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Tinubu Calls For Evaluation Of Minimum Wage, Revenue

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President Bola Tinubu has suggested that a reevaluation of the national minimum wage is necessary in order to accurately reflect the current realities of the country.

 

He disclosed this On Friday, while hosting a delegation from the Progressive Governors Forum (PGF) at the Presidential Villa in Abuja.

 

He further reiterated that enhancing the well-being of Nigerians remains a primary focus for his administration.

 

He said “We need to do some arithmetic and soul-searching on the minimum wage. We will have to take a look at that together, and the revenue. We must strengthen the source and application of our revenue.”

 

Mr. Tinubu also urged the governors to recognize the significance of being selected among millions of citizens in their respective states and encouraged them to use their positions to bring about positive change in people’s lives.

 

He emphasized the need to streamline the multiple exchange rates, emphasizing that governance is an ongoing process.

 

He went on to praise the All Progressives Congress (APC) for achieving a majority in the National Assembly and some Houses of Assembly, stating that this would facilitate the development of policies directly benefiting the economy and the populace.

 

President Bola Tinubu however, reaffirmed his commitment to maintaining an open-door policy, expressing his willingness to address issues, engage in discussions, and collaboratively find solutions to the various challenges confronting the nation.

 

“This meeting is not strange to me, and the content of the meeting is so valuable. The camaraderie is very stimulating. This is about the Nigerian project, not Bola Tinubu. I have inherited the assets and liabilities of my predecessor.

 

“As progressives and thinkers under the umbrella of the All Progressives Congress (APC), you have a role to play in educating our people and making sure we manage ourselves.

 

“If we work together, the Nigeria of our dreams is not far away. Rest assured that we will not have multiple exchange rates anymore. You asked for this meeting, and I had to set aside time to be here.

 

“We have a political party that we will need to manage, whichever way, we have inherited assets and liabilities, and we cannot complain. It is in our hands, and I am ready to work and listen at any time.” He added

 

Vice President Kashim Shettima, in his remarks, urged the governors to unite in support of the President as he tackles economic obstacles such as the oil subsidy and multiple exchange rates, which have been hindering progress.

 

He said “Let us rally around the president and not bulge. There are vested interests that may want to resist the subsidy removal. Its removal will free resources for the development of your states.”

 

It is worth nothing that Mr. Uzodinma, one of the APC governors, expressed the unwavering support of the party’s governors for the president noting that the initial decisions made by the president demonstrated positive intentions for the economy.

 

He said “We are here today as members of the APC to fraternize with you as our leader, and congratulate you on your election as President, and Commander-in-Chief.

 

“We are using this opportunity to express our support for you at this trying time in our history. We are aware of your capacity and excellent track record.” He added

 

NEWS

N1.7trn Loan: Atiku Blames NASS For Worsening Nigeria’s Debt Burden

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Former Vice President, Atiku Abubakar has criticized the federal government’s plan to secure an additional N1.7 trillion loan through Eurobonds to cover a shortfall in the 2024 budget, describing the borrowing as unsustainable and harmful to Nigeria’s economy.

In a statement shared on Thursday via his X (formerly Twitter) handle, Atiku accused the Bola Tinubu-led administration of burdening Nigerians with debt while failing to provide clear answers about the country’s fiscal challenges.

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He also faulted the National Assembly for enabling what he called a “voracious appetite” for loans.

The former Peoples Democratic Party (PDP) presidential candidate expressed alarm over a recent World Bank report ranking Nigeria as the third most indebted country to the International Development Association (IDA), calling the development troubling.

“The recent report released by the World Bank, showing Nigeria as the third most indebted country to the International Development Association (IDA), is very concerning,” Atiku stated.

He raised further concerns about the government’s decision to benchmark the proposed loan at an exchange rate of 1 USD to N800, despite the Central Bank of Nigeria’s official rate being over N1,600.

“What makes this particular loan proposal even more concerning is that it is benchmarked at the exchange rate of 1 USD to N800, whereas the current exchange rate from the Central Bank of Nigeria stands at over N1,600 to 1 USD,” he said.

Atiku questioned the need for additional borrowing, given the government’s earlier claims of record-high revenue collection.

