Business
Fuel subsidy: NLC, Affiliates Disagrees over Suspension of Strike
The ongoing controversy over the removal of fuel subsidy appears to have caused a heavy crack within the fold of the labour unions in the country, especially the Nigeria Labour Congress, NLC.
Ohibaba.com had reported earlier that the union had earlier announced that it would commence an industrial action effective today, (Wednesday) June 7.
However, after a meeting with the Federal Government, the NLC leadership called off the strike.
The Trade Union Congress, TUC, was the first to toe that line after a similar meeting with the FG, with the NLC absent during the earlier dialogue.
The development has not gone down well with the state chapters of the unions who feel they were not carried along before their leaders reached the agreement with the Federal Government.
The Speaker of the House of Representatives, Femi Gbajabiamila, who led the government delegation, disclosed the resolutions reached with the labour unions after a meeting at the Aso Villa.
According to him, the Federal Government, the TUC and the NLC would establish a joint committee to review the proposal for any wage increase or award and establish a framework and timeline for implementation.
“The Federal Government, the TUC and the NLC would review the World Bank Financed Cash transfer scheme and propose the inclusion of low-income earners in the programme”, the communique reads in part.
A chairman of the NLC in one of the states said their members were not happy with the hasty withdrawal of the industrial action without the Federal Government shifting ground on the main issue.
He spoke after the NLC convened a National Executive Committee, NEC, meeting on Tuesday, to inform their members of the latest development.
The State chairman, who was not pleased with the outcome of the meeting said: “It was a one agenda meeting to brief us on their resolution with the federal government.
“You have seen the communique the national body signed; they have confirmed to us they were part of it. All those things stated therein were the issues they raised before the federal government.
“So we will set up a technical committee that will look at them and come up with a lasting solution, so to speak, that will help to assuage the sufferings of the people with regard to the removal of the fuel subsidy.
“There was nothing much. We were briefed and they informed us that they were part of those items in the communique; that it was their agreement.
“For me and some others also, I expected a situation where the new price regime would have been suspended. The issues that were raised should hold sway but they have to suspend the price regime while this discussion goes on.
“That would have made them to hasten the discussion and come up with a workable agreement. Thereafter, the new price regime can now come in.
“But since they have decided to put the horse before the cart, then let it be. That’s just the resolution as contained in that document. They are meeting on June 19th, it’s on that day that the technical committee will take off.
“Of course, it has to be as soon as possible. It’s not going to be an indefinite thing.”
Recall that the NLC had last Friday directed its members and affiliates to begin nationwide protest and withdrawal of services from Wednesday (today) if the federal government fails to compel the Nigerian National Petroleum Corporation Limited, NNPCL, to reverse the petrol pump price increase.
On Wednesday last week, the NNPCL announced a new fuel price template nationwide. The effect saw fuel pump prices increase from N197 per litre to over N500 nationwide.
The development followed President Bola Tinubu’s inaugural speech announcing the removal of fuel subsidy.
Tinubu had promised he would stop the controversial scheme if elected president.
He spoke before the February 25 election at a business luncheon with business owners titled: “Business Forward” in Lagos, where he hinted that, no matter how long people protest, it would not stop him from removing fuel subsidies.
He maintained that Nigeria would not continue to subsidise fuel consumption in neighbouring countries.
“How can we subsidise the fuel consumption of Cameroon, Niger, and the Benin Republic. No matter how long you protest, we are going to remove the subsidy,” he said.
Although former President Muhammadu Buhari’s government had announced the subsidy policy would end by June when the budget for the initiative would expire, Tinubu bears the brunt of its implementation.
Prior to the announcement of the suspension of the strike, the Federal Government had approached the National Industrial Court in Abuja seeking an interim order restraining the NLC and the TUC from going on strike as planned, pending the determination of the motion on notice.
Ohibaba.com had reported that the National Industrial Court granted the FG’s application and ordered the Labour unions not to strike.
The FG had submitted that the proposed strike could disrupt economic activities, the health sector and the educational sector.
They also claimed that the strike may gravely affect the larger society and the well-being of the nation at large.
Meanwhile, the TUC has demanded that the “minimum wage should be increased from the current N30,000 to N200,000 before the end of June 2023, with consequential adjustment on the cost of feeding allowance, like feeding, transport, and housing”.
