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News - Page 490

South Africa Withdraws Asylum Directive After Anti-Migrant Violence

October 9, 2026

South Africa has withdrawn a directive facilitating asylum applications after anti-immigration protests turned violent in Durban and Johannesburg, with at least 24 vehicles torched and businesses looted, police said. The Department of

Minimum Wage Decision Expected as Nigerian Labour Leaders Await President's Response ABUJA, NIGERIA – The discussions on the new minimum wage between the Federal Government and Organized Labour are anticipated to conclude today, with labour leaders keenly awaiting President Bola Tinubu's verdict on their N250,000 proposal. The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) had set a Monday deadline for finalizing the new minimum wage talks. Last Friday, the Tripartite Committee on National Minimum Wage concluded its meetings where the Federal Government and the Organized Private Sector agreed on N62,000, while Labour demanded N250,000. However, the Nigeria Governors Forum declared that any minimum wage exceeding N60,000 would be unsustainable. A labour leader who spoke anonymously on Sunday stated, "We have submitted the report to the president and are waiting for him to make his decision. That is the most important thing and that is what we are all waiting for." The labour leaders, including NLC President Joe Ajaero, are currently attending a labour conference organized by the International Labour Organisation in Geneva, Switzerland. The leadership plans to hold a National Executive Council meeting upon their return, where a decision on a potential strike will be made based on the president's feedback. "We must come back from Geneva first before we can hold a NEC meeting. We are also trying to be careful so the government won't say Labour is inciting citizens against it. We are waiting for the president's decision," added another top NLC official. The labour unions, comprising the NLC and TUC, recently embarked on a two-day nationwide strike to demand a new minimum wage and the reversal of the electricity tariff hike. The strike was suspended for five days after a commitment was made with the Federal Government to resume negotiations and establish a new minimum wage within a week. Following a six-hour meeting between labour leaders and the National Assembly in Abuja, President Tinubu directed the finance minister, Wale Edun, to present the cost implications of a new minimum wage within two days. The finance minister, alongside the Minister of Budget and National Planning, Atiku Bagudu, presented the cost implications at the Presidential Villa on Thursday. The president is currently reviewing the proposal and is expected to make an official announcement soon. When asked about the Monday ultimatum, a source within the NLC said, "We have sent a report to the committee and are expecting the president to act on it. We will hold a National Executive Council meeting regarding the ultimatum when we return from Geneva. It is very important for us to be there, but right now, we are patiently waiting for the decision of Mr President." Organized Labour's recent actions underscore the urgency and importance of establishing a new minimum wage for Nigerian workers. The outcome of President Tinubu's decision will be crucial in determining the next steps for both the government and the labour unions. Related News: Atiku claims to have saved Tinubu's political career Debating the appropriate wage for workers Labour criticizes governors for minimum wage stance The labour leaders and the nation await the president's decision, which will significantly impact the economic and social landscape of Nigeria.

Labour·News·Nigeria·Top Stories

Nigeria Labour Congress Gives Government Two Weeks to Cut Petrol Prices, Resume Wage Talks

October 9, 2026

The Nigeria Labour Congress (NLC) has given the federal government two weeks to reduce petrol prices, begin negotiations for a new national minimum wage and implement outstanding agreements with workers, warning that

Nigeria's Equity Market Declines By 1.99% in March Despite Weekly Gains

Business News·Markets·News

Nigerian Equity Market Loses N72.09 Billion As Key Stocks Decline

The Nigerian equity market experienced a N72.09 billion loss at the close of trading on Friday. The decline was driven by a drop in the share prices of key stocks such as Multiverse, Aradel, and Intenegins. This development has raised concerns among

December 21, 2024

Naira Vs Dollar: What To Expect This Week (2nd - 6th June 2025)

Business News·Currency·Markets·News

Naira Depreciates To N1,542 Per Dollar At Official Market

The Nigerian Naira ended the week on a negative note as it depreciated to N1,542 per dollar at the official foreign exchange market on Friday. According to data released by the Central Bank of Nigeria (CBN), the Nigerian Foreign Exchange Market (NFEM)

December 20, 2024

News

Patricia Technologies Gives Update On Repayment To Customers

Patricia Technologies, a financial services technology firm based in Lagos says it has continued repayments to its subscribers who were affected by a security breach that occurred on its cryptocurrency trading platform two years ago. The financial services firm said continuing with

