Business
October 31 Deadline : Another ASUU strike looms as Federal Government refuses to fulfill promise
Another round of strike action is looming in the nation’s Universities as academic staff counts down to the deadline for the implementation of agreements reached with the government which led to the conditional suspension of its indefinite strike action in September.
The government had signed an agreement with the Academic Staff Union of Universities as a result of the strike action embarked upon by the union to press the implementation of the memorandum of understanding entered into between both parties in 2013 as well as the 2009 agreement.
A timeline of October 2017 was reached between the government and the unions for the implementation of some components of the agreement, especially the payment of shortfall in salaries and Earned Academic Allowances.
But some lecturers informed The Nation that barely one week to the end of the October timeline, the government has not implemented any aspect of the agreement, even when they claimed during negotiation that implementation has commenced.
While suspending their strike action in September, ASUU President, Prof. Biodun Ogunyemi had said that the union was suspending its action conditionally to pave way for government to commence implementation of the agreement, stressing that the union will not hesitate to resume the action if the government fail to meet its own aspect of the agreement.
One lecturer who would not want his name in print told The Nation that “the government has not done anything. We have not heard from them and it is just one week to the end of the October deadline. I can assure you that we are warming up and there is the possibility that from November 1, we will resume the suspended action.
“They (government) told our leaders during negotiations that they have prepared everything for the implementation. They were even brandishing some papers, especially on the earned Academic Allowance. But we have not seen anything nor heard from them.
“They were also supposed to carry our verification because of those who employed workers without permission so that the issue of shortfall in salary can be addressed. Many of us have been verified, but nothing has happened. We have not been paid. They should not take us die a ride because when we resume the suspension action not are not going to listen to any discussion.
However, ASUU President, Prof. Biodun Ogunyemi, however, declined to say whether or not the union will call out its members at the end of October if they are not satisfied with the level of implementation of the agreement.
Prof. Ogunyemi told The Nation over the telephone that members of the union will determine the next line of action based on the level of implementation of the agreement reached between the government and the unions.
He said both parties were making progress in the implementation of the memorandum of understating signed between them, adding that the union is still engaging the government and expressed the hope that the government will keep to their promise.
He said: “We are engaging them and we are making some few progress and we hope they will keep their promise. Otherwise, our members are ready to activate their action.
We are still in October, but we are on our guard.
We believe they will follow the process through and implement it fully. That is why we still engage them and we are talking. We are working with them and we hope they will continue to cooperate.
Asked whether they will embark on any Industrial action at the end of October, he said “I cannot say whether there will be any action at the end of October or not. It is what our members say that we shall do. I hope I am very clear? Our members shall determine what we shall do at the end of the deadline based on the level, of implementation”.
The government had promised to meet the demand of the unions with a promise to release of about N220 billion to the universities not later than October 2017 to fund the revitalisation of federal universities in the country and the payment of the shortfall in their salaries as well as payment of earned allowances which has accumulated.
Minister of Labour and Employment, Senator Chris Ngige who promised that his Ministry will monitor the implementation the agreement reached had told newsmen after the conciliatory meeting in September that “We have concluded negotiations, the government and the leadership of Academic Staff Union of Universities, ASUU. The ASUU negotiating team and the government discuss salient issues and most of those issues are well-known to the media but for the purposes of clarity, I can go around the grounds again.
“There’s one funding for revitalization of public universities and the issue of Earn Academic Allowances, the issue of University Staff Schools on which that there is a court judgement, the issue of National Universities Pension Management Company, and the issue of salary shortfalls for lecturers and staff of universities.
There is the issue of TSA exemption and the problems in the state universities. All are the issues that ASUU felt that government should address.
“Most of these issues stemmed from the 2009 agreement that government had ASUU and also from the 2013 Memorandum of Understanding, that the government had with ASUU. Government is a continuum, most of those issues were not issues that cropped up from the Buhari administration, we inherited them.
“But be that as it may like I said, the government is a continuum. So we are to really address those issues, we inherited them but there are issues concerning the welfare of our people. So, on the issue of funding for the revitalization of public universities, this negotiating team discussed in detail and extensively on that.
