Economy - Page 2 of 454 - NewsNow Nigeria

17May

By Mariam AbdullahiNo Comments

News

Second Reading of PIA: Bill Advocating for Establishment of Petroleum Training Institute in Ibeno

At the House of Representatives, a bill advocating for the establishment of a Petroleum Training Institute in Ibeno, the host community of International Oil Companies in Akwa Ibom State, has successfully undergone its second reading. On Friday, in a statement released by the media unit of the member representing Eket/ONNA/Esit Eket/Ibeno Federal Constituency, Hon. Okpolupm Etteh, it was revealed that the bill, once passed, will repurpose the abandoned ultramodern skill acquisition center that was constructed and equipped by the Ministry of Niger Delta Affairs. The bill, officially titled as “A Bill for an Act to Establish Petroleum Training Institute Ibeno, Akwa Ibom State to provide full-time courses of Instruction, Training and Research in petroleum technology and Produce Technician...

Shehu Sani calls on Federal Government to address minimum wage issue to prevent strikes

17May

By Mariam AbdullahiNo Comments

News

Shehu Sani calls on Federal Government to address minimum wage issue to prevent strikes

Addressing the minimum wage matter is crucial in order to avoid labor strikes, former Kaduna lawmaker, Shehu Sani, emphasized in a recent interview with Arise Television monitored by NewsNow. He stressed that increasing the minimum wage is well within the means of the Nigerian federal government. Expressing his concern, Sani questioned how a Nigerian could sustain themselves with less than N100,000, pointing out the impracticality of the government's proposed figures of N45,000-48,000 once various factors are considered. He further stated, “The government must take into consideration the stance of the labor force. It's one thing to agree on raising the minimum wage, but the ability to meet those obligations is equally important. Over the last few years, the government has struggled to...

APC witnesses defection of Babayemi, Ogunbiyi, and others in Osun

17May

By Obi UgochuwkuNo Comments

Politics

APC witnesses defection of Babayemi, Ogunbiyi, and others in Osun

In Osun state, notable politicians Dotun Babayemi and Akin Ogunniyi have formally switched allegiance to the All Progressives Congress (APC). Babayemi, a former contender for the governorship under the Peoples Democratic Party (PDP), and Ogunniyi, who ran for governor on the platform of the Accord Party in the 2022 Osun gubernatorial race, completed their defection to the APC during a public event in Osogbo on Friday. The ceremony took place at the APC secretariat in Osogbo, the capital of Osun State, and was attended by a large crowd of supporters and party members who welcomed them to the party. Joining the APC alongside Babayemi and Ogunniyi were former National Deputy Chairman of the PDP, Shuaib Oyedokun, and Faruq Abbas, the Chief of Staff to the Osun House of Assembly Speaker. Pr...

APRA Welcomes Omoniyi Ibietan as its New Secretary-General

17May

By Mariam AbdullahiNo Comments

News

APRA Welcomes Omoniyi Ibietan as its New Secretary-General

Omoniyi Ibietan, a highly regarded communications expert from Nigeria, has achieved a significant milestone by being appointed as the Secretary-General of the African Public Relations Association (APRA) during the 35th Annual Conference and Annual General Meeting held in Abidjan, Côte d’Ivoire. With a fellowship from both the Nigerian Institute of Public Relations (NIPR) and APRA, Ibietan boasts an impressive background in media relations, communication strategy, and policy discourse, backed by over two decades of industry experience working with renowned organizations such as the Nigerian Communications Commission (NCC) and the Federal Ministry of Information and Communication. In his role as Secretary-General, Ibietan has committed to driving APRA’s agenda of reforms, promoting democ...

Kayode Akinmade: Dapo Abiodun: A New Dawn in Ogun State

17May

By Mariam AbdullahiNo Comments

News

Kayode Akinmade: Dapo Abiodun: A New Dawn in Ogun State

Amid challenges, Governor Abiodun took office with determination to transform Ogun State. His visionary leadership has brought about significant progress in just five years. His commitment to peace and development has set a new standard for governance, inspiring hope and joy in the people. Abiodun's focus on peace has made Ogun the most peaceful state in Nigeria. His proactive approach to security and investment in law enforcement has yielded positive results. Initiatives like the Security Trust Fund and collaboration with neighboring states have enhanced security measures, ensuring the safety of residents. The agricultural sector has witnessed a remarkable transformation under Abiodun's administration. Through various programs and policies, the state has become a hub for agricultural...

