Top 5 Stories Of The Day | Presidency Denies ₦105k as Minimum Wage as NLC Waits for Tinubu’s Response

Presidency
  • Presidency denies ₦105k as minimum wage as NLC waits for Tinubu’s response
  • Nigeria secures $925 million loan from Afreximbank
  • Kano State approves ₦2.9 billion NECO fees for underprivileged students
  • Atiku demands investigation into FG’s denial of fuel subsidy payment
  • Marketers announce price crash of cooking gas

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

Presidency denies ₦105k as minimum wage as NLC waits for Tinubu’s response

Minimum Wage

Giving the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, 48 hours to come up with a template for the minimum wage, the minister eventually submitted his results from findings and research to the President.

However, false news spread around suggesting that the Minister of Finance had submitted ₦105,000 as the proper offer for a minimum wage, but the presidency was quick to debunk the rumours, claiming the minister did not submit ₦105k.

With no response from the presidency and the Tripartite Committee, the Organised Labour consisting of NLC and TUC has been patiently waiting for answers after relaxing the strike for a week to hear the offers of the federal government.

Nigeria secures $925 million loan from Afreximbank

Nigeria has yet again increased its debt portfolio by receiving a fresh loan of $925 million from the African Export-Import Bank (Afreximbank) to stabilise its economy.

Afreximbank announced its recent loan given to the Nigerian government on its website under the syndicated $3.3 billion crude oil-backed prepayment, which was sponsored by the Nigerian National Petroleum Company Limited (NNPCL).

Kano State approves ₦2.9 billion NECO fees for underprivileged students

The Kano State government has approved the distribution of ₦2.9 billion to cover the fees of poor students who are set to write National Examinations Council (NECO) and National Board for Arabic and Islamic Studies (NBAIS).

The state government has revealed that a total of 119,903 students are eligible to receive the NECO (₦24,250) and NBAIS (₦21,000) sponsorship as they are unable to pay the required fees.

Kano’s Commissioner of Education, Dr Umar Doguwa, shared the information at a media briefing, stating that if any student got at least four credits on their mock exams, they would be eligible for the sponsorship.

Atiku demands investigation into FG’s denial of fuel subsidy payment

The 2023 Presidential candidate, Atiku Abubakar, has demanded that the National Assembly investigate the alleged secret fuel subsidy under President Tinubu’s administration.

Atiku, in a statement by his Media Adviser, Paul Ibe, requested that the federal government should demonstrate courage in taking accountability for its policies and their consequences as it owes Nigerians transparency.

A document leaked to the media revealed that the federal government had spent a sum of ₦3.6 trillion in 2023 on fuel subsidies and would likely spend ₦5.4 trillion in 2024. In contrast, the FG claimed that fuel subsidy was no longer effective.

Marketers announce price crash of cooking gas

The price of liquefied petroleum gas, also known as cooking gas, has reportedly reduced nationwide.

The National Association of Liquefied Petroleum Gas Marketers (NALPGAM) officially confirmed the 40% drop in the price of cooking gas as it drops from ₦1,500/kg to ₦900/kg.

The price crash of cooking gas is attributed to the FG’s decision to restrict the exportation of the product and instruct all domestically produced LPG to remain within Nigeria.

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