“This is the fund that would be needed for the revitalization of public universities in terms of their working tools and other things needed for the effective performance of their duties.
“There was an agreement from the MoU of 2009 and that of 2013, for government to be making some quarterly payments into this fund. And from 2014 to date, it has not been possible for the government to pay or they didn’t pay. But this government has been negotiating with ASUU since last year. Today, there is a government proposal which we all agreed id workable.
“But ASUU has to take back this our proposal to their organs, so we decided that there’s an agreement for government to make some funds available in September and October to show that they are not repudiating their agreement and to also show sign of good faith.
“However, because of the inability of the government to pay the required amount which is at N220 billion, a seven-man committee was proposed and ASUU leadership is expected to send in three nominees into this committee. It’s a technical committee so to say, a working committee and they would send in the three-man nomination, the Minister of Education will appoint three persons to represent the federal government and the chairman, making four to bring the number to seven. ASUU will also send in their proposal for testing terms of reference for the committee to the minister.
“We expect that that will be done today since today is already a Friday. This committee is expected to work out the ways and means for the government and ASUU to actualize the aspirations as per the 2013 MoU.
“This is without prejudice to the Babalakin committee on the re-negotiation of the 2009 MoU between the Federal Government and ASUU.
“On the issue of Earn Academic Allowances, we have listened and payment has started in that direction.Same with staff schools.
Government is though not appealing, we have agreed that the decision should be conveyed to the various universities.
“The Issue of NUPENCO was addressed and ways have been fashioned out for the registration of that company. Salary shortfalls for lecturers and university staff were also addressed and the government has shown their commitment and evidence that payments have started in order to liquidate the outstanding allowances.
“The issue of TSA exemption was also discussed and an agreement or proposal was muted by which the Central Bank would a special account for that in order for endowment funds and research grants will be exempted.
“State universities which have been the concern for ASUU and everybody who has been looking for quality education in the country was also discussed and the Minister of Education was mandated to take the memo to the council of state and the Federal Executive Council.
“Based on these discussions, ASUU leadership will consult with its organs and revert back to government within one week. They will consult with their organs with a view to calling off the strike.And we expect them that within one week, they will get back to government. These are the highlights of the meeting and I can tell you that the meeting took place in the very cordial atmosphere.”
FirstBank Makes Home Ownership Possible for Nigerians with Single-Digit Interest Rate Loan
For millions of Nigerians, homeownership has long felt like an ambition deferred. Squeezed by rising property prices, persistent double-digit inflation and high commercial lending rates, the dream of owning a home has remained just that – a dream.
But that narrative is quietly changing. Thanks to FirstBank.
The N1 Trillion Intervention Reshaping Access
In partnership with the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), FirstBank has unveiled a mortgage opportunity that could redefine access to housing finance in Nigeria.
Backed by the Federal Government’s N1trillion mortgage fund, the initiative is designed to empower Nigerians with affordable, long-term credit to own their homes.
9.75% Interest Rate in a 30% Lending Environment
MREIF is priced at 9.75% per annum, dramatically lower than prevailing commercial loan rates. Eligible Nigerians can access up to N100 million and repay within 20 years. This translates into significantly more manageable monthly repayments and greater long-term financial stability.
Built for Salary Earners, Entrepreneurs and the Diaspora
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Taking the First Step
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Alpha Morgan Bank Deepens Presence in Abuja with New Branch in Utako
Marking another milestone in its expansion drive, Alpha Morgan Bank has opened a new branch in Utako, Abuja, reinforcing its strategy of building closer institutional ties within key business communities and bringing its financial expertise closer to individuals, and enterprises driving the city’s growth.
The new branch, located at Plot 1121 Obafemi Awolowo Way, Utako, Abuja is strategically positioned to serve individuals, entrepreneurs, and corporate clients within Utako and surrounding districts.
The expansion follows the Bank’s recently concluded Economic Review Webinar held in February 2026, as the bank continues to position as a thought-leader in the financial services industry.
