Category: 📃Supers News

The Economic and Financial Crimes Commission, EFCC, on Wednesday, said ex-Kogi State governor, Yahaya Bello, who is accused of N80.2bn fraud, had ridiculed the Nigerian justice system by failing to present himself for trial in court.

The EFCC acting Zonal Director, Benin Zonal Command, Mr Effa Okim, stated this during a familiarisation visit to the Delta State Council of the Nigeria Union of Journalists in Asaba, Delta State capital.

The EFCC is having a running legal battle with Bello over alleged N80.2bn fraud.

Following a failed attempt to arrest him and his repeated absence from court for his arraignment, the EFCC declared Bello wanted, while the Nigerian Immigration also placed the governor on a watchlist.

When asked on Wednesday why the EFCC had yet to arrest Bello weeks after he was declared wanted, an irate Okim claimed that the ex-governor was being shielded by the system.

“This is the last question I expected because the shame is on all of us. Is that a question I should answer alone? It’s not me, it is the Federal Republic of Nigeria,” the EFCC zonal director said.

“That politically-exposed Yahaya Bello, whose crime has been traced to him by allegation and has been invited by EFCC to come and explain, and for months he is acting drama and we are all here wanting to ask questions! The shame is our own shame!

“Can’t we catch him? We can, but do we go all out to catch him? Do we need to do that when he has his masters? Can’t they call him and tell him, ‘You are disgracing Nigeria’? What are you telling the world? Tell him to go and explain himself like others have done.

“Where are the ministers? Where are Yahaya Bello’s colleagues, even in his hiding? So, Nigerians can’t tell him ‘This is not fair, go and report; they are not going to kill you’? But people are still eating and dining with him.”

Okim said beyond legality, there was a moral aspect of the case.

“Where has morality gone before legality that we can’t summon that man and tell him to go and report himself to the EFCC? Some persons are writing, supporting him, while some are criticizing the commission.

“The problem is our own problem that borders on Nigeria’s image. Our children are watching their parents behave like children.

“To me, the truth has vanished. Even in Animal Farm, this will not happen, that a man who was part of the system that was a custodian of our culture, rules and laws can behave like this and you are asking questions.

“The media should come out for the first time to harmonise, criticise that action and forget about prosecution but tell him to make himself available; thereafter we know what to do.”

Okim said the criminal justice system had been ridiculed by the actions of Bello, “And because we respect the law, we want to go by the process, we are inhibited that does not make us weak.”

The Chairman, NUJ Delta State Council, Churchill Oyowe, assured the commission the support of journalists in the state.

 

 

 

As Nigerian workers await the new minimum wage as promised by President Bola Tinubu in his Democracy Day broadcast, ‘LAOLU AFOLABI takes a look at Nigeria’s journey towards economic stability and prosperity, which hinges on policies that address inflation, boost production, and ensure equitable wage distribution.

President Bola Tinubu, on Wednesday, announced that he would soon send an executive bill to the National Assembly to enshrine what has been agreed upon as the new national minimum wage for Nigerian workers.

The announcement by the President in his Democracy Day speech confirmed the report that the Tripartite Committee set up by the Federal Government to decide the new national minimum wage for the next five years had submitted the draft to the President, through the Office of the Secretary to the Government of the Federation.

To arrive at a consensus was an arduous task for the committee, considering the grandstanding of the Organised Labour and the insistence of the Organised Private Sector, the Nigeria Governors’ Forum and other stakeholders on a sustainable wage. The OPS on Friday, June 7, agreed with the Federal Government’s team on N62,000 minimum wage, the NGF insisted that even N60,000 was unsustainable while the labour unions dropped their demand from N494,000 to N250,000 as a living wage.

By definition, minimum wages are the minimum amount of remuneration that an employer is required to pay wage earners for the work performed during a given period, which cannot be reduced by collective agreement or an individual contract. The wages exist in more than 90 per cent of the International Labour Organisation member states and the Minimum Wage Fixing Convention 1970 (No. 131) of the ILO called for coverage of “all groups of wage earners, whose terms of employment are such that coverage would be appropriate.” The principle of full consultation with social partners lies at the heart of this convention.

In the 1999 Constitution (as amended) of the Federal Republic of Nigeria, fixing the national minimum wage is an item in its Exclusive list, which means, the minimum wage can only be legislated upon by the National Assembly and passed to the Executive for assent. Once signed by the President, it becomes binding on states and other employers.