December 20, 2024

News

Ekiti Court Finally Grants Farotimi N30m Bail, Must Not Speak To Media

A Magistrate Court sitting in Ado-Ekiti in Ekiti State, has finally granted bail to Human rights activist and lawyer, Dele Farotimi. But the freedom which was granted under a N30 million bail bond, also entails the submission of his passport, and must

December 20, 2024

News

N75bn MSMEs Intervention Fund: Nigeria Govt Targets Agro-processing, Creative Industries, Healthcare, Renewable Energy

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) and the Bank of Industry (BOI) have signed a Memorandum of Understanding (MoU) for the disbursement of a N75 billion intervention fund aimed at supporting Micro, Small, and Medium Enterprises

December 20, 2024

Anambra Guber: Choose Candidate That Can Lead APC To Victory, Chukwuma Urges Delegates Ahead Of April 5 Primary

News

Insecurity: Chukwuma Condemns Anambra Govt’s Failure To Rescue Archbishop Okpala

Sir Paul Chukwuma, a frontline aspirant in the 2025 Anambra State governorship election under the All Progressives Congress (APC), has condemned the failure of the state government to secure release of Most Rev Godwin Okpala, the Emeritus Anglican Archbishop of the Niger

December 20, 2024

News

FOSAD Condemns Killing Of UNIZIK Lecturer, Urges Soludo To Fish Out Killers

The Forum of South-east Academic Doctors (FOSAD) has condemned the brutal killing of Dr. Osita Fabian Chinedu, a lecturer in the Department of Business Administration, Nnamdi Azikiwe University (UNIZIK), Awka. Dr Chinedu was reportedly shot dead in Awka, the Anambra State capital

December 20, 2024

Dangote Refinery Boosts U.S. Jet Fuel Supply As Demand Rises

Business News·News·Oil & Gas

How To Access Dangote Refinery’s Buy-One-Get-One Credit Offer

The Dangote Refinery has introduced a new initiative aimed at providing relief to Nigerians during the festive season. Consumers can now access a special buy-one-get-one credit offer on petrol purchases. According to Anthony Chiejina, Group Chief Branding and Communications Officer of Dangote

December 20, 2024

The Cost Of Cash Scarcity: How The New CBN Policy Is Reshaping Nigeria’s Informal Economy

Business News·FEATURES·News

Cost Of Cash Scarcity: How New CBN Policy Is Reshaping Nigeria’s Informal Economy

Nigeria’s informal economy, which thrives on cash transactions, is facing a significant disruption. The Central Bank of Nigeria’s (CBN) new policy limiting cash withdrawals to N100,000 per customer daily for Point-of-Sale (PoS) agents has sent shockwaves through the economy. With over 60%

December 20, 2024

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 1st July 2025

Business News·Currency·Markets·News

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 20th December 2024

What is the Dollar to Naira Exchange rate at the black market, like the Aboki Fx? The exchange rate for the US dollar (USD) to Nigerian Naira (NGN) in the parallel market also known as black market, especially the Aboki Fx as

December 20, 2024

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Africa’s Global Bank, United Bank for Africa (UBA) Plc, has

Top 5 Best-Performing Industrial Goods Stocks In Q1 2026

Shareholders in Nigeria’s industrial goods sector recorded massive returns in

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News - Page 490

South Africa Withdraws Asylum Directive After Anti-Migrant Violence

Nigeria Labour Congress Gives Government Two Weeks to Cut Petrol Prices, Resume Wage Talks

Nigerian Equity Market Loses N72.09 Billion As Key Stocks Decline

Naira Depreciates To N1,542 Per Dollar At Official Market

Patricia Technologies Gives Update On Repayment To Customers

Ekiti Court Finally Grants Farotimi N30m Bail, Must Not Speak To Media

N75bn MSMEs Intervention Fund: Nigeria Govt Targets Agro-processing, Creative Industries, Healthcare, Renewable Energy

Insecurity: Chukwuma Condemns Anambra Govt’s Failure To Rescue Archbishop Okpala

FOSAD Condemns Killing Of UNIZIK Lecturer, Urges Soludo To Fish Out Killers

How To Access Dangote Refinery’s Buy-One-Get-One Credit Offer

Cost Of Cash Scarcity: How New CBN Policy Is Reshaping Nigeria’s Informal Economy

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 20th December 2024

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South Africa Withdraws Asylum Directive After Anti-Migrant Violence

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South Africa Withdraws Asylum Directive After Anti-Migrant Violence

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