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Federal Government Offer N27, 000 Minimum Wage

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Eniola Olayemi

 

Yesterday’s approval of N27, 000 as the minimum wage for states and N30, 000 for federal workers, the stage is set for the stage for the transmission of a New National Minimum Wage Bill to the National Assembly.

Labour & Employment Minister Chris Ngige briefed reporters at the State House in Abuja on the outcome of the Council of State meeting, chaired by President Muhammadu Buhari.

According to him, the bill approved by the Council includes N30, 000 minimum wages for federal workers and N27, 000 as the minimum for states and the private sector.

The proposal, he said, will cover employers of labour with minimum of 25 workers.

The Federal Executive Council (FEC) and the National Economic Council (NEC) had earlier met to consider the bill, which Senator Ngige said will be transmitted to the National Assembly today.

He said that the concerned committees in the National Assembly will work on the bill in case the National Assembly is on recess.

Ngige said:”As you are aware, we have had series of consultations on the new national minimum wage, starting from the inauguration of the tripartite committee in September, 2017 by Mr. President.

“This committee was to handle all the issues surrounding the new minimum wage. It made use of laws, constitution, conventions on minimum wage fixing and specialist bodies like the National Bureau of Statistics, NISER and all other bodies that have to do with economic research.

“The Federal Executive Council received the report and after a tortuous debate at that level, treated it. The National Economic Council, comprising governors and the vice-president as chairman, looked at the report and finally today, the Council of State.

“These three organs have permitted Mr. President now to transmit to the National Assembly the new National Minimum Wage Bill.

“Thus, in consonance with the fact that the issues of national minimum wage prescription is in the exclusive list, second schedule, item 34 and being on that list, it is not a job that can be done by the executive alone.

“The President has to transmit the bill to the National Assembly and the National Assembly will take legislative action and return the bill that has been so treated to the President for his assent.

“So, a bill will now be transmitted to the National Assembly that will amend the 1981 Act and 2011 Act. The highlight is what you want to know. The figure of N27, 000 monthly has been approved for transmission to the National Assembly.

“The frequency of the review of the bill is five years, to get it in consonance with pension law of the federation as enshrined in the constitution.”

Ngige said the Federal Government will add N30, 000 to the minimum wage of N27, 000 approved for states for those on its payroll.

According to him, state governments and private sector operators are at liberty to pay above the N27, 000 proposed in the bill.

The minister went on: “Exemptions to this bill will be establishments that are not employing people up to the number of 25. The various times prescribed have also been altered in the bill and will be sent to the National Assembly before the close of work tomorrow (today).”

Ondo State Governor Oluwarotimi Akeredolu briefed reporters on the Council’s decision on the presentation made by the Independent National Electoral Commission (INEC).

Akeredolu said: “The council was briefed by the INEC Chairman (Prof Mahmood Yakubu) and the briefing as accepted by everybody was lucid and clear. It was all encompassing. The INEC chairman took the council through all the processes that are going to be followed at the national and state elections.

“In his briefing, he informed the council of the preparedness of INEC and everybody in the council was convinced that INEC was ready for this election. And a lot of things have been put in place and I think we all concluded that it is important for the chairman to even speak to the nation on the preparedness of INEC for this election.

“That would convince all of us that this forthcoming election would be free and fair and then the way we see it. They have improved card readers, the details of what have been done to improve it were made known.

“It was made known that look, the process of continuous voting and accreditation system was the best so that when you are accredited, you vote at the same time and you leave.

“He also informed the council on all the necessary ballot boxes and everything to be used and change in the ballot boxes. He also informed us that rather than using collapsible ballot boxes, they are going to use framed ballot boxes, transparent ones because we have lost so many and a lot have been purchased.

“He also told the council that they are not lacking in terms finance and that all the money appropriated, have been given to them and they are ready for the election.

“And he went further to inform the council that all training and retraining of every category of staff that they will use have started and they are having consultations with every group of people, religious, artisans and trade unions and so on.

“He has informed us that there is no way they are going to go out of the category of people they use for election when it comes to the issue of university vice-chancellors, university students at times, and NYSC members.

“So, everybody was convinced. INEC as at today is ready for election and questions were put, he was interrogated and he responded and gave adequate explanations to the satisfaction of every one of us.”

