures are entitled to salary increments.

The President also mentioned that pensioners will receive an increment in their pensions ranging from 20% to 28% on the Defined Benefits Scheme.

Minister of Works attacks Peter Obi for allegedly inciting the people against FG

The Minister of Works, David Umahi, has pointed fingers at 2023 presidential candidate Peter Obi, claiming that the political figure was stirring rebellious thoughts in the heads of Igbo people as the destruction of the Landmark Beach Resort commences.

Before the statement by David Umahi, Peter Obi had criticised the federal government for its Lagos-Calabar Coastal Highway Project, requesting why the funds could not have been put to more productive use, such as the repairing of roads across the country.

However, the minister of Works pointed out that Peter Obi led the people into a fight they would not win.

“When you condemn people, you bring judgment upon yourself. And that is what he (Obi) has done. And I think he’s inciting some of the south-east people that are not well-informed. He is inciting them. And gets them into trouble. And he doesn’t go to fight for them. Wisdom is a defence. And I want our people to have wisdom because I am involved,” Umahi said.

Central Bank of Nigeria increases Customs exchange rate

CBN

The Central Bank of Nigeria has increased the Nigerian Customs Service Exchange rate to clear imported goods at Nigerian seaports and airports.

The change in exchange rate reflects the current position of the country’s well-being in the foreign exchange markets.

According to the CBN, the new Customs rates have been shifted to ₦1,373/$ from the previous rate of ₦1,164/$ for all importers with goods in the country.

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