Connect with us

Business

NLC threatens to shut down telecom services nationwide on February 4 Over 50% tariffs hike

The rally will serve as a warning on the dangers of imposing such an unfair increase on a struggling population earning a minimum wage of only N70,000.

Published

on

▪︎ NLC President, Joe Ajaero

The Nigeria Labour Congress (NLC) warns that unless the 50 percent telecom tariff hike recently approved by the Federal Government, is reviewed downward, it will embark on a nationwide mass rally on February 4 .

The NLC therefore urges the Ministry of Digital Economy and Innovation and the Nigeria Communication Commission (NCC), to engage in meaningful dialogue with critical stakeholders to review the proposed tariff adjustment.

Mr Joe Ajaero, NLC President, said that should this not be heeded, the Nigeria Labour Congress will escalate its actions, including the possibility of a nationwide boycott of telecommunication services.

“Others are further mass actions that may involve nationwide withdrawal of our service to resist policies that exacerbate poverty and inequality,” he said.

In a communique issued at the end of the Congress’s National Administrative Council (NAC) meeting held on Wednesday in Abuja, Ajaero said that the NAC in session totally rejected the 50 percent telecom tariff hike as it was considered too harsh for the citizens.

 “To express our collective opposition to this arbitrary tariff hike, the NLC will embark on a nationwide mass rally on Tuesday, February 4, 2025.

“The rally will serve as a warning on the dangers of imposing such an unfair increase on a struggling population earning a minimum wage of only N70,000.

“A population that has suffered outrageous hike in the price of petrol, high cost of food, hike in electricity tariff, and general rising inflation.

All NLC affiliates and state councils are directed to begin full mobilisation in preparation for the February 4, 2025, nationwide protest rally.”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Uber, Bolt, inDrive workers to down tools in Lagos on May 1

Published

on

The Amalgamated Union of App-Based Transporters of Nigeria (AUATON), Lagos State Chapter, is planning a 24-hour protest on May Day over alleged anti-labour practices by app-based companies including Uber, Bolt.

In a statement signed by AUATON Public Relations Officer Steven Iwindoye on Tuesday, the union said members would be staying off the apps, refusing to work, and demanding that their rights be respected.

According to Iwindoye, the union is protesting against alleged poor wages, unjust deactivations, insecurity and unsafe working conditions.

Others are excessive commissions taken by app companies, lack of proper rider profiles, mandatory facial recognition systems and harmful and exploitative work policies.

He alleged that app-based companies like Uber, Bolt, Lagride, inDrive, and Rida had ignored the union’s concerns and disrespected its rights.

Continue Reading

Business

BACITI Advocates Market Shift for Nigerian Exporters

Nigerian agricultural and manufacturing SMEs that have carved out a market in the U.S.now face a price disadvantage.

Published

on

By

The Bashir Adeniyi Centre for International Trade and Investment (BACITI) says that Nigerian fertilizers manufacturers and industrial goods had better consider exporting regionally under the AfCFTA .

BACITI also urges the Nigerian Export Promotion Council (NEPC) and Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to help exporters cope with the tariff’s cost through rebates, tax breaks, or low-interest loans to affected exporters.

BACITI , in its Economic Insight April 2025, noted that the U.S. tariff will hit Nigeria’s non-oil export sector hardest.

Said the report: ” Many African countries rely on preferential access to the U.S.market under AGOA (African Growth and Opportunity Act), which granted duty-free treatment to thousands of African exports.African manufacturers who invested with AGOA preferences in mind are now at risk.

Textiles, leather, and agro-processing exports from countries like Kenya,Ethiopia, Ghana, Lesotho, and Nigeria may now face 10–14%tariffs, rendering the uncompetitive.

This could lead to job losses in export zones and industrial park.

Nigerian agricultural and manufacturing SMEs that have carved out a market in the U.S.now face a price disadvantage.

Niche products like Nigerian cocoa butter, dried fruits, or textiles and apparels which entered the U.S. duty-free will become costlier and uncompetitive.

Fertilizer makes up 2–3% of Nigeria’s exports to the U.S. A 10-14% tariff on fertilizer could lead U.S. buyers to seek cheaper suppliers, thus Nigerian producers might lose that market or have to accept lower net prices.

While crude oil is less likely to be directly impacted by the new tariffs, the broader uncertainty stemming from the ongoing trade war is likely to exert downward pressure on global oil prices, thereby affecting Nigeria’s export revenues and fiscal stability.

Indirect macro impact via oil prices: fallin oil prices due to slow global trade and economic uncertainty.

This would further reduce Nigeria’s export earnings and government revenue. A $10 drop in oil price, for example, costs Nigeria billions in export earnings.

Fiscal and FX pressures: A decline inNigeria’s export earnings would reduce dollar inflows, placing pressure on the naira.

In times of global uncertainty or trade wars, investors often retreat from riskier markets. As a result, Nigeria could face capital outflows, further currency depreciation, and rising inflationary pressure.”

Continue Reading

Business

CPPE Spots Flaws in RMRDC Raw Materials Bill, Calling for its Withdrawal

Dr Muda Yusuf, the Director/ CEO of CPPE, said: ” The RMRDC involvement in trade policy matters is an aberration.  Besides, the bill has a very weak value proposition.

Published

on

By

The Centre for the Promotion of Private Enterprise (CPPE) has critiqued the Raw Materials Research and Development Council [RMRDC] Bill in the National Assembly, calling for its withdrawal.

The RMRDC Bill proposed by Senator Peter Onyekachi Nwaebonyi, which aims to ensure local processing of at least 30 percent of Nigeria’s raw materials before exportation, has received overwhelming support from the Manufacturers Association of Nigeria, and other stakeholders during the public hearing organized by the Senate Committee on Science and Technology, held on Wednesday, March 5, 2025.

However, Dr Muda Yusuf, the Director/ CEO of CPPE, said: ” The RMRDC involvement in trade policy matters is an aberration.  Besides, the bill has a very weak value proposition.

The CPPE advises the RMRDC to withdraw the bill.

Dr Yusuf urged the National Assembly to encourage the RMRDC to focus on its core mandate of raw materials research to offer the most cost-effective raw materials option for manufacturers.

Dr Yusuf explained that the RMRDC Bill currently before the National Assembly has the prospect of creating significant adverse and unintended consequences for Nigerian exporters and manufacturers.

What study has been done to determine the local processing capacity for each category of primary products currently being exported?

What metrics would be used to determine raw materials that manufacturers would be allowed to import into the country?

What is the effective time frame for implementation?Is it within the mandate of the RMRDC to promote the ban on exports or imports?

The position of the CPPE is that this bill raises more questions than answers.

It is a very simplistic proposition that has not taken into account the critical challenges of manufacturing, processing,, and value addition in the Nigerian economy. “

Continue Reading

Trending