On the alarm raised by Obasanjo, Akeredolu said: “Well, let me tell you, this point you made, the chairman of INEC, without being specific, made a point. And that point is what I want all of us not only in this hall, but the whole of Nigeria, that the success of election is not by INEC alone.

“Election will only be successful by the participation of everybody and that whatever it may be, we must take politics out of the exercise. All of us owe a duty as leaders of our people at least, to be sure that we have confidence in the electoral body so that at the end of the day, assist the electoral body to succeed.

“And I think the message is very clear to everybody. I think that all of us in the hall have heard that look, whatever it is, we have now listened to the chairman of INEC and we are convinced that they are prepared for the election.

“I am not sure any other person will come out to talk about INEC any longer. So, the point has been made; all of us now have our hands on deck to ensure the success. Because, without our participation and without our cooperation, INEC itself cannot be successful.”

On the allegation that the opposition is working with terrorists to disrupt the elections, he said: “Seriously, there was no discussion on that. As we mentioned to you, what we received was briefing by INEC on how prepared they are for the election.

“So, their level of preparedness that was what we listened to. There is no way INEC will come and tell us, they have information on what opposition is doing or what opposition is not doing but what INEC is doing is what was received and there was no discussion about that. I am not too sure that we have that fact.”

 

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Access Bank Secures DFIs’ USD 100 Million Facility led by German DEG for MSMEs and Gender Equality in Nigeria

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Access Bank Secures DFIs’ USD 100 Million Facility led by German DEG for MSMEs and Gender Equality in Nigeria

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Access Bank Plc has successfully closed a USD 100 million senior loan facility with a consortium of Development Finance Institutions (DFIs), led by the German DFI DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH, and supported by FinDev Canada, Amsterdam-based asset manager ILX, as well as Austrian DFI OeEB, Oesterreichische Entwicklungsbank AG.

This significant financing will support privately-owned MSMEs, small corporates, and family-owned businesses across Nigeria, with a particular focus on promoting female entrepreneurship and economic empowerment.

At least 30 per cent of the facility will be dedicated to gender lens investing in the spirit of the 2X Challenge, ensuring that women-owned and women-managed businesses are prioritised. This initiative is crucial in Nigeria, Africa’s most populous country, where supporting women entrepreneurs and MSMEs can drive job creation and contribute to reducing inequality.

Roosevelt Ogbonna, Group Managing Director of Access Bank Plc, commented on the partnership, saying:

“At Access Bank, we remain steadfast in our commitment to driving economic transformation and fostering inclusive growth across all the countries we operate. This partnership not only strengthens our ongoing efforts to empower women in business but also reinforces our support for Nigeria’s MSME sector, which plays a pivotal role in the country’s economic development. Through strategic collaborations like this, we continue to enhance opportunities for underserved communities, and we look forward to building on this success to impact even more lives across Africa.”

This facility marks the fourth collaboration between DEG and Access Bank Group, but it is also the first time in their eight-year partnership that DEG’s has acted as the lead arranger. DEG’s investment in the deal amounts to USD 25 million, strengthening the long-term relationship between the two institutions.

Also, Roland Siller, CEO of DEG shared his thoughts on the partnership, stating that:

“This financing marks a major step in our ongoing commitment to supporting inclusive growth in Africa. By partnering with Access Bank, we are not just empowering women entrepreneurs and strengthening MSMEs but also investing in the future of Nigeria’s economy. This collaboration, which has blossomed over the last eight years, goes beyond just providing funding and speaks to our shared commitment in creating sustainable, long-term opportunities that foster job creation and innovation. At DEG, we are focused on helping businesses in developing and emerging markets thrive, offering not just financial support but also advisory services that help them scale and succeed. Our work with Access Bank is a clear example of how we can build stronger economies through impactful, sustainable investments.”

In 2024, Access Bank made significant social and environmental impact across the continent, touching millions of lives and earning multiple industry accolades. Through various corporate social investment initiatives in education, entrepreneurship, health, and the environment, the Group reached over 21 million individuals across Africa. Through its W-Initiative, the Bank disbursed loans to over a million women-led SMEs, advancing financial inclusion and gender empowerment.

