NEWS
Tinubu Sneaks-In N35,000 Minimum Wage, Claims Talks With Organised Labour
President Bola Ahmed Tinubu has revealed that his government is already paying a minimum wage of N35,000 already in talks with organised labour and other tiers of government to ensure uniform implementation in Nigeria.
He made the disclosure while speaking to Editors of The Nation newspaper, who voted him as Person of the Year.
He assured that when a formal agreement is reached with organised labour, the coming wage structure would be practical, sustainable and implementable by all layers of government.
On his journey so far as Nigeria’s President, he pointed to the economic reforms introduced by his government, which he claimed have been manifesting positive dividends.
These, according to him, include $616m in Foreign Direct Investment (FDI) pledges.
Reminded about the current cost-of-living crisis in the country caused by spiraling inflation, high petrol price, and currency devaluation, Tinubu said, “As your President, I am deeply aware of the economic crisis’s severe impact on Nigerians, and we are part of a global challenge with the rising costs of living.
“To help our people, my administration is taking proactive steps. We are focused on providing financial support to businesses and ensuring the availability and affordability of staple foods, which are essential for every Nigerian family.
“One of our key initiatives is the provision of N25,000 monthly to 15 million households, for a three-month period. To further support food security, we’re working with our partners, local and international, to improve agricultural practices and provide essential resources to farmers.
“In addition, the National Single Window Project is being implemented to enhance international trade efficiency.
“All these efforts are in line with our commitment to reducing the economic burden on our citizens, especially the working class and vulnerable groups.”
According to him, the reallocation of funds from the removal of the petrol subsidy is also “a strategic move to bolster our government’s finances, contributing to a stable economic environment for all.”
He added, “In our commitment to ease the economic strain on our citizens, particularly the working class and vulnerable groups, my administration is championing the shift to cleaner energy sources.
“We recognize the benefits of Compressed Natural Gas (CNG) in providing an affordable and cleaner mass transit system. To facilitate this, we have waived the Value Added Tax (VAT) on CNG purchases.
“Additionally, to reduce the costs in food transportation and manufacturing, we’ve also waived VAT on diesel for six months.”
He acknowledged that “these massively important reforms have been hard” but pointed out that they have started yielding positive results for the country.
His words, “The dividends are already manifesting, with even more in sight. We have already seen improvements in our economic outlook, as corroborated by the likes of Fitch and Moody’s. These may seem ‘academic’ to many but the impact on investor confidence is significant.”
Asked to respond to criticism of the cash transfer initiative of his government, which some see as superficial and incapable of addressing the level of poverty in the land, Tinubu insisted that he remains steadfast in “my belief in the efficacy of our cash transfer initiatives.”
He said, “These initiatives are a crucial part of our strategy to target and provide relief to the most vulnerable segments of our population, especially during the last three months of the year when the prices of basic items typically rise.
“This is not just about providing temporary support; it’s about strategically delivering assistance when it’s needed most. We continue to work closely with all key stakeholders – including state governments, civil society groups, international partners, and private sector entities like telcos and fintechs – to refine these programs. Moreover, we urge all Nigerians to be mindful of the current economic situation and avoid exploiting it for abnormal profits.
“In addition to these cash transfers, my administration is deeply committed to empowering micro, small, and medium-sized enterprises, along with nano businesses. Significant financial support is being directed to these enterprises to foster human capital development, economic growth, and financial inclusion.
“For instance, through the Ministry of Communications, Innovation, and Digital Economy, we launched the 3MTT programme, aiming to develop technical talent across Nigeria in fields such as software engineering and cloud computing. This program is designed not just to aid businesses but also to enable our youth to participate in the global gig economy, earning competitive wages while contributing to our nation’s growth.
“Our interventions extend beyond what some may call ‘cash handouts’. They are about creating a sustainable environment where Nigerians can innovate and thrive.
“By focusing on sectors like digital and creative industries, we are fostering growth and job creation, harmonizing efforts between monetary and fiscal bodies to build a stronger, more resilient Nigeria.”
On the planned new wage structure, why it is yet to take off and fears about the ability of some of the states to implement it when the last one has not even been fully adopted all over the country, the president said, “I understand the concerns regarding the unveiling of the new minimum wage and how states will manage these changes, especially those with fewer resources.