While addressing journalists on Monday, the union’s President, Mr Festus Osifo, and General Secretary, Mr Nuhu Toro called for the immediate implementation of the demands, including a Tax holiday for government and private sector employees earning less than N200,000 or 500USD monthly.
TUC also asked that “A representative of state governors would be a party to any negotiation and must commit to implementing the new minimum wage.”
They also called for introducing PMS Allowance for workers that earn between N200,000 to N500,000 or 500USD to 1,200USD.
The NLC said the authorities should have listened to the poor masses before removing the fuel subsidy.
Prof Oguguo Egwu, the Ebonyi State chairman of the Congress, made the remark in an interview with the News Agency of Nigeria, NAN, on Monday in Abakaliki.
“The increase has led to the suffering of the masses. Imagine paying N550 per litre of fuel in Ebonyi here. Go back to the status quo and let us have room for negotiation. There is a need to listen to the poor.
“The federal government can do it without inflicting injury on citizens. Make sure that the people are not suffering. Have the interest of the masses at heart and not cause injury to them,” Egwu said.
On his part, the Enugu State chairman of the NLC, Comrade Barrister Fabian Nwigbo, said the national body of the NLC would be meeting by 2 pm on Tuesday (yesterday) to deliberate on the communique reached with the federal government.
Nwigbo lamented that the action being taken by the Federal Government, including its meeting with the NLC, is belated because people are already suffering.
He stated that the government should have put in place measures and palliatives to cushion the effect of the new policy.
”The national body has just invited us for a meeting at 2 pm today (Tuesday), and I think it is in line with that information on social media. So we, all of us in different States, have been discussing on our platform, waiting for that meeting to know whether that was what happened in that meeting, and then the way forward.
”But for now, we have not been properly briefed. I only got a message this morning inviting me to a virtual meeting by 2 pm. at the national office.
“So the practice is that since we had our emergency NEC last Friday, we were told not to do anything other than issues raised and agreed upon during that meeting, one may not comfortably discuss those items in that communique without hearing from the national.
”I cannot say exactly whether they (States) are carried along because I don’t have that privilege of that information. However, it is normal for state governments to wait and decide from agreements between labour or critical stakeholders and the federal government.
“So states will not come out now to say, remove fuel subsidy or don’t remove fuel subsidy, or we will do this or do that. They are waiting for that to be concluded at the national level. And after that decision, they will be given direction on what to do.
“I am aware that the presidency is saying that it has discussed with the Governors and that discussion will continue regarding what should be the palliatives that will help cushion the effect of this fuel subsidy removal.
“But to me, those things are belated. If you want to remove fuel subsidies, after removing them, you start talking about how to improve things for people; it is belated.
“Ordinarily, even with the communique that is coming now, issues ought to have been discussed and the communique in place before he removed the fuel subsidy.
”What I am saying in effect is that whatever they are doing now, even the meeting between the NLC and government representatives, for me, it’s belated; people are already suffering.
“And you know, in Nigeria, once the commodities prices have already stepped up, they can never come down, no matter what you decide. But there is nothing we can do; we will continue.
“If we succeed in our actions by his grace, the government may decide to put in our agreement certain things that may help people survive this harsh condition that the federal government has put everybody into.”
However, the Director-General of Michael Imoudu National Institute for Labour Studies, MINILS, Ilorin, Comrade Issa Aremu, hailed the ongoing dialogue between FG and the Labour union.
Comrade Aremu said the current policy debate is good for national development, adding that what is needed is to “work out win-win options” for the downstream petroleum sector in particular and Nigeria as a whole.
He expressed optimism that through the exchange of facts, negotiations and compromises, both the government and labour would find common ground for the inevitable reform of the downstream petroleum sector, which he said the sector unions, namely PENGASSAN and NUPENG, have been pushing for years.
“Neither policy reversal nor mass protest is an option, but genuine negotiation and social dialogue would make the deregulation policy a reality without compromising the welfare of the citizens with respect to welfare and securing jobs,” he said.
Comrade Aremu commended the initiative of President Bola Tinubu for meeting with labour leaders, which he described as “not only labour friendly but a leader that is accessible and open to engagement”.
