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Nigerians groan as electricity bills takes 57% of minimum wage earners’ salaries

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When the Federal Government announced in September that it would start paying the proposed minimum wage of N70, 000, with a promise to pay civil servants the areas from July and August, not many Nigerians were excited about the news.

And the reasons were obvious, one of them being the recent hike in electricity bill.

A recent report quoting the FIJ calculation clearly indicated that average minimum wage earners spend at least 57.3 percent of their salaries on electricity bills if they use only seven appliances for a month.

The FIJ report noted that while the wage increase was a good development for workers, the cost of living has rendered the wage increase almost insignificant.

The report spotlights the cost of electricity alone and its impact on workers’ wages.

According to a National Income, Salaries and Wages Commission (NISWC) document, civil servants under the Consolidated Public Service Salary Structure would earn N930,000 per annum.

This means that a minimum wage earner would go home with a salary of about N77, 500.

The Nigerian Electricity Regulatory Commission (NERC) announced a 300 percent increase in electricity tariff for those in the B and A service category in April.

According to the Vice Chairman of the NERC, Musliu Oseni, the tariff hike meant that customers who formerly paid N66 per kilowatt per hour would now pay N225 for the same unit of electricity.

In the announcement, the NERC also said that only users in the band A service category, about 15 percent of the entire customer population, would be affected.

Surprisingly, a few months after the announcement, Nigerians were faced with flagrant and unsolicited transfer to Band A service category without prior notice.

Some people protested the move, while others took to social media to vent their anger and frustrations.

Decrying the move on his X handle, a financial expert, Joe Abah wrote: “I have confirmation that @aedcelectricity has now put me in Band A with no notice at all.

So, N100,000 electricity top-up now lasts just seven days. I have been paying.

Who has a gadget that can help me monitor whether I am getting a minimum of 20 hours of light a day, please?”

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16-Year-Old Osasere Okundaye Becomes Nigeria’s Youngest Chartered Accountant

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In a remarkable feat that has captured national attention, 16-year-old student Osasere Okundaye has emerged as Nigeria’s youngest chartered accountant, shattering the previous record set in 2022.

Okundaye successfully completed the professional examinations of the Institute of Chartered Accountants of Nigeria (ICAN), earning widespread acclaim as a shining example of youthful excellence and determination. Her achievement comes at an age when many peers are still navigating secondary education or early university studies.

Minister of Youth Development Ayodele Olawande congratulated the young prodigy, describing her accomplishment as an inspiring milestone. “I heartily congratulate Miss Osasere Okundaye on her outstanding achievement of becoming Nigeria’s youngest Chartered Accountant at just 16 years of age,” the minister said, highlighting her hard work and resilience as a symbol of the potential within Nigerian youth.

Okundaye’s success surpasses the record previously held by Jonathan Adewale (also known as Ojo Jonathan Adewale), who qualified as a chartered accountant at age 17 in 2022. Her qualification has sparked pride across the country and renewed focus on empowering young Nigerians in professional fields.

While full ICAN membership typically requires additional practical experience (usually three years), Okundaye’s completion of the rigorous exams marks a historic breakthrough. Details about her educational background and the journey to this achievement are still emerging, but her story is already motivating aspiring accountants and students nationwide.

This milestone underscores the growing narrative of exceptional young talent driving Nigeria forward in various sectors. Congratulations poured in from across social media and media outlets, celebrating Okundaye as a beacon of hope for the nation’s future.

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JUST IN: Vigilante Groups Rescue Kidnapped NECO Students in Borno State

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Local vigilante groups have successfully rescued several students of the National Examinations Council (NECO) who were abducted in Borno State, security sources confirmed on Monday.

The students were reportedly kidnapped while traveling or residing in the area for examination purposes. Details of the exact number rescued and the circumstances of the abduction remain limited, but eyewitness accounts indicate that vigilante fighters acting on intelligence engaged the kidnappers, leading to the release of the captives without major casualties reported among the students.

A community leader in the affected area praised the swift response of the vigilantes, stating that their deep knowledge of the local terrain played a crucial role in tracking the abductors. “These boys and girls were on their way to pursue their education. We thank God and our local defenders for bringing them back safely,” he said.

Borno State has faced persistent security challenges, including banditry and insurgent activities that have occasionally targeted schools and students. The rescue operation highlights the growing reliance on community-based security networks in complementing efforts by the Nigerian military and police in the region.

Authorities are yet to issue an official statement on the incident, but sources say efforts are ongoing to reunite the rescued students with their families and provide necessary medical and psychological support. Investigations into the kidnapping are also underway to apprehend those responsible.

This latest incident comes amid broader concerns over the safety of students in northern Nigeria during examination periods.

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EFCC Charges Former Port Harcourt, Warri Refinery MDs with Money Laundering

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Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), has filed separate money laundering charges against the immediate past Managing Directors of the Port Harcourt Refining Company (PHRC) and the Warri Refining and Petrochemical Company (WRPC).

The accused are Ahmed Adamu Dikko, former MD of the Port Harcourt Refinery, and Jimoh Olasunkanmi Yisawu, former MD of the Warri Refinery. The charges stem from the alleged diversion and laundering of funds earmarked for the rehabilitation of Nigeria’s state-owned refineries.

According to court documents and investigations by PREMIUM TIMES, the EFCC accused the former officials of abusing their positions by receiving and laundering large sums of money through third parties in connection with controversial turnaround maintenance contracts.

The probe forms part of a broader investigation into alleged fraud involving billions of dollars linked to the rehabilitation of the Port Harcourt, Warri, and Kaduna refineries. EFCC sources have indicated that the total amount under scrutiny runs into billions, with earlier recoveries reported at ₦38.66 billion alongside other properties.

The charges include multiple counts of money laundering, with Dikko and Yisawu allegedly involved in diverting public funds meant for critical refinery upgrades. This comes amid ongoing scrutiny of officials from the Nigerian National Petroleum Company Limited (NNPCL) and contractors involved in the projects.

The development is the latest in a series of actions by the EFCC targeting alleged corruption in Nigeria’s oil sector, where massive investments in refinery rehabilitation have yielded limited operational improvements despite significant expenditures.

As of the time of filing, court proceedings for the arraignment of the former MDs were underway. The EFCC has not yet issued an official statement on the matter.

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