Author: Vardiafrica

Godwin Obaseki, governor of Edo, has announced a new minimum wage of N70,000 for civil servants in the state. The governor made the declaration on Monday while inaugurating the Labour House. Obaseki named the Labour House after Adams Oshiomhole, senator representing Edo north and former governor of the state. The new minimum wage regime in Edo will take effect from May 1, 2024, the governor said. The Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) have been agitating for a new minimum wage for workers across states, on the back of economic reforms by the President Bola Tinubu administration.…

The Minister of Power, Adebayo Adelabu, has assured that any customer not currently enjoying 20 hours of electricity would not pay the new tariff. The minister stated this on Monday while appearing before the Senate Committee on Power, for a one-day investigative hearing on the need to halt the proposed increase in electricity tariff by eleven successor electricity distribution companies amid the biting economic situation in Nigeria. According to him, the government had introduced a new policy to save the drowning sector, assuring Nigerians that the pains were temporary. The clarification comes as electricity consumers grapple with the recent increase…

The Lagos High Court sitting in Ikeja has deferred till the end of trial, its ruling on the application filed by the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, challenging the jurisdiction of the court to try him on the charges brought against him by the Economic and Financial Crimes Commission (EFCC). Through his lawyer, Senior Advocate of Nigeria, Olalekan Ojo, Emefiele submitted that he cannot be tried in the high court of any state in Nigeria for alleged acts of abuse of his office as this raises issues of constitutionality and legality. The former CBN…

Ministers of Power, Adebayo Adelabu, and the Nigerian Electricity Regulatory Commission (NERC) on Monday, appeared before the Senate Committee on Power, for a one-day investigative hearing on the need to halt the proposed increase in electricity tariff by eleven successor electricity distribution companies amid the biting economic situation in Nigeria. During the session, Chairman of the committee, Senator Eyinnnaya Abaribe raised the question of how customers were migrated from the previous customer classes of Residential (R1, R2, R3), Commercial (C1, C2) and Demand (D1, D2), to different bands. Abaribe requested to know if the band classification was under the provisions…

President Bola Tinubu says Nigeria’s investment environment operates on the principle of ‘a willing-buyer and willing-seller’, which ensures seamless access to capital for investors both within and outside the country.  The President gave the assurance on Sunday in Riyadh, Saudi Arabia, during a meeting with the President and Chief Executive Officer of Samsung, Hong Namkoong, and the Chairman of Samsung Investment Global, Jungwook Kim. The meeting took place on the margins of the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development. ”Nigeria is a very huge country with a huge and able population. We have…

Vice President Kashim Shettima has departed Abuja to represent President Bola Tinubu at the International Development Association (IDA21) Heads of State Summit taking place on Monday in Nairobi, Kenya. The high-level gathering to be hosted by Kenyan President, William Ruto, will see African leaders unite to call for an ambitious replenishment of the World Bank’s International Development Association (IDA) concessional lending arm. A statement by Stanley Nkwocha, the Senior Special Assistant to the President on Media and Communications Office of the Vice President says Shettima is expected to take a lead role in advocating for Nigeria’s vision of a transformative…

Tinubu spoke on the sidelines of the World Economic Forum Special Meeting in Riyadh, Saudi Arabia on Sunday, according to presidential spokesman Ajuri Ngelale. “Technology is the enemy of fraud, corruption, and irregularity. We have been working hard on improving technology. “There is always the initial resistance. Corruption, self-interest, and fraudulent activity will always be an enemy, but when you bend that curve, you will receive the benefit. The nation will receive the benefit,” the President said. Recounting how he deployed technology to enhance the revenue base of Lagos State as governor, President Tinubu said he ensured the collection and…

President Bola Tinubu has insisted that his administration’s decision to remove the petrol subsidy was very necessary to prevent the country from going bankrupt. Tinubu announced the removal of subsidy on petrol the day he was inaugurated into office with the popular “subsidy is gone” speech The action, however, made prices of commodities to rise through the roof, increasing hardship in the country which has made some of his critics condemn the subsidy removal as a policy not well thought out. But speaking as one of the panelists at the ongoing World Economic Forum in Riyadh, Saudi Arabia this morning,…

President Bola Tinubu has extended his heartfelt condolences to the families of the victims of the fire incident caused by an articulated vehicle conveying petroleum product at the Eleme section of the East-West Road in Port Harcourt, Rivers State. No fewer than five persons died in the Saturday disaster which also destroyed more than dozens of vehicles and scourged goods worth estimated billions. Commiserating with the government and people of Rivers State on this tragedy, President Tinubu prayed for the speedy recovery of those injured in the incident. Tinubu’s condolence message was contained in a statement signed by his media…

Nigerian anti-corruption watchdog Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited (NNPC) for allegedly failing to account for over $2 billion and N164 billion in oil revenues. SERAP’s lawsuit stems from findings documented in the recently published 2020 audited report by the Auditor General of the Federation. The report alleges that the NNPC failed to remit the aforementioned funds into the Federation Account, raising concerns that the money may have been diverted. According to the legal action designated FHC/ABJ/CS/549/2024, filed at the Federal High Court, Abuja, the human rights group is seeking “an order…