“To address this, my administration has approved a provisional increase in the federal minimum wage to N35,000 per month for a six-month period, two months of which have already been paid. This decision follows extensive consultations with the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC).
“In managing the situation with the states, we are working closely with them to ensure the new wage structure is practical and sustainable. It’s important that each state’s unique financial situation is considered.
“We are focused on strategies to help states strengthen their economies, considering factors like tax efficiency and economic diversification.
“We are committed to ongoing dialogues with labour unions and state governments. This collaborative approach is crucial to ensure that the new minimum wage is fair, reasonable, and implementable across all states.
“Our goal is to balance the economic well-being of our workers with the overall financial health of the nation.
“We ask Nigerians to rest assured that my administration will not rest until we have delivered a sustainable solution in the best interest of Nigerians.”
Tinubu, in response to a question on the benefits of his economic missions to some parts of the world so far, said, “It is essential to place our initiatives within the broader context of our economic recovery and growth strategy. This strategy encompasses several key reforms, including the removal of fuel subsidies, the unification of the naira’s exchange rates, the adoption of the customs single-window, the streamlining of our tax system and enhancement and diversification of our revenues.
“These strategic moves are designed to enhance liquidity and create a more attractive investment environment for both domestic and foreign investors, thereby stimulating sustainable growth.
Foreign Direct Investment (FDI) is not ‘chicken change’. FDI is substantial, long-term financial commitments made by serious enterprises and investors.
“What is happening right now is that Nigeria is re-engaging with the global market – both foreign and domestic investors. We are telling the story of our significant and far-reaching reforms and rebuilding confidence in Nigeria as an accessible and safe investment.
“We are clearly communicating that ‘Nigeria is open for business’ and that the direction of travel is clear and fully committed.
“So far, our pursuit of foreign direct investment has been met with positive outcomes. We’ve secured a $500 million deal with Germany to fund renewable energy projects, particularly in rural Nigeria.
“Additionally, through local enterprises, Nigeria will supply LNG yearly to Germany, starting in 2026, solidifying our role as a key global energy partner. Our focused efforts to attract European FDI are yielding fruit, notably with the $116 million French investment in the I-DICE program, aimed at creating 65,000 start-ups and 150,000 jobs, particularly empowering women.
“As announced on the side-lines of COP28 in Dubai, we’re deploying 100 electric buses nationally, affirming our commitment to sustainable, eco-friendly initiatives and creating a platform for Public-Private-Partnerships in the mass transit category.
“Since this announcement we have received serious requests for co-investment opportunities from within Nigeria and across the world – Europe, India, China and the Middle East, key global markets my administration has been energetically engaging with.”
NEWS
‘Not Off the Table’ — FG Threatens Retaliation Against South Africa Over Xenophobic Attacks on Nigerians
The Federal Government has warned that retaliatory measures against South African interests in Nigeria remain under consideration following the recent wave of xenophobic attacks targeting Nigerians and other foreign nationals in South Africa.
Minister of Foreign Affairs, Bianca Ojukwu, expressed the government’s frustration on Monday, accusing South African authorities of failing to adequately protect Nigerians from harassment, intimidation, and attacks.
Speaking to State House correspondents in Abuja, Ojukwu rejected claims that most Nigerians affected by the violence were undocumented migrants, insisting that many of them are law-abiding residents engaged in legitimate businesses.
“To say that Nigerians who are in South Africa doing legitimate business are illegal migrants is absolutely untrue,” she said.
The minister noted that Nigerians were unhappy with the treatment being meted out to them despite Nigeria’s historic support for South Africa during the struggle against apartheid.
SEE ALSO: Atiku Knocks FG’s ‘Sluggish’ Handling of South Africa Xenophobic Violence
“Nigeria is not happy because Nigeria sacrificed much for the South African struggle for independence. Nigeria committed funds and resources to aid South Africa. My generation demonstrated and protested in support of South Africa. Nigerians are not happy about how they have been treated,” Ojukwu stated.
When asked whether Nigeria could impose restrictions on South Africans living or doing business in the country, the minister said such measures had not been ruled out.
