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Breaking: Tinubu signs 70,000 new minimum wage bill into law

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By Francesca Hangeior.

 

President Bola Ahmed Tinubu, has signed the new minimum wage bill into law.

Tinubu who presided over the Federal Executive Council, FEC, meeting, at the Council Chamber in the State House, Abuja signed the N70,000 the new minimum wage into law.

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Recall that the Federal government and Organized Labour yesterday settled for N70,000 as the new minimum wage.

The tripartite committee had submitted two figures in its report to the President as a result of disagreement among the government, the private sector and organized labour.

While the government and the private sector offered N62,000, organized labour demanded N250,000.

Speaking to State House correspondents after the meeting with the President, the Minister of Information and National Orientation, Mohammed Idris, said President Tinubu agreed to pay N70,000 from the initial offer of N62,000.

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“We’re happy to announce that both the Federal Government and Organized Labour have agreed on an increase on the N62,000. The new national minimum wage that we expect to submit to the National Assembly for legislation is N70,000.

“But that is not all. There is also a boost, Mr. President has assured to ensuring that massive investment is going to be made in the area of infrastructure. There is also a deepening of the investment of the Federal Government in renewable energy.

“More money is going to go into the acquisition of more buses, the CNG buses, Nigeria is going to be more CNG-compliant, according to the President.

“We’re moving in this transition to renewable and all other things Mr President has assured Labour, the issue of ASUU (Academic Staff Union of Universities), SSANU (Senior Staff Association of Nigerian Universities) and NASU (Non-Academic Staff Union of Educational and Associated Institutions) is also going to be looked at.

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“We are happy, we are very thankful for the role organized labour has played. They recognized the Federal Government’s role in ensuring that we have local government autonomy, and also ensuring that both Labour and government are on the same page.

“They have seen the magnanimity of the President and today, the leadership of Labour said they didn’t come here for negotiation, not at all, they came here in that deep sense of patriotism to ensure that Nigeria remains united, Nigeria becomes more prosperous and it is in that spirit that they agree with what the Federal Government has done today.

“We want to thank Labour for their patriotism. We also want to thank Mr President, the Federal Government, the sub-nationals and Organized Private Sector for going through this painstaking effort but also ensuring that at the end of the day, Nigeria is the winner for it all.”

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Core Public Servants hail Tinubu for appointing thoroughbred Procurement officer, Adedokun as BPP DG

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A group under the aegis of Core Public Servants, CPS hail President Bola Tinubu for appointing Dr Adebowale Adedokun, a thoroughbred Procurement officer as the Director General of Bureau of Public Procurement, BPP.

CPS in a congratulatory letter signed by Kudirat Akindero to Adedokun lauded President Tinubu for following due process and picking the most qualified to run the affairs of the soecialised agency.

In the letter, the ADSC said:

“Congratulations to Dr. Adebowale Adedokun, PhD (MCIPS, CMILT), on his appointment as the Director-General/Chief Executive Officer of the Bureau of Public Procurement (BPP).

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“This significant achievement reflects his extensive expertise and unwavering dedication to advancing public procurement in Nigeria.

“With over 20 years of robust experience in public service, Dr. Adedokun has made substantial contributions to procurement reform.

“His distinguished academic background includes a doctorate in Procurement and Supply Chain Management, complemented by four master’s degrees in Procurement, Finance, Technology, and Transportation Management.

” This diverse educational foundation equips him with a comprehensive understanding of the complexities inherent in procurement processes.

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“In his career, Dr. Adedokun has held pivotal roles, including serving as a National Consultant for the United Nations Development Programme (UNDP) on public procurement reforms.

“He represents Nigeria in the International Research Study on Public Procurement (IRSPP) and serves as a World Bank Resource Person on Sustainable Procurement. His commitment to capacity building is evident in his training of over 4,000 federal and state government procurement professionals nationwide.

” Additionally, he has been instrumental as the focal point officer for the UN Women Project aimed at empowering women in procurement in Nigeria and as the Project Coordinator/Procurement Node for the SPESSE – World Bank Project.

“Dr. Adedokun’s professional affiliations are extensive, including membership in the Chartered Institute of Procurement & Supply (CIPS), UK; Chartered Membership in the Chartered Institute of Logistics & Transport (CILT); Fellowship in the Institute of Strategic Management Nigeria (ISMN); Fellowship in the Institute of Management Consultants (ICMC), Nigeria; membership in the Nigerian Institute of Chartered Arbitrators (ACArb); Fellowship in the Nigeria Institute of Training & Development (NITAD); membership in the Nigeria Institute of Management (NIM); and membership in the Association of Certified Fraud Examiners (ACFE).

