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NNPC Moves to Avert Industrial Action over Its Pension Scheme
… As PENCOM Grants 12-Month Window for Compliance
ABUJA-The Management of the Nigerian National Petroleum Corporation (NNPC) on Monday assured members of staff and the general public that it is taking steps to avert a looming industrial action by the Corporation’s arm of the National Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) even as the National Pension Commission has given a twelve-month widow for the Corporation to comply with the Pension Reform Act 2014 as amended.
PENCOM had earlier directed the Corporation to “immediately take all necessary steps to transit to the Contributory Pension Scheme under the PRA”.
In a fresh directive dated 15 September, 2014, PENCOM stated: “In order to accommodate your concerns, the Commission hereby grants the NNPC a transition period of 12 (12) months within which to ensure full compliance with the provisions of the PRA 2014”.
The Corporation appealed to the leadership of the industrial unions to exercise restraint while it embarks on extensive engagement with PENCOM to resolve the issues.
The NNPC noted that since the commencement of the scheme in 2006, the Management and its staff have made a lot of sacrifice to maintain the existing Scheme and any premature cancellation of the Scheme may lead to avoidable labour disaffection across board.
While acknowledging the existence of some funding gaps in the scheme, the Corporation informed stakeholders that measures have since been put in place to steadily bridge the funding deficit which stood at N298 billion in 2010 and has now been provisionally reduced to N85 billion as at June, 2014.
It stated that NNPC is in the process of transferring additional real estate property valued at several billions of naira to the scheme which is currently before the NNPC board for approval.
It noted that NNPC Pension Fund Limited has complied with the provisions of the PRA 2014, by transferring assets in equities, bonds, Certificates of Deposits and other marketable securities to the custody of Pension Funds Administrators for management as directed by PENCOM since 2006.
“The NNPC Pension Fund has demonstrated its capacity to manage the Scheme successfully by managing pension assets of over N250 billion for over eight years and maintaining an excellent record of administering and paying over 9000 retirees as and when due,” the Corporation said.
The Management called on members of the public not to engage in panic buying assuring further that plans are on top gear to address the situation.
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Music Icon Quincy Jones Passes Away At 91
Quincy Jones, the legendary music producer, composer, and cultural icon whose career spanned over seven decades, has passed away at the age of 91.
Jones died peacefully on Sunday night at his Bel Air home, surrounded by family, according to his publicist, Arnold Robinson.
“Tonight, with full but broken hearts, we must share the news of our father and brother Quincy Jones’ passing,” his family said in a statement. “And although this is an incredible loss for our family, we celebrate the great life that he lived and know there will never be another like him.”
Renowned for his unmatched versatility, Jones collaborated with some of the greatest musical talents of the 20th and 21st centuries, including Michael Jackson, Frank Sinatra, Aretha Franklin, and Will Smith. He played an integral role in producing Jackson’s groundbreaking albums Off the Wall, Thriller, and Bad, which catapulted the pop star to global superstardom and earned Jones worldwide acclaim.
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Born in Chicago in 1933, Jones’ journey into music began early. His childhood introduction came from a neighbor’s piano playing and his mother’s singing. After moving to Washington state following his parents’ divorce, he honed his skills in his high school band and began playing with a young Ray Charles in Seattle’s vibrant club scene.
Jones’ career took off in New York, where he played trumpet in Elvis Presley’s early TV performances and worked with bebop legends like Charlie Parker and Miles Davis. By 1958, he was working with Frank Sinatra, arranging for the singer’s band at the request of Princess Grace Kelly. Their partnership flourished, spanning several projects including Sinatra’s final album LA Is My Lady in 1984.
Throughout the 1960s and 70s, Jones’ talents extended into film and television scores, composing music for films such as The Italian Job, In the Heat of the Night, and the acclaimed The Color Purple, for which he earned three Oscar nominations. He also scored hit TV shows including The Bill Cosby Show and Roots.
In 1985, Jones produced and co-conducted the charity anthem “We Are the World” alongside Michael Jackson and Lionel Richie, raising millions for Ethiopian famine relief. Despite personal and professional challenges—including surviving a near-fatal brain aneurysm in 1974—Jones’s career continued to thrive.
Jones’ influence wasn’t limited to music. In 1990, he founded Quincy Jones Entertainment, the company behind the popular sitcom The Fresh Prince of Bel-Air, which launched the career of Will Smith. His media ventures also included the creation of Qwest TV, an on-demand music streaming service, and the magazine Vibe, which celebrated Black music and culture.
Over his career, Jones earned 80 Grammy nominations, winning 28—making him one of the most decorated artists in the award’s history. Tributes poured in following news of his death. Actor Michael Caine, who shared Jones’ birthdate, called him “a wonderful and unique human being.” Music artists such as LL Cool J expressed gratitude, saying, “You were a father and example at a time when I truly needed one. Music would not be music without you.”
Jones is survived by his seven children, leaving behind an indelible legacy that will resonate through generations to come. His life’s work transformed music, television, and culture, proving that there truly was no limit to what Quincy Jones could accomplish.
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Prayers Won’t Build Roads, Fund Children’s Education – Jesse Jagz To Nigerians
Singer and rapper Jesse Jagz has called on Nigerians to rethink their approach to religion.
Jagz suggested that African traditional religious gods have become ineffective, attributing this to the excessive alcohol given to them during rituals, which, according to him, has made them obese, diabetic, and unable to aid their worshipers.
Speaking on the ‘Big Talk’ podcast, the rapper also criticized followers of foreign religions for relying solely on prayer and expecting miracles without putting in the necessary effort. He stressed that prayers alone cannot provide essential social services or infrastructure.
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“When you go to a shrine and you see the priest pouring gin on the gods, Google how much a bottle of gin was in slavery. 40 slaves.
“Our gods are drunk on alcohol and meat. They are obese and diabetic.
“They can’t help us do anything. Prayers do not build roads or buy books for children. We have forgotten humanity,” he said.
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Presidents Invite Me To Dinner Wherever I Go – Davido Boasts
Renowned Nigerian singer, David Adeleke, known by his stage name Davido, has stated that he receives special treatment globally due to his celebrity status.
The Afrobeats sensation mentioned that he is frequently invited to presidential dinners in nearly every country he visits, with the exception of the United States and the United Kingdom.
In a recent interview with Kiss Fresh London, Davido confidently shared that his fanbase includes influential figures such as the World Bank president, presidents of powerful nations, and other notable personalities.
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“Every country we go to, the President invites us for dinner except London [United Kingdom] and the United States of America.
“It’s beautiful to see. I mean, leaving my country, Nigeria, and people welcoming me like the president in other countries, shows how well Nigeria is doing around the world in terms of music and cultural impacts,” he said.
Davido has expressed that he feels most respected in Africa, which is why he cherishes his African tours more than those in Europe and America, even though the latter bring him greater financial rewards.
He shared that his Jamaican collaborator, YG Marley, was astonished by the immense admiration from fans when he visited Nigeria for the video shoot of their joint hit, ‘Awuke.’