“In July this year, Tinubu boasted that the FIRS and Customs under his watch had collected all-time high revenues to finance the budget. Why are they still borrowing?” he said

He accused the government of a lack of transparency, describing the borrowing spree as detrimental to Nigerians already struggling under economic hardship.

“There is something that they are not telling Nigerians, even as they are being crushed by a combination of their failed trial-and-error policies and loan rackets.”

Atiku also referenced a report by BudgIT, a budget monitoring group, which criticized the 2024 budget for its inefficiencies.

He alleged that corruption, rather than infrastructure or development needs, was driving the government’s borrowing decisions.

“These loans are powered by corruption and not for infrastructure and development needs. This voracious appetite for humongous loans is deeply concerning,” he said.

Reflecting on Nigeria’s financial history, Atiku lamented the return to significant foreign indebtedness just years after former President Olusegun Obasanjo’s administration cleared the country’s debt.

“It is agonizing to see that just a few years after the Obasanjo administration took us out of foreign indebtedness, we are today back at the top spot in the same conundrum,” he stated.

He called for a more cautious approach to borrowing, urging the government to prioritize fiscal responsibility and transparency to avoid worsening Nigeria’s economic challenges.

 

 

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International News

ICC Issues Arrest Warrants For Israeli Prime Minister Netanyahu, Others

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The International Criminal Court (ICC) has taken a historic step, issuing arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Defense Minister Yoav Gallant.

The charges include crimes against humanity and war crimes allegedly committed during Israel’s recent assault on Gaza.

In a detailed statement, the ICC accused the Israeli leaders of “intentionally and knowingly depriving the civilian population in Gaza of objects indispensable to their survival, including food, water, and medicine and medical supplies, as well as fuel and electricity.”

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The ICC’s move marks a significant escalation in international scrutiny of the Israeli-Palestinian conflict. Netanyahu and Gallant are alleged to have orchestrated policies that caused severe harm to the civilian population in Gaza, leading to widespread condemnation from human rights organizations.

Alongside the charges against Israeli officials, the ICC also issued an arrest warrant for Hamas military commander Mohammed Deif. Deif has long been a central figure in Hamas’s military operations. Israel’s military claims to have killed him in a July airstrike, although this has not been independently verified.

The warrants highlight growing calls for accountability amid the ongoing conflict in the region. The ICC’s actions are likely to provoke heated debate and may complicate diplomatic efforts aimed at resolving the crisis.

With the warrants issued, global attention now turns to how the international community will respond and whether any practical steps will be taken to enforce them.

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NEWS

Edo State Governor Sets Up Committee To Recover Missing Gov’t Vehicles

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Governor Monday Okpebholo of Edo State has inaugurated a 12-member committee tasked with recovering government vehicles reportedly in private hands.

The committee, led by Kelly Okungbowa, has been given a two-week mandate to retrieve the vehicles and ensure their return to the state government.

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Speaking during the inauguration ceremony in Benin City, Governor Okpebholo emphasized the importance of accountability in the management of public resources.

He urged the committee to carry out its assignment thoroughly and within the bounds of the law.

In his response, Okungbowa expressed gratitude to the governor for entrusting the team with the assignment, vowing to deliver results within the stipulated timeframe.

“A lot of vehicles used by the past administration are missing, as those in custody of the vehicles have refused to return them,” Okungbowa said.

“The governor deemed it fit to inaugurate us today with a mandate to recover all government vehicles in private hands.”

The committee, which includes representatives from Edo’s three senatorial districts, is set to investigate and recover the vehicles based on credible intelligence already at their disposal.

“We already have vital information regarding some persons still holding government vehicles,” Okungbowa stated. “We will do the job according to the law, and both the government and the people will be satisfied with the outcome.”

He also called on members of the public to assist the committee by providing information about any government vehicles that may still be in private possession.

“We want to appeal to members of the public who might be aware of anyone still keeping government vehicles in their houses to please inform us to enable the committee to recover such for the Edo State Government,” Okungbowa said.

The committee’s vice chairman, Rt. Hon. Victor Edoror, a former Speaker of the Edo State House of Assembly, will work alongside other members to ensure the success of the initiative. The public can reach the committee at 08110165121.

 

 

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