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Bakers on The Verge of a Nationwide Strike

20Jul

By Osaretin BalogbanNo Comments

Cost of Living, Economy, Nigeria

Bakers on The Verge of a Nationwide Strike

The Association of Master Bakers and Caterers of Nigeria threaten to stop their services across the country from henceforth. The association's reasons are the hike in the price of bakery materials, the cost of diesel, and other related issues which affect their services. The union had threatened to embark on a strike as of the 25th of June for the same reasons. Abuja’s Union Chairman of AMBCN, Ishaq Adbulrahehem, disclosed that the new development is a result of the increase in the price of bakery materials such as flour, sugar and other baking ingredients. He said: “We are withdrawing our services nationwide. We expect government’s response so that we can review whatever we are doing. The high cost of ingredients, rate at which we are buying diesel – which is N880 per litre ...

Fuel Price Hike: Lagos, Abuja Residents Suffer as Price Increases

12Jul

By Osaretin BalogbanNo Comments

Africa, Cost of Living, Economy, Lagos News, Nigeria, Petroleum

Fuel Price Hike: Lagos, Abuja Residents Suffer as Price Increases

Nigerians are experiencing an unofficial fuel price hike as numerous filling stations have increased their pump prices from the regulated N165. The hike in price is confirmed to be rampant in the city of Abuja and Lagos. African News Today gathered information that certain petrol stations sell their product for N220 per litre. Even amongst the hike, some stations refused to sell leading to a scarcity of petrol in some areas. In Lagos, filling stations such as Ardova and MRS filling stations located along Lekki Expressway sold at the price of N180 and N200 per litre. see also: Fuel Subsidy Is A Scam – Peter Obi Rosebol filling station located at Ipaja metered their petrol at N180 per litre and N190 per litre was sold at Mao filling station situated at Kola. A motorist...

Eat Cassava If Wheat Is Expensive, President Museveni Tells Ugandans

23May

By Chukwuebuka FestusNo Comments

Agriculture, Cost of Living, Economy, News, Uganda

Eat Cassava If Wheat Is Expensive, President Museveni Tells Ugandans

Ugandan President Yoweri Museveni says his government will not intervene in the current economic situation amid a rising cost of living. Prices of petroleum products, imported raw materials and food have been rising in recent months, a crisis being experienced globally following the war in Ukraine. In a televised national address on Sunday night, Mr Museveni said that government subsidies or removal of import taxes would collapse the economy. There would be a haemorrhage of dollars from the national reserves for the purchase of those expensive products, he added. Read Also: Peter Obi Warns That Nigerians Now Spend 100% Of Salary On Food Mr Museveni said Uganda will need to frugally use the imported items it can afford. He advised citizens to substitute expensive whea...

Labour Day: Kenya, Morocco To Increase Minimum Wage

2May

By Chukwuebuka FestusNo Comments

Cost of Living, Kenya, Labour, Morocco, News

Labour Day: Kenya, Morocco To Increase Minimum Wage

The governments of Kenya and Morocco are set to increase the minimum wage to cushion workers against further erosion of their purchasing power. Speaking at Labour Day celebrations in Nairobi, Kenya's President Uhuru Kenyatta said a rise of 12% was necessary to help workers cope with a surge in consumer prices, which has been partly driven by the war in Ukraine. “As a caring government, we find there is a compelling case to review the minimum wages so as to cushion our workers against further erosions,” Kenyatta said at a Labour Day rally. Minimum Wage Increase He said the 12 percent increase would come into effect from May 1. It takes the minimum monthly wage from 13,500 Kenyan shillings (about $116.5, 110.5 euros) to 15,120 shillings ($130.5, 124 euros). Read Also...

FG Has Built 19,478 Out Of 300,000 Homes For Nigerians -Osinbajo

12Feb

By Chinedu IbeakanmaNo Comments

Cost of Living, Infrastructure, News, Nigeria

FG Has Built 19,478 Out Of 300,000 Homes For Nigerians -Osinbajo

Vice President Yemi Osinbajo has said that under the Buhari regime, the Economic Sustainability Social Housing programme has built 19,478 out of its targetted 300,000 units for Nigerians.This is as he said, the regime remains determined in its vision to build a nation where low-income earners have the dignity of a decent home and livelihood.Osinbajo spoke on Friday in Masaka, Nasarawa State, at the commissioning of 248 housing units and commemoration of the 1,000th home built by the Millard Fuller Foundation, MFF.Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, disclosed this in a statement he signed on Friday titled ‘Vibrant housing market will boost Nigeria’s economy, people’s livelihood — Osinbajo’.The Vice President, who described the commis...