Every civilian administration in the country, save the late President Umaru Yar’Adua, increased the minimum wage during the tenure. The first minimum wage in Nigeria, signed into law in 1981 by the late President Shehu Shagari, was N125. In 2000, the minimum wage was increased to N5,500 and N7,500 for state and federal workers respectively by ex-President Olusegun Obasanjo. Yar’Adua set up a tripartite committee headed by former Chief Justice of Nigeria, Alfa Belgore. The committee recommended N18,000, which was eventually signed into law in 2011 by ex-President Goodluck Jonathan. Buhari, in 2019, raised the stake to N30,000 and the lot has now fallen on Tinubu.

On January 30, 2024, Tinubu, represented by Vice President Kashim Shettima, inaugurated the 37-member tripartite committee, which was tasked with the responsibility of recommending a new national minimum wage for Nigerian workers in the public and private sectors, following the complaints that the current minimum wage of ₦30,000, which was signed into law on April 18, 2019 by ex-President Muhammadu Buhari, can no longer cater to the well-being of an average Nigerian worker.

Shortly after the committee was established, the labour unions embarked on an ambitious pursuit. The Nigeria Labour Congress and the Trade Union Congress of Nigeria jointly held regional delegate meetings with organised labour, presenting figures in anticipation of achieving a living wage. In their different proposals, the South-West NLC recommended N794,000, while the TUC mentioned N447,000; the North-Central zone demanded N709,000; South-South, N850,000; North-West, N485,000, while the South-East demanded N540,000 minimum wage. The Organised Labour would later propose N615,000 as the living wage.

In mid-2022, approximately 720,000 federal public servants in Nigeria earned their salaries. If each earned the proposed N615,000, the Federal Government would need to allocate N5.3tn annually, consuming about 20 per cent of the national budget for just 0.3 per cent of the population. Even the TUC President, Festus Osifo, acknowledged the infeasibility of such a high wage, admitting that both parties understood N494,000 was also unaffordable.

There was no difference in the approach by the labour unions and the governments this time and what happened before the government finally settled for N30,000 as minimum wage in 2019. The NLC had pushed for N56,000 in 2016 and N65,500 in 2018. By January 2019, the National Council of State approved the sum of N27,000 as the minimum wage. The state governors, through the NGF, expressed inability to pay the N30,000 except states would be bankrupt and, instead, they offered to pay N22,500, after a long and extensive deliberations. On April 18, 2019, ex-President Buhari signed the N30,000 minimum wage into law

After the 2019 minimum wage, the next review of the five-year enactment is in 2024, However, the parameters that demanded the review had gone out of the reach of the present administration. A position paper presented to the NGF and sighted by The PUNCH showed Nigeria’s economic trajectory over the past few years marked by significant fluctuations and challenges. The 2016 recession was the country’s most severe economic downturn since 1987. From 2017 to 2019, Nigeria experienced modest economic growth, which was abruptly halted by the onset of the COVID-19 pandemic in 2020. The economy rebounded in 2021 with a growth rate of 3.6 per cent, but this recovery was short-lived as growth declined to 3.3 per cent in 2022 and further to 2.7 per cent in 2023.

The Federal Government’s decision to eliminate fuel subsidies and implement a managed exchange rate float aimed at achieving economic stability inadvertently led to a cost-of-living crisis. The general price level of goods and services increased, decreasing purchasing power and increasing poverty levels. Headline inflation surged from 22.4 per cent in May 2023 to 28.9 per cent in December 2023. During the period, the price of Premium Motor Spirit rose from about N198/litre to N626/litre, and the naira devalued from N461/$1 to NGN1,493/$1. These adverse effects prompted mid-year budget amendments by state governments, reallocating resources for palliative measures and adjusting capital expenditure appropriations to accommodate variations in critical infrastructure projects.

The paper analysed that though the removal of subsidies and the managed float of the naira led to an increase in nominal Federation Account Allocation Committee revenues, the increase coincided with a surge in headline inflation, which diminished the real value of the additional revenues. The net deductions from FAAC increased marginally, from N1.39tn in the first half of 2023 to N1.52tn in the second half, indicating that the real-term value of revenues shrank due to inflation. The subsidy removal and exchange rate float only led to an additional nominal revenue of N231.7bn from FAAC in the second half of 2023, compared to the first half. This excludes foregone revenue through a debt swap agreement with the Federal Government and monthly savings directed to the Infrastructure Fund set up in June 2023.

