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June 5, 2024 President Tinubu Orders Wage Bill Calculation in 48 Hours
IFMUYONEWS

President Tinubu Orders Wage Bill Calculation in 48 Hours

President BOLA TINUBU giving the Minister of Finance, WALE EDUN, a 48-hour ultimatum to come up with the cost implications on the new minimum wage.

 

This was revealed by the Minister of Information and National Orientation, MOHAMMED IDRIS.

 

IDRIS stated this while briefing State House Correspondents after the negotiation team had a meeting with the President at Aso Rock.

 

Meanwhile, the Organised Labour have vowed to reject any lean addition to the 60,000 naira offer by the tripartite committee on the new minimum wage.

 

The President of the Trade Union Congress (TUC), FESTUS OSIFO stated this after the Organised Labour comprising the TUC and the Nigeria Labour Congress (NLC) suspended its industrial action which started on Monday.

 

Recall that NLC and TUC called off the strike for one week, to enable further negotiations with the Federal Government.

 

The Unions had noted that failure on the part of the government to conclude with labour within one week shall prompt the organised labour to resume the strike without further notice.

June 5, 2024 Akwa Ibom State Government Directs Focus to Ibom Tropicana Complex
IFMUYONEWS

Akwa Ibom State Government Directs Focus to Ibom Tropicana Complex

Akwa Ibom State Governor, Pastor Umo Eno, has ordered immediate reclamation of all trespassed portions of the 82- hectare landed property acquired for the Ibom Tropicana Entertainment Centre, as he moves to complete the moribund and uncompleted parts of the facility.

 

Governor Eno gave the indication while undertaking an inspection tour of the theme park, the 14 – storey Tropicana hotel building and the 5000 – capacity Conference facility at the Ibom Tropicana Entertainment Centre, Udo Udoma Avenue, Uyo.

 

The Governor who had earlier held a re-evaluation meeting with major contractors on the project, said the visit was informed by his resolve to attend to critical infrastructure that have potentials to grow the State’s economy.

 

He explained that his drive to reclaim the facility was also in furtherance of his pledge to complete uncompleted projects initiated by previous administrations and make them functional.                 

June 1, 2024 Naira Ends May Weaker At N1,484.75 Against the Dollar
IFMUYONEWS

Naira Ends May Weaker At N1,484.75 Against the Dollar

The naira, Nigeria‘s currency, ended the month weaker, despite a surge in dollar supply amounting to $4.60 billion in the official foreign exchange (FX) market.

 

The FX market closed for the month on Friday with the naira losing 5.60 percent as the dollar was quoted at 1,485.99 Naira, weaker than 1,402.67 Naira quoted at the beginning of the month, according to data from the FMDQ Securities Exchange Limited.

 

On a day-on-day trading basis, the local currency closed flat at 0.08 percent as the dollar exchanged at 1,485.99 Naira on Friday as against 1,484.75 Naira quoted on Thursday at NAFEM.

 

Dollar supplied by willing buyers and willing sellers was as high as $4.60 billion in the month under review.

June 1, 2024 Labour Declares Indefinite Strike from June 3
IFMUYONEWS

Labour Declares Indefinite Strike from June 3

The Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) have declared a nationwide strike beginning from Monday, June 3rd, 2024 over the tripartite committee’s inability to agree on a new minimum wage.

 

The President of the TUC, FESTUS OSIFO announced the strike at a joint news conference with the leadership of the NLC in Abuja.

 

The decision follows the expiration of an earlier request to the Federal Government to conclude all negotiations for a new minimum wage before the end of May.

 

Speaking during the press conference, the TUC president declared that the industrial action will be indefinite until the Federal Government provides a new minimum wage.

Comrade OSIFO further decried what he described as non-responsiveness of the federal government to the plights of the Nigerian workers.

The organised labour had once pulled out of the negotiation and rejected two Federal Government offers, the latest being the offer to pay 60,000 naira as a minimum wage

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