Bagudu: Painful Reforms Yielding Positive Results

17May

By Mariam AbdullahiNo Comments

News

Bagudu: Painful Reforms Yielding Positive Results

Sen. Abubakar Bagudu, the Minister of Budget and Economic Planning, has highlighted the successful outcomes of President Bola Tinubu's economic reforms. Speaking to reporters in Abuja on Friday, Bagudu emphasized that these measures have helped restore confidence in the nation's economy. According to a statement from Bola Adebiyi, his Special Assistant on Media, Bagudu mentioned that foreign investors are once again showing interest in Nigeria. Addressing the impact of removing petrol subsidies, Bagudu acknowledged the initial discomfort but stressed that this policy has boosted available funds for government entities to invest in vital infrastructure projects. He pointed out that these infrastructure developments are crucial for economic rejuvenation, especially considering the previo...

Minister Bagudu: Positive Outcomes Evident from Challenging Reforms

17May

By Afolake IbidunNo Comments

Business

Minister Bagudu: Positive Outcomes Evident from Challenging Reforms

In Abuja on Friday, Minister of Budget and Economic Planning, Sen. Abubakar Bagudu, highlighted the fruitful results already emerging from President Bola Tinubu’s economic reforms.Describing the measures as restoring confidence in the country’s economy, Bagudu shared with reporters. In a statement by Bola Adebiyi, Minister Bagudu’s Special Assistant on Media, it was mentioned that the minister emphasized the renewed interest from foreign investors in Nigeria. The minister acknowledged that while the removal of petrol subsidy brought about some hardships, the policy successfully boosted the available funds for the government to invest in crucial infrastructure projects. Before May 29, 2023, the government’s financial situation was delicate, and the economy was stagnant due to the impac...

16May

By Mariam AbdullahiNo Comments

News

Commendation for Tinubu’s Financial Transparency from VP Shettima

Vice President Kashim Shettima praised the federal government under President Bola Tinubu for maintaining transparency in its financial dealings and fulfilling its fiscal responsibilities. He pointed to the recent upgrade of Nigeria's credit outlook to positive by global credit rating agency, Fitch, as evidence of growing confidence in the country's economy. Addressing the 141st meeting of the National Economic Council (NEC) at the Presidential Villa in Abuja on Thursday, Senator Shettima commended the government's transparency measures and financial safeguards. He highlighted the significance of the credit outlook upgrade, attributing it to the reform progress spearheaded by President Tinubu. Shettima emphasized the importance of policy changes aimed at reducing the country's deb...

Labour’s Opposition to Nigerian Government’s Plan to Utilize Pension Funds for Infrastructural Development

16May

By Mariam AbdullahiNo Comments

News

Labour’s Opposition to Nigerian Government’s Plan to Utilize Pension Funds for Infrastructural Development

A cautionary letter has been sent by the Nigeria Labour Congress and Trade Union Congress to the federal government, advising against the use of funds from the National Pension Fund Scheme for economic and infrastructural development purposes. Expressing concerns, the letter, also addressed to key government officials, highlighted the anxiety among civil service workers regarding the government's intention to utilize a portion of the N19.66 trillion pension funds for economic growth initiatives. The recent announcement by the Finance Minister regarding the allocation of substantial pension funds for infrastructural development has raised alarm and unrest among Nigerian workers, who are significant contributors and eventual beneficiaries of these funds, according to NLC and TUC. In a joi...

16May

By Mariam AbdullahiNo Comments

News

CLO: Nigerian Government Falling Short in Addressing Artificial Fuel Scarcity and Insecurity

Expressing concern, the Civil Liberties Organisation, CLO, in Akwa Ibom State pointed out that the Federal Government's efforts have not been sufficient in curbing the unethical behavior of petrol marketers responsible for the sustained high fuel prices across many regions of the country. Furthermore, the organization urged for prompt action from the National Youth Service Corps, NYSC, and the Akwa Ibom State Government to secure the release of the remaining Corps members who are still held captive by kidnappers in Zamfara State. In a joint statement by Barr Godknows Njoku, the state chairman, and Comrade Eridiong Obong, the Vice Chairman, following the organization's monthly meeting, they denounced the actions of the marketers as economic sabotage. Highl...