Business

Nigerian Universities threaten strike action over N880Billion debt

Published

7 years ago

August 11, 2017

University teachers are set for another strike over the controversial 2009 agreement they reached with the Federal Government among other issues.

A meeting of the National Executive Committee (NEC) of ASUU will hold today in Abuja ahead of the action.

Yesterday, all chapters of the union nationwide held a congress as directed by its national body to decide whether or not to go ahead with the planned strike.

The options given to them are: Whether it should be total and indefinite strike, one month strike, one week notice, and no strike at all.

This followed the directive sent to branches by ASUU National President Prof. Biodun Ogunyemi as he was mandated by the NEC meeting held at the Nasarawa State University (NSU).

Chairman ASUU-Lagos State University (LASU) Dr Isaac Akinloye Oyewunmi said yesterday that the chapter resolved in favour of “total and indefinite strike”.

In August last year, the union threatened strike over thengovernment’s failure to implement the 2009 agreement.

According to the reports gathered by Eyes Of Lagos, Coordinator of ASUU (Lagos Zone) Prof Olusoji Sowande, said the union was tired because efforts to get the agreement honoured were fruitless.

The union listed some of the unresolved issues as: Breach of the Memorandum of Understanding (MOU) for the 2009 FG/ASUU Agreement on financing of state universities; breach of the conditions of service; refusal to honour the Earned Academic Allowance (EAA) and re -negotiation of the agreement.

In January, ASUU staged a one-week warning strike.

Union officials said the Federal Government is owing universities over N880 billion in intervention fund.

Other issues according to ASUU oficials are: The Federal Government’s foot-dragging over ‘funds for the revitilisation of public universities, non-release of NUPEMCO operational licence, non-payment of earned academic allowances, payment of fractions/non-payment of salaries, retired professors and their salaries and university staff schools’.

The official said ASUU explored all channels to make the Federal Government see reasons but said: “It seems the Federal Government is more concerned with buying exotic vehicles for the National Assembly while public education and lecturers continue to suffer owing to dilapidated infrastructure.”

He said the union was angry at the failure of the Federal Government to release the operational licence for the union’s pension managers after collecting N1 billion since two years ago.

“Till date the government is owing the intervention funds to the tune of N880 billion. When we approached them for licensing of Nigerian Universities Pension Management Company (NUPEMCO), they asked us to go and bring registration fee, which is supposed to be N150million. Till date, we have paid government N1 billion and our money has been with them for two years and they are not saying anything.

None of this pension administrators can fulfill the University Miscellaneous Act which says university professors must retire with their full money. The money must have been invested and yielding interest for somebody. We are demanding our licence and funding of public universities.”

Business

Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal

Published

16 hours ago

December 21, 2024

Sahara Weekly

Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal

…As Dangote Refinery partners MRS to sell PMS at N935 per litre nationwide at its retail outlets

Sahara Weekly Unveils That The Foremost entrepreneur and President of the Dangote Industries Limited, Aliko Dangote has commended President Bola Ahmed Tinubu for the positive impact of the naira for crude swap deal on the Nigerian economy, which has led to reduction in prices of petroleum products in the country.

To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit (PMS) from N970 to N899.50 at its Refinery loading gantry and provided generous credit terms to marketers.

“To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre” he added. This price has already commenced in Lagos, and it will be offered nationwide from Monday.

In his statement, he called on other oil marketers such as the NNPC Retail and all other marketers, “to work with us to ensure that Nigerians enjoy high-quality petrol at discounted prices.”

According to him, “The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high quality petrol at cheaper prices. Our aim is for all Nigerians to have ready access to high quality petroleum products that are good for their vehicles, good for their health, and good for their pockets.

Recall that in September, the Federal Executive Council (FEC) under the leadership of Mr. President approved the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira. The move, which commenced on October 1, led to reduced pressure on the dollar and ensured the stability of the local currency.

Dangote thanked Nigerians for their unwavering support and the government for creating an enabling environment for the domestic refining industry.

Business

Port Harcourt Refinery Stays Active: NNPC Denounces Sabotage Rumors

Published

23 hours ago

December 21, 2024

Sahara Weekly

Port Harcourt Refinery Stays Active: NNPC Denounces Sabotage Rumors

NNPC Debunks Shutdown Rumors, Confirms Port Harcourt Refinery Fully Operational

The Nigerian National Petroleum Company Limited (NNPC Ltd) has dismissed reports circulating in certain media outlets claiming that the Old Port Harcourt Refinery, which was re-streamed two months ago, has been shut down.

In a statement released by Olufemi O. Soneye, the Chief Corporate Communications Officer of NNPC Ltd, the company clarified that the refinery is fully operational. The statement noted that the facility’s operational status was recently verified by former Group Managing Directors of NNPC during a site inspection.

“Preparation for the day’s loading operation is currently ongoing,” the statement confirmed, emphasizing that allegations of the refinery’s shutdown are baseless and intended to create panic or artificial scarcity in the fuel market.

NNPC Ltd urged members of the public to disregard such misleading reports, labeling them as the work of those seeking to exploit Nigerians.

The Old Port Harcourt Refinery has been in operation since its re-streaming, and the company remains committed to ensuring stability in the supply of petroleum products across the country.

Business

Nigerian Banks Donate Multimillion Naira Relief Materials to Jigawa Flood Victims

Published

2 days ago

December 20, 2024

Sahara Weekly

Nigerian Banks Donate Multimillion Naira Relief Materials to Jigawa Flood Victims

In a show of solidarity, the Committee of Banks in Nigeria has extended a helping hand to victims of the September 2024 floods in Jigawa State. On Thursday, a high-profile delegation led by Dr. Oliver Alawuba, Chairman of the Committee and Group Managing Director/Chief Executive Officer of United Bank for Africa Plc (UBA), visited Dutse, the state capital, to present relief materials to the state government.

The donated items, worth several million Naira, included essential food supplies such as rice and cooking oil, along with mattresses and beverages. Dr. Alawuba highlighted that the gesture aimed to alleviate the hardship faced by flood victims and support critical institutions, especially public hospitals, in their efforts to assist those affected.

“We stand in solidarity with the people and government of Jigawa State during this difficult time. This donation is our way of expressing empathy and supporting those who have lost loved ones, properties, and livelihoods,” Dr. Alawuba stated.

The delegation included notable banking leaders such as Mr. Roosevelt Ogbonna of Access Bank Plc, Dame (Dr.) Adaora Umeoji of Zenith Bank Plc, and Dr. (Mrs.) Nneka Onyeali-Ikpe of Fidelity Bank Plc, among others. Their collective presence underscored the banking sector’s commitment to corporate social responsibility and national development.

Governor Malam Umar A. Namadi expressed profound gratitude for the donation, describing the visit as a rare and commendable act of compassion. He assured the delegation that the relief materials would be judiciously distributed to the intended beneficiaries, emphasizing the importance of partnerships in rebuilding lives and communities.

The Committee of Banks also reiterated their commitment to supporting Nigerians during emergencies, drawing attention to previous interventions, including relief efforts during the 2011 and 2013 floods, the COVID-19 pandemic, and security initiatives like the Lagos State Security Trust Fund.

This humanitarian gesture reflects the collective resolve of Nigeria’s financial institutions to foster social and economic growth, making a meaningful impact in times of need.