Connect with us

Business

Minimum Wage: Labour Urges FG To Set Up Tripartite Committee

Published

on

L-R: Group Managing Director, First City Monument Bank (Fcmb) Plc, Mr Ladi Balogun; Chairman, Dr Jonathan Long; Company Secretary, Mrs Funmi Adedibu and  founder, Otunba Michael Balogun,  during the 3rd  Annual General Meeting in Lagos last Friday.

L-R: Group Managing Director, First City Monument Bank (Fcmb) Plc, Mr Ladi Balogun; Chairman, Dr Jonathan Long; Company Secretary, Mrs Funmi Adedibu and founder, Otunba Michael Balogun, during the 3rd Annual General Meeting in Lagos last Friday.

Nigeria’s organised labour
on Sunday in Abuja called on the Federal Government to constitute a tripartite committee consideration of  the proposed N56,000 new National Minimum Wage.
The President of the Nigeria Labour Congress (NLC) Mr Ayuba Wabba, made the call at the 2016 May Day celebration with the theme: “Working Class and The Quest for Socio-Economic Revival”’.
The NLC and the Trade Union Congress of Nigeria (TUC) had penultimate Tuesday submitted a formal proposal of N56,000 new National Minimum Wage to the Federal Government.
Wabba said that the tripartite committee should comprise government; Federal and State, NECA, the organised private sector, and labour to begin the negotiations.
“During the last May Day, we had stated that as soon as the new government to be sworn in on May 29, 2015 settled down, we would table a proposal for a new National Minimum Wage demand.
“The National Minimum Wage Act which former President Jonathan signed into law in April 2011 has a five year re-opener clause for new negotiations to review the new minimum wage.
“In fulfillment of the above provision, we recently submitted a N56,000 proposal as new minimum wage to the Federal Government.
“Our proposal of N56,000 is just N4,000 more than the figure we put out for negotiation in December 2008, which was N52,000.
“This represents our awareness about the prevailing economic situation in the country,” he said.
Also speaking, the TUC President, Mr Bobbio Kaigama said the present economic hardship and its attendant effects on workers had made nonsense of the National Minimum Wage of N18,000.
He said that the N18,000 National Minimum Wage had been operational for over five years and called for an upward review of the existing minimum wage to N56,000.
“This has become necessary as the present one formally lapsed on 24th March, 2016.
“Indeed, even before we submitted our proposal, we had expected the Federal Government to appoint a committee to handle the issue.

Continue Reading

Business

USTR Criticises Nigeria’s Import Ban On Agriculture, Others

Published

on

The United States Trade Representative (USTR) has criticised Nigeria’s import ban on 25 categories of goods, claiming that the restrictions limit market access for American exporters.
This is the effect of President Donald Trump’s tariffs introduction on goods entering the United States, with Nigeria facing a 14 per cent duty.
The USTR highlighted the impact of Nigeria’s import ban on various sectors, particularly agriculture, pharmaceuticals, beverages, and consumer goods.
The restrictions affect items such as beef, pork, poultry, fruit juices, medicaments, and alcoholic beverages, which the United States sees as significant barriers to trade.
The agency argues that these limitations reduce export opportunities for United States businesses and lead to lost revenue.
“Nigeria’s import ban on 25 different product categories impacts United States exporters, particularly in agriculture, pharmaceuticals, beverages, and consumer goods.
“Restrictions on items like beef, pork, poultry, fruit juices, medicaments, and spirits limit United States market access and reduce export opportunities.
“These policies create significant trade barriers that lead to lost revenue for United States businesses looking to expand in the Nigerian market”, the agency said .
In 2016, Nigeria implemented the ban on these 25 items as part of efforts to control imports and stimulate local production.
Some of the banned items include poultry, pork, refined vegetable oil, sugar, cocoa products, spaghetti, beer, and certain medicines.
On March 26, 2025, the  Federal Government also announced plans to halt solar panel imports to encourage local manufacturing as part of its push for clean energy.

Continue Reading

Business

Expert Seeks Cooperative-Driven Investments In Agriculture 

Published

on

A leading agribusiness strategist and digital agriculture expert, Ayo Oluwa Okediji, has sought cooperative-driven investments in sustaining growth of poultry industry in Nigeria.
He said the poultry industry was at a defining moment and requires urgent structural reforms to secure its future and ensure long-term sustainability.
Speaking on the theme, “Strengthening Poultry Farming Through Cooperative Synergy and Strategic Investments”, at the recently concluded Oyo Mega Poultry Workshop 2025 in Ibadan, Okediji called on poultry farmers, cooperative leaders, financial institutions and policy makers to rethink the existing structure of the poultry sector.
He stressed the need to transition from fragmented, individually-driven operations to well-structured, cooperative-led enterprises capable of attracting sustainable financing and securing long-term viability.
He said, “Our poultry sector cannot thrive on individual effort alone. We need to organise ourselves into cooperative clusters, build strong governance systems and position ourselves to attract the level of investment needed to sustain this industry beyond this generation.”
Drawing on lessons from successful global cooperative models such as Rabobank in the Netherlands and Landus Cooperative in the United States, Okediji introduced the FarmClusters Poultry Model, a locally adapted solution developed by Agribusiness Dynamics Technology Limited (AgDyna), a subsidiary of AgroInfoTech Africa.
According to him, the model is currently being piloted in Oyo State in partnership with PANOY Agribusiness Limited and local poultry cooperatives.

Continue Reading

Business

NACCIMA Proposes Hybrid Oil Palm Seedlings For Farmers

Published

on

The Rivers State Representative of the Nigeria Chambers of Commerce, Mines, Industries and Agriculture (NACCIMA), Mr. Erasmus Chukwundah, has urged palm oil farmers to consider hybrid seedlings for planting, if they must break even in palm oil business.
Chukwundah said this recently at the Free Oil Palm Business Climate Smart Best Management Practice/Assistance Training organized by Partnership Initiative In Niger Delta (PIND) for Palm Oil Farmers in Elele, Ikwerre Local Government Area.
The Rivers representative said until palm oil farmers begin to consider such hybrid oil palm seedlings, they may not meet up with the daily increasing demand of palm oil in the market.
According to him, the seedlings produce up to 30 bunches at once that ripen same time.
He said PIND decided to partner with Oil Palm Growers Association of Nigeria (OPGAN) to ensure that the message was received by the targeted audience.
According to him, palm oil remained a popular choice of industry operators as it could be converted to many other products such as vegetable cooking oil.
He also noted that products such as motor tyers, marine ropes and others are now gotten from the palm tree.
Chukwundah, who is the immediate past Director-General of Port Harcourt Chamber of Commerce, Mines, Industries, and Agriculture (PHCCIMA), further warned against use of unrecommended fertilisers in growing oil palms.
He noted that such practices could limit its export value or chances as the foreign marketers have a way of detecting such .
He reiterated the need for organic fertilizers, including poultry droppings, to enable them have a natural palm oil.
“People must reduce physical contact with palm oil production. That is why we are campaigning for hydrolic oil mills. The foreign markets are no longer interested in crude method of palm oil production”, he said.
Meanwhile, one of the farmers, Sonny Didia, who appreciated Chukwundah’s commitment towards the concern of farmers, appealed for an urgent need for loan opportunity with low interest rate in order to enable them beat the target.

King Onunwor

Continue Reading

Trending