Speaking on the opening, Ade Buraimo, Managing Director of Alpha Morgan Bank, said the move underscores the Bank’s commitment to accessibility and service excellence.
“Proximity matters in banking. As communities grow and commercial activity expands, financial institutions also evolve to meet customers where they are. The Utako Branch allows us to deliver our services to people in that community efficiently while maintaining the high standards our customers expect,”
The Utako location will provide a full suite of retail and corporate banking services, including account opening, deposits, transfers, business banking solutions, and financial advisory support.
Customers and members of the public are invited to visit the new Utako Branch to experience the Bank’s approach to satisfying banking.
Dangote Refinery Prioritises Domestic Supply Amid Global Energy Turbulence
By George Omagbemi Sylvester | Published by SaharaWeeklyNG
“Nigeria insulated from international fuel shocks as Dangote Petroleum commits to uninterrupted local delivery.”
Dangote Petroleum Refinery and Petrochemicals has reaffirmed its commitment to prioritising the domestic market, pledging to shield Nigerians from the ripple effects of ongoing global energy disruptions. The assurance, delivered in Lagos on 5 March 2026, comes as international refinery operations experience shutdowns or reduced output due to escalating Middle East geopolitical tensions, which have sent crude oil and petroleum product prices soaring worldwide.
“Our mandate remains clear: Nigeria’s local market takes precedence. In times of global supply shocks, we will continue to ensure that domestic availability of petrol, diesel, and kerosene is uninterrupted,” said Mr. Folorunsho Alakija, spokesperson for Dangote Petroleum Refinery.
The refinery’s declaration arrives amid mounting concerns over fuel scarcity, triggered by export restrictions imposed by major international producers, including China, and shipping delays that have further tightened global petroleum supply chains. Industry analysts have hailed the domestic focus as a critical buffer against volatility that could otherwise push Nigeria into deeper energy insecurity.
Domestic Shield Against Global Disruption
Dangote Refinery, Africa’s largest oil processing facility, has leveraged its multi-million-barrel refining capacity to mitigate Nigeria’s historical dependence on imported petroleum products. The company emphasised that prioritising local supply provides a strategic advantage in insulating the nation from international market shocks.
“Our refinery’s scale allows Nigeria to withstand short-term external disruptions. We have the infrastructure and capacity to meet local demand even when global supply chains falter,” explained Mr. Chijioke Okonkwo, Operations Director at Dangote Refinery.
The proactive approach is particularly significant as several international refineries have either reduced throughput or temporarily halted operations, causing a global scarcity of refined products. Experts warn that without domestic cushioning, fuel prices in Nigeria could have surged sharply, exacerbating inflationary pressures in a fragile economy.
Managing Costs While Prioritising Supply
In response to rising procurement costs for crude oil amid the international crisis, Dangote Refinery introduced a modest ₦100 per litre increase in the ex-depot price of Premium Motor Spirit (PMS), absorbing roughly 20 percent of the cost escalation to lessen the impact on consumers.
“We are balancing operational sustainability with affordability. While global prices have risen sharply, we have chosen to absorb a significant portion to protect Nigerian households and businesses,” noted Mr. Emmanuel Adeyemi, Chief Finance Officer.
This pricing strategy underscores the refinery’s dual focus: ensuring uninterrupted supply while cushioning the public from abrupt spikes that could destabilize economic activity. Industry observers have lauded the approach as pragmatic, considering the volatility in international oil markets.
Strategic Distribution Initiatives
Beyond refining, Dangote Petroleum has initiated Compressed Natural Gas (CNG) powered trucks to enhance nationwide distribution efficiency. The initiative seeks to reduce logistics costs and carbon emissions while ensuring a more reliable delivery network to petrol stations across urban and rural areas.
“Logistics is a critical part of the energy supply chain. By deploying CNG-powered trucks, we reduce dependency on expensive diesel, lower delivery costs, and improve supply reliability across the country,” explained Ms. Funke Adedoyin, Head of Logistics Operations.