The governors said between 2018 and 2022, financial statements revealed an average recurrent revenue growth rate of nine per cent, compared to a relatively lower average personnel cost growth rate of six per cent. Despite the revenue growth surpassing personnel-related cost increases, many states have not implemented the 2019 minimum wage. The three per cent difference between the average revenue growth rate and average personnel cost growth rate means that any significant revenue shock or notable rise in personnel costs could pose financial challenges for state governments.

The paper, looking into the viability of the state governments in the payment of the recommended N62,000 minimum wage, said wage increases result in higher salaries, wages, allowances, social contributions, and benefits, contributing to the total personnel costs. From 2018 to 2022, personnel costs steadily increased, rising from approximately N1.4tn in 2018 to about N1.8tn in 2022. Meanwhile, the total recurrent revenue (FAAC + IGR) averaged around N4.6tn within the same period, reaching N6tn in 2022.

In 2019, most states faced constrained fiscal space, preventing the implementation of the current minimum wage. During the COVID-19 pandemic in 2020, personnel expenditure substantially increased as a percentage of total recurrent revenue, averaging around 34 per cent and peaking at 41 per cent. This surge correlated with government palliative measures to alleviate the pandemic’s effects. Similar fiscal pressures are expected as states continue implementing policies to address the cost-of-living crisis by extending subsidies, investing in Compressed Natural Gas infrastructure, supporting food security, and providing tax incentives to ease the cost of doing business.

The governors said the value of additional revenues had shrunk due to the surge in inflation, restricting state governments’ response options to the current socioeconomic crisis. Therefore, they asked that any wage increase approach should align minimum wage adjustments with economic realities at the subnational level, prioritising the fiscal sustainability of states.

The position of the governors was corroborated by the former Governor of the Central Bank of Nigeria and Anambra State Governor, Chukwuma Soludo, at The Platform Nigeria, on Wednesday. The governor warned that not all state governments and the OPS can pay the N62,000 being proposed by the Federal Government and the N250,000 by the Organised Labour. He warned that an unsustainable wage might lead to job losses and spiral economic challenges in the country.

The Zamfara State Governor, Dauda Lawal, revealed that until recently, some workers earned as little as N7,000, underscoring the complexities of implementing a national minimum wage. In an interview session on Channels TV, Lawal said he had just commenced the implementation of N30,000 minimum wage in his state, five years after it was signed into law by ex-President Buhari.

The same is also reported of many states in the federation who had, since the moment, not adopted the N30,000 minimum wage, as they complained of the paucity of funds. Some states in the South and a few others in the North could boast of financial wherewithal to pay a hefty wage for its workers.

But the stance by the governors, as analysed in the position paper, was different from the steps taken by the Edo State governor, Godwin Obaseki, who, on April 29, long before the final draft of the report on the national minimum wage, had increased the minimum wage in the state to N70,000. Speaking on why he did so, Obaseki said, “The N70,000 minimum wage is within what we can afford as a State Government. However, should the Federal Government decide on a higher minimum wage and make the funds available to states from the savings which have been made from fuel subsidy, the Edo State Government will adjust its minimum wage to that of the Federal Government.”

Apart from the governors, some economic experts have also warned that without corresponding economic growth, the wage hike would exacerbate inflation, leading to higher prices and diminished purchasing power. They argued that the government, by increasing wages, might feel justified in neglecting deeper economic issues. Analysts pointed out that the real solutions lay in GDP growth, not merely raising wages. They emphasised that printing more money or increasing debt to fund wage hikes would only worsen inflation, leading to job losses and further economic instability.

As Nigerians grappled with the minimum wage proposals, the cost of living surged. Transport fares skyrocketed, with intercity bus journeys increasing by 78.31 per cent, while the price of essential commodities like yam and tomatoes soared by 400 per cent and 275 per cent, respectively. Under Tinubu’s first year, the exchange rate saw a staggering increase of 199.61 per cent, and interest rates climbed from 18.5 per cent to 26.25 per cent.

Many feared that raising the minimum wage without addressing inflation would merely perpetuate the cycle of hardship. As petrol prices, interest rates, and food costs continued to rise, the private sector and state governments, already strained, could not match the proposed wages.