“That is a situation we are considering. This is a decision that has to be taken at the highest level of government, but it is not off the table,” she said.
Meanwhile, the Federal Government has activated a crisis response mechanism through the Nigerian Mission in Pretoria and the Nigerian Consulate in Johannesburg to assist citizens affected by the attacks.
Ojukwu disclosed that President Bola Tinubu had directed relevant agencies to ensure the safe evacuation of Nigerians willing to return home.
According to her, the number of citizens seeking repatriation continues to rise as the situation worsens in parts of South Africa.
She explained that both Nigerian and South African authorities were carrying out screening and documentation processes to facilitate the return of affected citizens.
The minister also assured that returnees would receive support upon arrival in Nigeria through collaboration with the National Emergency Management Agency (NEMA) and other government agencies.
In a related development, the Ministry of Foreign Affairs announced the postponement of the planned evacuation of 270 Nigerians from South Africa, citing unforeseen logistical challenges.
The ministry’s spokesperson, Kimiebi Ebienfa, said the flight, originally scheduled to depart Johannesburg on Monday, had been rescheduled for Wednesday to allow authorities complete necessary arrangements.
Ebienfa disclosed that more than 1,000 Nigerians had already been screened and cleared for possible evacuation.
He also clarified that, unlike previous evacuation exercises, the Federal Government would fully fund the operation and would not depend on donations from private individuals.
“The Nigerian government will not wait for philanthropists to donate their planes before doing what it is supposed to do and evacuate its citizens facing trouble anywhere in the world,” he said.
The latest developments came after South African President Cyril Ramaphosa addressed the nation on the growing anti-migrant tensions, condemning attacks on foreign nationals while promising stricter enforcement of immigration laws.
Ramaphosa urged citizens to reject violence and resolve concerns through lawful means.
“We must end illegal migration and secure our communities. However, we must overcome these challenges through peace and love, not through fear, anger or violence,” he said.
The Federal Government has reiterated its commitment to protecting Nigerians abroad and ensuring the safe return of those affected by the ongoing crisis.
NEWS
Agip Retirees Lament over 17 Years Outstanding Pension after Oando Takeover
Former staff members of the Nigerian Agip Oil Company (Oando Energy Resources Nigeria Limited), have staged a peaceful protest demanding payment of their pension salary, which has not been paid in the last 17 years.
The senior citizens, who protested under the platform, Agip Oil Company Pensioners Association of Nigeria (AOCPAN), accused the management of the company of unilaterally stopping the payment without any reason. The retirees, who brandished placards with different inscriptions, lamented that their members were dying in numbers because of hardship and inability to meet their daily needs.
They condemned the inhumanity of Oando’s management towards the vulnerable retirees, stressing that the company has blocked its gate concerning any issues about the retirees.
Some of their demands are: “Oando management is strategically out to exterminate the retirees through zero welfare support for the retirees.
“Oando bought the assets and liabilities of Agip; but, has trickishly taken the assets and abandoned the major liabilities – the retirees of Agip that bought.”
Chairman of the group, Engr. Elder Paul Sito, who addresses newsmen at the front of the company in Port Harcourt, Rivers State, yesterday, alleged spouses of late retirees were denied access to medical services which are supposed to be for lifetime.
According to Elder Paul, the management of the company does not have a welfare plan for the retirees, adding that senior citizens have been abandoned without any economic and welfare support.
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Speaking further, the chairman claimed that the management has refused to follow the steps of other companies concerning retirees’ welfare.
He said: “The reasons for the protest are many; we were retirees of Agip Oil Company and as a retiree, there is a pension act concerning retirees. There are welfare and pension monthly payments for these retirees. We received this pension welfare or pension salary for years until it stopped in 2009.
“Management unilaterally stopped it. We don’t even know why, they gave us reasons that are not obtainable in the world, the reason is that because a new management came, they were looking for documents to show that the payment they have been doing should continue (a payment that they were making should continue, they are looking for a document to approve that payment) and because they didn’t see it they stopped unilaterally?”
Paul explained further: “And the association picked it up, when the association was so new and its major focus was on increase in minimum wage, which they continued with the management.