He challenged labour and civil society to reciprocate the presidential gesture with creative options to protect public and private jobs.
Meanwhile, the NLC says it has rejected the ruling of the National Industrial Court, NIC, favouring the Federal Government against the interest of the masses and workers in the country.
Mr Joe Ajaero, NLC President said this in a communique jointly signed with Mr Emmanuel Ugboaja, General Secretary of the Congress at the end of an emergency National Executive Council, NEC, meeting on Tuesday in Abuja.
It said that the NEC meeting was called to discuss the outcome of the dialogue between the NLC and the Federal Government on the petroleum product price hike.
The NLC said the NEC in session resolved that there was a need to show the government that it was important to comply with laid down laws and court rulings.
“Especially as it concerns obedience to the rulings of the Courts and their brazen disregard to the 2023 Appropriation Act.
“To therefore support and accept the decision of the leadership of Congress to suspend the proposed strike action in compliance with the flawed rulings of the NIC.
“Also to allow negotiations to flow freely and enable final agreement during or after the 19th June, 2023, negotiation round with the federal government.
“To however register in strongest terms its disgust and disapproval with the ruling of the NIC for its continuous weaponization of the instrument of Exparte injunction in favour of the government.
“That it is against the interests of Nigerian workers in defiance of the position of the Supreme Court on the use of this instrument,” the communique read.
Congress further stated that all Affiliates and State Councils of Congress are hereby directed to suspend further action and mobilisation until the outcome of the final negotiations.
The communiqué commended all Affiliates and State Councils on their robust mobilisation towards a successful nationwide strike and to also remain vigilant in case there is a need to continue.
Business
Dangote Refinery Signs IPO Document Today
The proposed offering comprises 4.1 billion ordinary shares at N525 per share, with the potential to raise approximately N2.15 trillion if fully subscribed.
Dangote Petroleum Refinery is expected to sign its Initial Public Offer (IPO) Monday 7th September.
Ohibaba.com learned that the signing ceremony will take place at 11am, at Eko Hotels, Lagos.
The founder and Africa’s richest person, Aliko Dangote, is targeting a $50 billion valuation for the 650,000 barrels per day (bpd) refinery.
The company plans to sell up to a 10 per cent stake, potentially raising around $5 billion in one of Nigeria’s biggest capital market deals.
It was further learned that the Securities and Exchange Commission (SEC) weekend, approved the IPO of Dangote Petroleum Refinery and Petrochemicals FZE, with the company offering 4.1 billion ordinary shares at N525 each.
The offer could raise approximately N2.15 trillion if fully subscribed, according to a statement issued by the Dangote Group on Sunday.
The SEC’s approval cleared the way for the next stages of the offering.
According to the Commission, the proposed offering comprises 4.1 billion ordinary shares at N525 per share, with the potential to raise approximately N2.15 trillion if fully subscribed.
Business
Dangote Foundation Takes Over Aliko Dangote Skills Acquisition Centre Kano
Under the agreement, the Foundation will manage the multi-million naira facility for a number of years and operate programmes aimed at equipping young people with technical, digital and industrial skills.
The Aliko Dangote Foundation has taken over the management of the Aliko Dangote Skills Acquisition Centre in Kano state.
The Memorandum of Understanding was signed between the Foundation and the Kano State Government, on Friday.
Under the agreement, the Foundation will manage the multi-million naira facility for a number of years and operate programmes aimed at equipping young people with technical, digital and industrial skills.
Chairman of the Manufacturers Association of Nigeria (MAN), Kano-Jigawa Branch, Muhammad Bello Isyaku Umar, described the intervention as “far-reaching and impactful,” saying skills acquisition remained one of the most effective ways of addressing youth unemployment in Nigeria..
“Programmes such as the Aliko Dangote Skill Acquisition Centre can equip young people with practical skills that enable them to become entrepreneurs, artisans or employees. The emphasis should increasingly be on modern technical, digital and industrial skills,” Umar said.
He described Kano as the economic and commercial hub of northern Nigeria and said the Foundation’s interventions across the region had extended to several sectors.
Business
Okin Biscuits Set For Comeback After 17 Years, Targets Revival Of Jobs, Local Manufacturing
Founded in the 1980s by the late Chief Emmanuel Olatunji Adesoye, an illustrious son of Offa, Okin Biscuits grew into a household name with products including Okin Coasters, Shortcake and Okin Cabin Biscuits.