Amidst these economic trials, a call for a balanced approach emerged. Many believed the Federal Government should propose a more realistic minimum wage, like N75,000, adjustable for inflation every two years, ensuring that the burden of economic adjustments did not fall solely on the workers.

As the nation navigated these turbulent times, the pressing questions remained: Who truly drives the economy, the NLC or the private sector? What impact would a new minimum wage have on living standards and the cost of goods and services? And most crucially, would a new wage halt the relentless tide of inflation?

In the end, Nigeria’s path to economic stability and prosperity depended on comprehensive policies addressing inflation, production, and equitable wage distribution. The story of FAAC and the wage debate highlighted the intricate dance between economic theory and the realities of millions of Nigerians.

 

Osun state governor, Ademola Adeleke, gives his 28 year old daughter, Adenike a one year ultimatum to bring a husband.

The politician made this very clear in a video they made for her YouTube channel.

She asked him what he thought about her not being married at her age.

His response was that he was expecting her to bring a man out of her numerous toasters as the one she wants to marry.

Governor Adeleke claimed that at her age, he was already married and with kids but women in this generation like to enjoy themselves before settling down.

See reactions to their video

dr_yoodie wrote: “May she find a man that will not take away her happy vibes. Amen”

sheddyoflagos said: “Daddy I’m a strong man who’s also single, I promise I’m not after your money”

abion1000 asked: “Why rich people daughter always find it hard to get husband”

blesanto_couture noticed: “Their bond is beautiful ❤️”

ezeqwesiri commented: “This pressure on women “bring home a husband” I’ve heard it many times… na woman go chyk man? 😂 How them go run am?”

spicybitz wrote: “Young Johnn is smiling 😂”

cakes_and_oven claimed: “He sounds so much like David governor 🥰, our jovial governor ✨”

Watch the video here

 

An elderly Nigerian man sparks discussion as he drinks Garri from a large pot while supporting it with a plate of beans.

This is revealed in a fresh post making waves on a popular social media platform.

In the video, the elderly man can be seen seated on the floor, soaking his hand inside a very big pot, and using his hand to fetch a portion of Garri and dip it into his mouth.

A closer look at the video shows the man looking very helpless and sad.

As the video made its way to social media, concerned individuals stormed the comment page of the post to share their thoughts.

See some reactions below:

Fabulous Omoaniyikaye: “😳I swear this one get money oooo.”

E: “he look up remember when he dey do giveaway.”

donbabalaw: “Let’s tag EFCC massively. Where him see this plenty garri???😳😳😳.”

Andy Elisabeth: “Shey na punishment be this one ni.”

biffoismail: “Why this man Dey waste food chaiii Garri my heart desire ❤️.”

L STAR: “Werey look up and be like who go help my life this 😂😂😂.”

Freshkiddo: “Garri no cost for your place abi.”

labbybaba: “one paint of garri for my area na 4k see this man.”

Eazylivinglarge: “Gari pass beans 😂water pass gari.”

 

 

 

The International Monetary Fund has predicted that Nigeria’s economy will reach $1.85tn by 2029, in Purchasing Power Parity terms.

This forecast suggests a significant growth trajectory for the country’s economy over the next five years.

According to the IMF data obtained by PUNCH Online, Nigeria’s Gross Domestic Product in PPP terms has been steadily increasing, from $1.36tn in 2023 to $1.852tn in 2029.

GDP is the most commonly used single measure of a country’s overall economic activity. PPP is a theory that relates changes in exchange rates to changes in price levels between countries, allowing for more accurate international comparisons of economic data.

The data shows a consistent growth trend, with a notable increase of 5.5 per cent expected in 2029.

The Fund also predicted Nigeria’s share of global GDP based on PPP to reach 0.78 per cent by 2029.

This represents a slight increase from 0.77 per cent in 2023, indicating a steady growth trajectory for the country’s economy.

The data suggests that Nigeria’s economy is gradually expanding, albeit slowly, and is expected to continue this trend over the next five years.

The country’s share of global GDP has remained relatively stable, fluctuating between 0.775 per cent and 0.778 per cent from 2024 to 2028.

Economists believe that this positive outlook is a testament to the country’s efforts to diversify its economy, invest in infrastructure, and promote foreign investment.

Nigeria, Africa’s largest economy, has faced significant challenges in recent years, including a recession in 2020 caused by the COVID-19 pandemic and a decline in oil prices.