Why Our Cement Costs Less in Zambia Than Nigeria – Dangote Cement Plc

13Apr

By Obiajulu Joel NwoluNo Comments

Cost of Living, News, Nigeria

Why Our Cement Costs Less in Zambia Than Nigeria – Dangote Cement Plc

Following the uproar generated by the recent reports that Dangote Cement Plc sells cement at a higher price than it sells to other countries, Zambia notably, its management has clarified that a bag of cement from its factories and plants across Nigeria (as of 12th April 2021) is N2,450 in Obajana and Gboko and N2,510 in Ibese, VAT inclusive. Reports recently surfaced that Dangote cement sells for 110 Kwacha in Zambia which is equivalent to about N1,800 in naira, while Nigerian consumers buy the same product for at least N3,500. Reacting, the Dangote Cement Group has said it cannot control the prices of its products when it gets to the market. Devakumar Edwin, the group’s Executive Director, Strategy, Portfolio Development and Capital Projects, disclosed that while a bag of Cement ...

Claims Buhari Promised to Make One Naira Equal to One Dollar Fake – Presidency

29Mar

By Obiajulu Joel NwoluNo Comments

Cost of Living, News, Nigeria

Claims Buhari Promised to Make One Naira Equal to One Dollar Fake – Presidency

The Presidency has rubbished claims that President Muhammadu Buhari administration had at any point in time promised to make one naira equivalent to one dollar. The Special Adviser to the President on Media and Publicity, Femi Adesina said that such promise was never made and tagged reports of claiming otherwise as fake. Adesina stated this when he featured as a guest on Channels Television’s Sunday Politics. He said, "It does not exist, it is fake, it is false, it is apocryphal, it doesn't exist." Adesina said the minister of information, Alhaji Lai Mohammed, debunked the claim many times and challenged anyone with clips and publications to make them available. Reacting to negative criticisms directed at the president and the administration, Mr. Adesina said Nigerians must ...

PPPRA Deletes Template Announcing N212/Per Litre Petrol Price

12Mar

By Obiajulu Joel NwoluNo Comments

Cost of Living, Finance, News, Nigeria, Petroleum

PPPRA Deletes Template Announcing N212/Per Litre Petrol Price

The Petroleum Products Pricing Regulatory Agency, PPPRA, has deleted an earlier published template announcing an increase in the retail price of petrol The PPPRA had published a new template on Thursday night that showed an increase in the pump price of petrol from N186 to N212 per litre. According to the template, the retail price of petrol was put on the market band of N209.61 and 212.61. Usually, marketers sell at the upper band. The March template showed that the landing cost for petrol per litre is N189.61 with the ex-depot price put at N206.42 per litre. Though the rationale behind taking down the post could not be ascertained, reports suggest it was informed by the backlash which trailed the petrol price hike. The controversial template was previously accessible using...

TUC Tackles Sylva Over Impending Fuel Price Hike

10Feb

By Obiajulu Joel NwoluNo Comments

Cost of Living, Economy, News, Nigeria, Petroleum

TUC Tackles Sylva Over Impending Fuel Price Hike

The Trade Union Congress, TUC, has faulted the Minister of State for Petroleum Resources, Chief Timipre Sylva, over his comment that Nigerians should get ready for the pain associated with the increase in crude oil price. The Manufacturers’ Association of Nigeria, the Lagos Chamber of Commerce and Industry and other critical stakeholders also urged the Federal Government to use rising revenue from crude oil to tackle poverty and drive an all-inclusive growth. They said this in separate interviews with The Punch on Tuesday while reacting to a statement by Sylva, who earlier alerted Nigerians to expect benefits and pain from the rising price of crude oil in the world market. Nigeria’s dependence on crude oi for about 50 per cent of government revenues and over 90 per cent of export ...

Northerners the Poorest in Nigeria Despite Being in Power More – Yakasai

17Jan

By Obiajulu Joel NwoluNo Comments

Cost of Living, Finance, Infrastructure, News, Nigeria

Northerners the Poorest in Nigeria Despite Being in Power More – Yakasai

Alhaji Tanko Yakasai, a founding member of the Arewa Consultative Forum has said other regions in the country have formed the habit of blaming the north for their challenges when the North has the most number of poor people. The elder statesman said that the North had varied challenges despite producing more leaders compared to the South. This was contained in his speech at an online conference monitored by The Punch, themed, ‘The 2nd Never Again Conference: 51 years after the Nigerian-Biafran civil war’, hosted by Nzuko Umunna, an Igbo Think Tank, in partnership with Ovation International and Njenje Media. Some southern leaders have alleged that the North plans to dominate leadership positions and accord other regions second-class citizens status. The North on the other hand t...