A move by representatives to donate 50% of their salaries in response to the nationwide protest appears to be no more than window dressing Members of the House of Representatives have announced a 50% cut off their salaries for the next 6 months. This decision comes as immediate response to the nationwide hunger protest. It also comes just in the nick of time as inflation and cost of living are on a sharp rise leaving...
Reps staged a walkout over approval for CBN to lend more money to government as 2024 budget is amended again Opposition Reps stage walkout over raise of ways and means threshold The emergency session at the House of Representatives called yesterday turned rodwy as some opposition lawmakers staged a walkout from the green chamber over the increment of the controversial Central Bank of Nigeria (CBN) ways and means lending to the Federal Government by 10%....
Appeal to protesters to halt action, another amendment to the 2024 budget and an increase in CBN’s lending to the government are the issues addressed in the Senate yesterday Senate makes another amendment on 2024 appropriation The senate has passed a bill seeking to amend the long title and certain other clauses of the 2024 appropriation law. In a lead debate, leader of the senate, Sen. Opeyemi Bamidele (APC, Ekiti Central) noted that after critical...
Despite objection by some lawmakers in the House of Representatives, both the Senate and House okayed a raise to 10% in Ways and Means by the CBN to Federal government The House of Representatives and Senate has both resolved to increase the Central Bank of Nigeria (CBN)’s advances to the Federal Government from five percent to a maximum of ten percent. This was a major outcome of the emergency plenary session held on Wednesday by...
The Senate assured that the government has commenced executing measures to meet the demands of the protesters The Senate has appealed to organisers of the proposed #Endbadgovernance protests slated to commence tomorrow Thursday, August 1, to give President Bola Tinubu more time to allow his policies to yield desired results. This appeal was made during Wednesday’s emergency plenary sittings following an executive/closed-door session of the Senate which lasted for over an hour and 30 minutes....
Nigeria’s debt crisis calls for an urgent passage of the FRA amendment bill by the National Assembly Nigeria’s public debt has surged dramatically, increasing from N12.8 trillion in 2015 to N87.91 trillion in 2023, representing an astonishing 585% rise, as per the National Bureau of Statistics. This debt increase, along with fluctuating forex rates and inflation, has worsened the economic challenges faced by Nigerians. According to a report by Statista.com on September 22, 2023, Nigeria...
President Tinubu has signed the new National Minimum Wage bill into law President Bola Tinubu has signed the new national minimum wage (amendment) bill 2024 into law. Tinubu, who presided over the Federal Executive Council (FEC) meeting at the council chamber in the state house, Abuja, today, signed the N70,000 the new minimum wage bill in the presence of cabinet members. ALSO READ: Cost of living crisis and bumpy ride to 70k minimum wage |...
The House of Representatives will hold an emergency plenary session on Wednesday, July 31, 2024 as Speaker Abbas plans to host a town hall meeting with young Nigerians. Barely six days into its annual recess, the House of Representatives has summoned members from their respective constituencies to attend a crucial emergency plenary session on Wednesday, July 31, 2024. It also revealed that the Speaker Tajudeen Abbas (APC Kaduna), will host town hall engagement with young...
The newly approved ₦70,000 minimum wage positively responds to the urgent demands of solving hyper inflation and escalating living costs, with unique effects for workers, citizens and the economy Last week’s passage of the new minimum wage bill by the national assembly marks a significant milestone in the ongoing struggle for fair wages in the country. Nigerian workers would earn a base minimum of ₦70,000 once the president assents to the bill. But the struggle...
Benue lawmaker, Rep. Teseer Ugbor, others charges Benue youth to shelve planned protest Rep. Teseer Ugbor (APC Benue), has called on youths to distance themselves from the planned protest scheduled for August 1st, saying it is ‘ill-timed’. The representative of Kwande/Ushongo federal constituency at the National Assembly alongside the minister of water resources and sanitation, Prof. Joseph Terlumun Utsev stated this while addressing a gathering of youths and other groups who gathered in Makurdi, the...
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