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FG, Labour To Reconvene Next Week Over Minimum Wage Negotiation
The Tripartite Committee on Minimum Wage will reconvene on Tuesday, May 23 to further negotiate a reasonable new minimum wage for workers, after the organised labour walked out of the negotiation on May 15.
An invitation letter sent to the labour leaders by the chairman of the committee, Bukar Goni, states that the other members of the committee have agreed to shift grounds from the N48,000 proposal which was made on Wednesday.
The letter appealed to the labour leaders to speak to their members and attend the reconvened meeting next Tuesday.
The organised labour comprising the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have proposed a new minimum wage of N615,000, which is way higher than the N48,000 proposal by the government.
The organised private sector, on the other hand, proposed an initial offer of N54,000. After dumping the talks, the labour leaders addressed a press conference where they expressed their anger over the Federal Government’s offer.
They blamed the government and the private sector for the breakdown in negotiation.
The Federal Government had failed to present a nationally acceptable minimum wage to Nigerians before the May 1 Labour Day.
The situation has forced labour to be at loggerheads with the government. In the wake of the tussle, the NLC President Joe Ajaero insisted on the N615,000 minimum wage, arguing that the amount was arrived at after an analysis of the economic situation worsened by the hike in the cost of living and the needs of an average Nigerian family of six.
Ajaero and labour leaders have given the Federal Government a May 31 deadline to meet their demands.
On January 30, Vice President Kashim Shettima inaugurated the 37-member tripartite committee to come up with a new minimum wage.
With its membership cutting across federal, and state governments, the private sector, and organised labour, the panel is to recommend a new national minimum wage for the country.
During the committee’s inauguration, the Vice President urged the members to “speedily” arrive at a resolution and submit their reports early.
“This timely submission is crucial to ensure the emergence of a new minimum wage,” Shettima said.
The 37-man committee is chaired by the former Head of the Civil Service of the Federation, Goni Aji.
With the cost of living rising following the removal of fuel subsidy, calls for a new minimum wage have continued to make headlines in Nigeria.
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Edo Guber: Akpata Casts Vote, Says INEC Must Conduct Free, Fair Election
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The Top Five Strongest Currencies In The World (+Photos)
By Ojomah Austin.
Currencies are one of the most important factors in the global economy and play a large role in determining trade agreements, as well as representing the strength and stability of varying nations.
There are over 180 currencies recognised worldwide by the United Nations as legal tender, all with varying strengths. The strongest currency globally doesn’t owe its value to its popularity or usage, but rather to its purchasing power.
Express.co.uk has looked into the strongest currencies of 2024 – and found that neither the British pound nor the US dollar top the list.
5. British pound
The British pound comes in at fifth on the strongest currency list. First introduced in the 1400s and decimalised in 1971, the independent, free-floating currency is very strong.
The Gibraltar pound, which is ‘pegged’ to the British pound, also comes in at number 5, with the British territory introducing its currency in the 1920s.
4. Jordanian dinar
The Jordanian dinar is the fourth strongest currency in the world, with one dinar being valued at 1.07 Pound sterling, and £1 being worth 0.94 Jordanian Dinar.
The dinar entered circulation in Jordan in the 1950s. The land-locked country in the Middle East has an economy largely dependent on oil and gas exports, but also tourism, banking and pharmaceutical sectors.
3. Omani rial
Largely dependent on oil reserves, Oman’s prosperous economy has led to the nation having one of the world’s strongest currencies. The rial was introduced in Oman, which lies on the southeastern coast of the Arabian peninsula, in the 1970s.
One rial is worth 1.97 Pound sterling, and £1 is worth 0.51 Omani Rial.
2. Bahraini Dinar
Another Middle-Eastern currency tops the charts, with the Bahraini Dinar being the second strongest currency in the world. The diversified economy of Bahrain contributes to its currency’s success, with strong oil, gas, finance and tourism industries.
The dinar was introduced in 1965, with 1 dinar being worth 2.01 Pound sterling, and £1 being worth 0.50 Bahraini Dinar.
1. Kuwaiti Dinar
The strongest currency in the world is the Kuwaiti dinar. One dinar is equal to 2.48 Pound sterling, and £1 is equal to 0.40 Kuwaiti Dinar.
Kuwait, which is a country in the Middle East, introduced the dinar in 1961. The nation’s lucrative oil reserves can attest to its currency’s considerable economic strength, which lies in the Persian Gulf.
News
FG shuts Eko Bridge, ramps for 8-week repairs
The Federal Government has shut down the Eko Bridge and Ramps for eight weeks for essential asphalt resurfacing.
The Federal Controller of Works, Lagos, Mrs Olukorede Kesha, made this known in a statement on Saturday in Lagos.
Kesha said the Federal Ministry of Works plans essential asphalt resurfacing work on Eko Bridge and Ramps for eight weeks effective from Friday, September 20, by 7.00 a.m, through November 20.
According to her, due to the closure, there will be detours and alternate routes for drivers.
Providing information on how to navigate the area during the closure, she said motorists going to the Island from Funsho Williams Avenue, should use the service lane at Alaka to connect Costain and access Eko Bridge.
“The closure will be full at some sections of the bridge and partial at other sections.
“This critical project aims to improve road safety and enhance the driving experience of motorists.
“The work involves milling of the existing asphalt and relaying new asphalt on the bridge and Ramps. This will address wear and tear and ensure a smoother, safer roadway,” she added.
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