By Ochefa
After 17 years off the shelves, Okin Biscuits, one of Nigeria’s once-popular indigenous biscuit brands, is set to return to production as efforts intensify to revive the Ijagbo, Kwara State-based factory.
The planned comeback marks a significant attempt to restore one of the country’s old manufacturing brands while potentially reopening a major source of employment and economic activity in the community.
Founded in the 1980s by the late Chief Emmanuel Olatunji Adesoye, an illustrious son of Offa, Okin Biscuits grew into a household name with products including Okin Coasters, Shortcake and Okin Cabin Biscuits.
At its peak, the company provided direct and indirect employment to more than 2,000 people before production was eventually halted in 2009.
The shutdown reflected some of the structural problems that have continued to undermine Nigeria’s manufacturing sector, including harsh operating conditions, intense competition, inadequate infrastructure, vandalism and the theft of critical production equipment.
With the factory no longer producing, its products gradually disappeared from retail outlets and homes in Kwara, Lagos and other parts of the country.
Factory Undergoing Major Rehabilitation
However, the industrial facility is now showing signs of renewed activity.
A visit to the factory in Ijagbo showed that extensive rehabilitation work is underway across the complex.
The main factory building, which houses the production machinery, as well as the administrative block and other facilities, are undergoing comprehensive renovation.
The premises have already assumed a significantly different appearance, suggesting that the revival project has moved beyond plans and into physical reconstruction.
The management recently announced through its official Facebook page that production machinery was being test-run.
It said biscuits rolled off one of the rehabilitated production lines on August 25, 2026, marking the first production from the factory in 17 years.
The development is significant not merely as the return of a nostalgic consumer brand, but as an example of how the rehabilitation of abandoned industrial assets could contribute to renewed domestic production and employment.
For Nigeria, where manufacturers continue to contend with high energy and logistics costs, infrastructure constraints, foreign exchange pressures and strong competition from imported products, the reopening of an existing manufacturing facility could offer a potentially faster route to industrial capacity expansion than building an entirely new factory.
Community Backs Revival
…biscuits rolled off one of the rehabilitated production lines on August 25, 2026, marking the first production from the factory in 17 years.
The planned resuscitation has also attracted strong support from the Offa community.
The Aare Bobaselu of Offa, Chief Abdulatif Adekunle Ajeigbe, described the development as “heartwarming,” linking it to the broader Offa Mega City project championed by the Olora of Offa, Oba Muftau Mohammed Gbadamisi, Esuwoye II.
According to him, members of the community had made several efforts to revive the moribund factory, including exploring the possibility of group financing.
“We did our best to see that the factory came back to life, but it was the children of the late Asiwaju of Offa and the founder of the factory, Chief Emmanuel Olatunji Adesoye, who insisted on carrying on their father’s legacy through the factory,” he said.
Ajeigbe commended the founder’s children for their determination to preserve the family’s industrial legacy and bring the factory back into operation.
More Than A Brand Revival
The return of Okin Biscuits also highlights the wider economic value embedded in Nigeria’s abandoned industrial assets.
The company’s earlier success created employment not only within the factory but across its supply and distribution networks, including raw-material suppliers, transporters, distributors, retailers and other service providers.
A successful reopening could therefore have an economic impact extending beyond the factory gates, particularly if production eventually returns to significant capacity.
The bigger test, however, will be whether the revived company can operate sustainably in an increasingly competitive Nigerian consumer market.
The new investors will have to contend with production costs, energy supply, distribution challenges, consumer purchasing power and competition from both established domestic manufacturers and imported brands.
For Okin, the challenge is therefore not simply to restart the machines, but to build a commercially viable manufacturing operation capable of sustaining production, protecting jobs and reclaiming market share.
If successful, the return of Okin Biscuits could become more than a nostalgic homecoming for Nigerian consumers.
It could provide a practical demonstration that some of the country’s dormant industrial assets can be rehabilitated, modernised and returned to productive use.
After 17 years of silence, the sound of Okin’s production lines running again may therefore signal the beginning of a new chapter for one of Nigeria’s forgotten manufacturing brands.
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