By Esther Ososanya Labour warns RMAFC’s proposal could worsen inequality and spark outrage The Nigeria Labour Congress (NLC) has called for the immediate publication of the current earnings of political office holders and the criteria for any planned review. The demand follows rumours of an upward adjustment by the Revenue Mobilisation Allocation and Fiscal Commission …
By Esthere Ososanya The Indigenous Contractors Association of Nigeria (AICAN) has accused the Federal Government of misrepresenting facts on outstanding liabilities and warned that prolonged payment delays are pushing its members into severe financial distress. The association said hundreds of contractors now risk losing properties and equipment to banks, microfinance institutions, and private lenders after …
By Esther Ososanya The federal government has bowed to pressure from organised labour by addressing two major demands of the Nigerian Labour Congress (NLC), barely days after the union threatened to shut down the economy with a nationwide strike. At the centre of the dispute was the controversial deduction of workers’ contributions from the Nigeria …
By Esther Ososanya Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has praised Lotus Capital Limited for its pioneering role in developing the country’s non-interest finance sector, stressing that innovative financing and private-sector collaboration are critical to achieving inclusive economic growth. The development was disclosed in an official press statement …
By Esther Ososanya The National Sugar Development Council (NSDC) has signed fresh agreements with four major operators to roll out large-scale greenfield projects expected to produce 400,000 metric tonnes of sugar annually. This is one of Nigeria's boldest industrial pushes in decades to protect its economy and cut the massive foreign exchange drain from sugar …
By Esther Ososanya Commercial drivers in the Federal Capital Territory are raising the alarm over worsening inconsistencies in fuel prices across filling stations, warning that the rising costs paired with passenger resistance to fare hikes are crippling their daily income and pushing many closer to financial collapse. For the past five days, the capital city …
By Esther Ososanya In a major boost for Africa’s energy sector, the African Export-Import Bank (Afreximbank) has signed a $1.35 billion financing deal with Dangote Industries Limited (DIL). The deal is part of a larger $4 billion syndicated loan to support the Dangote Refinery, Africa’s largest industrial project to date. This agreement will help refinance …