And at that time, we never had what we now call (HIPAN) Hydrocarbon Industry Pensioners Association of Nigeria – the gathering of all the five companies’ retirement representatives.
“They meet and check their books to see who is doing less and who is doing more, so that those who are doing less will go back to their management and inform them appropriately like it has always been done when we were in service and that continued until 2009 when they stopped it.
“Up till today, we have never gotten a dime. In 2023, we came out like this and they gave us 1% or less; in 2024, we also came out, they gave us another half of 1%; and now, they have cut short the welfare for our deceased spouses which was supposed to be for life, they have cut it short to two years.”
The chairman emphasized: “We are asking them to reinstate it. It is for life, every other IOC (International Oil Company) is serving for life. “We are saying whatever the retirees of each of these companies get during negotiations should be applied to the retirees in Oando.”
He lamented: “All this while, we have been suffering, we have written letters to them telling them that we want to meet so that we can give them our charter of demand; we did that last year July. they replied that okay, they have heard from us officially, that they’ll go and look for it, they went and kept looking at it for months. When our letters will not be replied anymore.
“We planned to come out and they heard of it and they immediately called us for a meeting. We went and they still promised us and up till now, they brought nothing. The other oil companies are increasing pensioners salaries every year, but here, it’s a different story.”
One of the retirees, who simply gave her name as Mrs. Regina, lamented that the stipend they receive from the company is of no value to the current economic condition in the country.
High Chief Oluwa Oluwaneye said: “You can see me, I was not like this, I was a good player and a good wrestler and now what God gave to me to satisfy my family, I can’t provide it again because of the condition.
“I entered this Agip in 1955. He (owner of Oando) said he is fit to buy the company; he should know that the people who worked in the company and gave him the power to come and buy, he should empower them.”
NEWS
Loss of 5 Rigs Threaten Govt’s Revenue
A sharp decline in oil drilling activities which has led to the loss of five active rigs within a month might be threatening Nigeria’s revenue outlook.
According to a report by the African Energy Council (AEC), the slump in Nigeria’s rig count has raised concerns over future crude production, government earnings and fiscal stability.
The report revealed that Nigeria’s active rig count dropped from 17 in March to 12 in April 2026, representing a decline of nearly 30 per cent in just one month and signalling weakening upstream investment and exploration activities.
Rig count, a key indicator of oil and gas exploration and production activities, measures the number of drilling rigs actively operating within a country or region.
Industry experts often regard it as a leading indicator of future production levels. The development comes at a time when Nigeria is struggling to meet its crude oil production targets and relies heavily on petroleum earnings to finance government expenditure.
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According to the report, the decline in rig activity poses a direct threat to the Federal Government’s 2026 budget benchmark of 1.84 million barrels per day (bpd), especially as actual production stood at about 1.48 million bpd in April 2026.
The AEC noted that while the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported 31 active rigs during the period, the Organisation of Petroleum Exporting Countries (OPEC) placed the figure at 12.
It explained that the discrepancy likely reflects differences in counting methodologies, including whether rigs on standby are classified as active.
Despite the differing figures, the Council stressed that both data sets point to a downward trend in drilling activity.
The think tank warned that with only 12 active rigs operating in April, Nigeria’s future production capacity is under severe threat unless urgent measures are taken to reverse the decline.
It further observed that the country’s rig count had already fallen from 15 in 2024 to 13 in 2025, indicating that several potential barrels that should have contributed to current production were never drilled.
“AEC views Nigeria’s upstream retreat with serious concern. A 41.7 per cent single-month rig count collapse, compounding revenue losses exceeding $3.1 billion, and a widening gap between NNPC’s 2030 ambitions and ground-level drilling activity signal a sector in structural distress rather than a cyclical downturn,” the report stated.
While Africa drills forward, Nigeria drills back. Without urgent policy action, Nigeria risks permanently ceding both its relevance within OPEC and its opportunity to monetise reserves before the global energy transition narrows that window.
The warning comes against the backdrop of mounting fiscal pressures. Oil revenues account for roughly 60 per cent of government earnings, meaning lower production could translate into wider budget deficits and increased borrowing.