This strategic move reflects a broader commitment to modernising Nigeria’s petroleum distribution infrastructure, reducing bottlenecks that have historically contributed to scarcity at retail outlets.
Implications for National Energy Security
Nigeria has historically struggled with fuel imports to meet domestic demand, making the country vulnerable to international market fluctuations. Dangote Refinery’s prioritisation of local supply mitigates this vulnerability by leveraging home-grown refining capacity, which allows for timely access to petroleum products and less reliance on foreign shipments.
“With Dangote Refinery leading local prioritisation, Nigeria is less exposed to global fuel shocks. The country is moving towards self-reliance in petroleum product supply,” commented Dr. Halima Suleiman, energy sector analyst.
Experts note that sustained operations at the refinery not only enhance energy security but also preserve foreign exchange, reduce import bills, and stabilise domestic market prices.
Corporate Social Responsibility and Market Stability
The refinery’s commitment is part of a broader corporate responsibility framework. Dangote Petroleum continues to engage with government agencies and regulatory bodies, ensuring that domestic supply is coordinated with Nigeria’s Petroleum Product Pricing and Regulatory Agency (PPPRA) to prevent panic buying and market distortions.
“We are in constant consultation with the government to ensure that our supply strategies align with national economic priorities,” said Mr. Alakija.
Such collaboration helps avert artificial shortages, stabilises pump prices, and maintains confidence in the domestic fuel market. Analysts argue that this approach exemplifies how private sector capabilities can complement governmental policies to enhance national resilience.
Navigating Global Uncertainties
The refinery operates in a complex global environment, where geopolitical crises, shipping constraints, and crude oil volatility can trigger disruptions. Dangote Petroleum’s domestic-first approach positions Nigeria to weather such crises more effectively.
“Global uncertainties are unavoidable, but our infrastructure and strategy ensure that Nigerians remain insulated from immediate shocks,” said Mr. Okonkwo.
This emphasis on resilience aligns with global best practices, where national refining capacity is leveraged to protect local markets from international supply disruptions.
Stakeholder Reactions
The government, civil society, and industry stakeholders have welcomed Dangote Petroleum’s strategy. Officials from the Federal Ministry of Petroleum Resources noted that prioritising local supply aligns with Nigeria’s energy security policies and reduces the burden of foreign exchange expenditures on crude imports.
“Dangote Refinery is demonstrating leadership. Its domestic prioritisation ensures that the Nigerian economy remains insulated during turbulent global markets,” said Dr. Tunji Olumide, Special Adviser on Energy.
Consumers have also expressed cautious optimism. Retail operators and commuters reported steadier fuel availability in Lagos and other cities, though concerns remain about sustained pricing and distribution efficiency.
The Road Ahead
While Dangote Refinery’s strategy provides immediate relief, experts argue that long-term stability requires further investments in alternative energy, diversified refining infrastructure, and strategic reserves. This ensures that Nigeria can withstand global shocks without relying excessively on imports or temporary supply adjustments.
“Short-term measures like prioritising local supply are critical, but long-term energy security demands diversification, renewables adoption, and consistent policy implementation,” said Dr. Suleiman.
The refinery is exploring additional initiatives, including expanding storage capacity, upgrading pipeline networks, and adopting technology-driven monitoring systems to ensure supply continuity across the country.
Final Take
By prioritising domestic fuel supply amid global market turbulence, Dangote Petroleum Refinery and Petrochemicals has demonstrated its role as a stabilising force in Nigeria’s energy sector. Through strategic logistics, modest pricing adjustments, and engagement with government regulators, the refinery is insulating the nation from international shocks while maintaining operational sustainability.
“Our responsibility extends beyond profitability; it’s about ensuring Nigerians have reliable access to essential fuel. We take that mandate seriously,” concluded Mr. Adeyemi.
The refinery’s actions offer a blueprint for how large-scale domestic capacity can protect national economies in times of global energy instability, underscoring the critical intersection of private sector resilience, public policy, and national energy security.
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