Economist Shadrach Israel in an interview with our correspondent stated, “The IMF reports indicated that the government’s reforms and initiatives have contributed to the country’s economic growth.”

The trend of Nigeria’s GDP in PPP terms over the past few years indicates a steady recovery and growth. In 2024, the country’s GDP in PPP terms stood at $1.44tn, increasing to $1.51tn in 2025, and $1.587tn in 2026. The growth continued in 2027, with a GDP (PPP) of $1.67tn, and $1.759tn in 2028.

“The IMF’s prediction of Nigeria’s economic growth is a positive sign for the country’s future, indicating a potential for increased economic prosperity and development,” Israel noted.

 

 

Nigerian man sparks conversation as he advertises “wash and wear” condoms on a Lagos street, pricing each at #200.

This is revealed in a video making waves on a popular social media page.

The said man, seen advertising on an unnamed street in Lagos, stopped a bus driver to promote his product.

He shows off his wares while telling the driver that the goods he sells can be washed and worn.

The driver asked, “How much?”

In response, the seller revealed the price, saying, “Na #200 only for one, wash and wear.”

While at it, another man interfered, also advertising his wares.

The video attracted the attention of many social media users, who have stormed the comment section of the post to share their thoughts.

See some reactions below: 

@_Oluwagbona_: “The fact that they have so much in supply makes me wonder what the demand is & more interestingly WHERE TF DID THEY GET EM FROM?????”

@arrizo_squez: “Someone will buy oo. Infact ,dem get regular customers.”

@finesse_NG: “Nahhhhhh, this one is insane broo. Wtf.”

@BIGBEN13663187: “Guy that condom own na joke Sha? I mean all my 8 years in Lagos I didn’t see this ooo.”

@Naeyomi_o: “Lmao I was hoping it wasn’t Nigeria, till I heard Tinubu.”

Nigerian couple who has been married for 56 years shares tips about the success of their marriage while advising men against marrying more than one wife.

The aged couple residing in Ekiti State, Gbadebo, and his wife, Sarah, wore matching outfits during an interview with a gospel singer and creator, Gaise Baba.

Gbadebo mentioned her intelligence, loving nature, and romantic spirit when asked what he loves about his wife. Sarah described her husband as sympathetic and handsome.

The man attributed the longevity of their marriage to his decision not to marry more than one wife and advised other men to do the same. Sarah emphasized that knowing God was the secret to their marital happiness.

Netizens have since appreciated the couple for remaining strong in love despite the challenges they must have faced during their marital journey.

Watch the video below …

Young Nigerian lady could not hold back her joy as the Atlanta-based Nigerian influencer, Tunde Ednut posted the video of her gospel music-loving dog, Akanni.

The lady identified as @Temilade_temi had shared a video of her dog, emphasizing how her pet reacts unbothered to circular songs but immediately becomes proactive when it hears gospel music.

A Nigerian man sparked discussion by gifting a Babcock University student $100 for being respectful, she took to social media to flaunt the money.

This was revealed in a post made available online by the student on her page on a popular social media platform.

In the post, the Nigerian lady shows off a $100 note, maintaining that the money was given to her by an elderly man at Babcock University because she is respectful.

The revelation was accompanied by a caption attached to her video which reads: “Mood because an elderly man in BU gave me $100 for being respectful.”

The lady showed off the money and proceeded to dance, expressing her happiness.

As the video made its way online, concerned individuals stormed the comment section of the post to share their thoughts.

See some reactions below:

Shali_jnr💯: “So like this only one note na 145,000 naira.”

tiphany: “better don’t change it yet😭😭😭 wait till naira is 2000😭.”

md: “Where can I find him? I know how to greet too.”

jesse ☃️: “they don use you do ritual you Dey dance 😭😭.”

_mideriyo _: “how come things like this don’t happen to me and i actually greet everyone 😭😭.”

Esther💕G-Louis: “😂I’m confused, this same Babcock I’m trekking in?”

scotttttttt🧛: “abeg what’s his Facebook, asking for a friend.”

e n i o l a 🫧: “please I’ve always been a good girl 😭.”

Blinky: “Bobrisky would be shocked that good girl dey pay since him dey absent.”

ZIMMY: “abeg they should come to iperu campus too😔.”

Dreamgirl🌸🦋: “I go dey kneeldown greet everybody now.”

Amaka💕: “Na too dey great anybody wey I see for road now. Cause what😭.”