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Buy Africa, it’s not inferior”: Ogbonna, Mene, Zubairu Chart Path for Developing Continental Trade at Africa CEO Forum

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Buy Africa, it’s not inferior”: Ogbonna, Mene, Zubairu Chart Path for Developing Continental Trade at Africa CEO Forum

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

At the Africa CEO Forum, leaders from across the continent gathered to discuss the critical role of private sector-led growth in the development of African trade and market integration under the topic “Fast-tracking African Integration: The Private Sector Imperative”.

The session, which was one of the highlights of the 2-day event in Abidjan, saw Roosevelt Ogbonna, Managing Director/Chief Executive Officer of Access Bank, join Wamkele Mene, Secretary General of the AfCFTA, and Samaila Zubairu, President & CEO of Africa Finance Corporation (AFC), in a powerful conversation focused on the opportunities and challenges for Africa in the face of shifting global trade dynamics.

The panellists were united in their belief that Africa’s transformation hinges on the development of regional value chains, the scaling of intra-African trade, and the need to build both financial and infrastructural capacities that will enable economic integration. In his remarks, Ogbonna underscored the potential for the continent to reframe its narrative and urged African nations to embrace their strengths.

He stated, “Years ago, if you told someone something was made in China or Taiwan, it was often seen as inferior. Fast forward 30, 40 years, and now ‘Made in China’ is a symbol of quality, and ‘Made in Taiwan’ commands respect globally. The difference? These countries built a strong domestic market that allowed them to scale, build proficiency, and innovate. Africa is no different. We have everything we need, from abundant raw materials and vast natural resources, to a youthful population and fertile land. There is no reason why Africa has not yet transformed itself into the powerhouse we know it can be. Africa has what it takes to win, and my charge remains the same as I gave during our inaugural Africa Trade Conference in South Africa: Buy Africa, it’s not inferior!”

Mene and Zubairu echoed Ogbonna’s sentiments, with Mene highlighting the tangible steps taken to drive integration, such as the introduction of the e-Tariff Book and the AfCFTA Adjustment Fund. Zubairu emphasized the critical need for synergy between public and private investment to address Africa’s infrastructure gaps and finance its development priorities.

The discussion also focused on the barriers preventing the scaling of intra-African trade, notably the lack of adequate logistics and transport infrastructure. The Pan-African Payments and Settlement System (PAPSS) was highlighted as a potential game-changer in unlocking new cross-border trade opportunities by facilitating smoother payments and transactions.

Ogbonna reinforced the importance of private sector involvement in regional trade, particularly for micro, small, and medium-sized enterprises (MSMEs). “Africa’s MSMEs are the backbone of its economy,” he said, “yet they face a trade finance gap of around $120 billion. Financial institutions must innovate to close this gap and provide the liquidity these businesses need to grow and scale.”

As Africa continues to explore new avenues for trade and investment, Ogbonna’s message resonated with the audience: the time is now for Africans to believe in Africa, invest in Africa, and transform the continent into the economic powerhouse it is destined to be.

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Jamara Home Celebrates Mothers with an Extensive Range of Exceptional Products this Mother’s Day

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Jamara Home Celebrates Mothers with an Extensive Range of Exceptional Products this Mother’s Day

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H


Jamara Home, one of Nigeria’s leading destinations for electronics and home appliances, celebrates this year’s Mother’s Day with heartfelt appreciation and a variety of items to help customers honor the incredible women in their lives.


From practical everyday solutions to thoughtful lifestyle upgrades, Jamara Home has in stock a wide selection of products to suit every type of mum because every mother deserves to be celebrated in a way that’s as special as she is.


Rabi Jammal, Managing Director of Jamara Home, says: “We see mothers as the unsung heroes of our everyday lives. This celebration gives us an opportunity to express our gratitude and to help our customers do the same through products that are thoughtful, meaningful, and heartfelt.”


Customers can shop a curated lineup of top-quality essentials and gifts, including:
Gas Cookers for dependable everyday cooking.


Refrigerators and Freezers to keep meals and moments fresh Smart TVs for entertainment that brings the family together Air Conditioners for cool, comfortable living Kitchen Tools & Appliances for enhancing convenience and creativity in the home With showrooms located in Lagos and Port Harcourt, Jamara Home has become a trusted household name known for quality products and customer-focused service.

The brand’s seamless omnichannel presence, combining user-friendly online shopping with physical retail experiences, ensures convenience and authenticity at every touchpoint.


To explore the full range of exceptional products by top brands from Jamara Home, visit the online store or locate the nearest Jamara Home showroom.

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