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In recognition of his consistent contributions to reform, Dr. Adedokun was honored with a Certificate of Special Recognition by USAID’s Nigerian Reforms Project in July 2009.

As he assumes the role of Director-General of the BPP, Dr. Adedokun’s extensive knowledge and experience are anticipated to significantly contribute to the agency’s strategic repositioning.

” His leadership is expected to advance efficiency, transparency, and accountability within Nigeria’s public procurement system.

Once again, congratulations to Dr. Adebowale Adedokun on this well-deserved appointment.

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Brain Drain, Infrastructure, Resource Allocation Challenges Of Health Sector – Reps

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By Gloria Ikibah
The House of Representatives has highlighted the detrimental impact of the mass migration of health workers from Nigeria, describing it as a major challenge to the country’s healthcare system.
The Chairman, House Committee on Health Institutions,  Rep. Amos Magaji, stated this during a public hearing on 16 bills aimed at establishing various health institutions, on Thursday in Abuja.
Rep. Magaji underscored the need for better distribution of healthcare facilities, particularly in rural areas, to address population growth and healthcare gaps.
He noted, “Recently, there has been an enormous migration of doctors, nurses, and other health workers in search of ‘greener pastures,’ leaving Nigeria’s health sector severely understaffed. To improve the sector, we must invest in human resources, medical intelligence, and the administrative appointment of capable persons based on merit.”
The Chairman also brought to light the infrastructural deficiencies in healthcare institutions across the country, citing inadequate funding, lack of maintenance, and insufficient equipment as recurring issues.
The Minister of Health, Prof. Mohammed Ali Pate, represented by Dr. Jimoh Olawale Salahudeen, in his submission warned against the duplication of health institutions, and stated that such efforts would strain the already scarce resources.
He explained, “Existing Federal Teaching Hospitals and Medical Centers in Nigeria, including those in the North West, already provide cardiovascular care and related services. Establishing a new institute would add financial burden without addressing the core issues.”
Pate also acknowledged the migration of health workers and the need for a stronger workforce to handle emerging health challenges.
“The Federal Ministry of Health supports the establishment of new institutions but insists on considering geographical spread, population density, and disease burden in proposed locations,” he added.
The hearing emphasised the need for balanced development in the healthcare sector, adequate funding for existing institutions, and policies to retain health professionals in Nigeria.
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Access Bank (UK) Limited to Acquire AfrAsia Bank Limited

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By Gloria Ikibah
Access Holdings PLC has announced that its subsidiary, The Access Bank UK Limited (“Access UK”), has signed a binding agreement to acquire a majority stake in AfrAsia Bank Limited, the third-largest bank in Mauritius by total assets.
Mauritius, known for its strong financial sector, which contributes 13.4 per cent to its GDP, offers Access UK a strategic base to grow its personal and corporate banking services.
This was contained in a statement by its Company Secretary, Sunday Ekwochi, made available to Naijablitznews.com on Thursday.
According to Ekwochi, the acquisition will also position Mauritius as a hub for Access Bank’s trade finance operations, enhancing its ability to manage cross-border transactions across Africa and internationally.
AfrAsia Bank, as of June 30, 2024, reported total assets of over $5.7 billion and a net profit after tax of $152.4 million, underlining its solid financial position.
**Key statements on the acquisition:**
– Managing Director/CEO of Access Bank Plc, Roosevelt Ogbonna, speaking on the acquisition said:  “This acquisition is a crucial step in our African growth strategy, strengthening our position as a top Pan-African financial institution. Mauritius’ role as a financial hub aligns with our vision to unlock opportunities that drive trade, support businesses, and promote economic inclusion across the region.”
Also Managing Director of Access Bank UK, Jamie Simmonds, stated: “AfrAsia Bank’s strong balance sheet and established brand in Mauritius give us a solid platform for sustainable growth. This deal supports our strategy to diversify earnings and provide clients with seamless access to global markets.”
Access Bank UK aims to promote sustainable growth, deliver innovative financial solutions, and support trade between Africa and the world.
The acquisition process will be finalized in the coming months, with updates provided as needed.
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