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.
▪︎ 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.”
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Business
WEF could appoint Lagarde as its next chair, sources say
The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of the matter.
•European Central Bank President Christine Lagarde
The World Economic Forum could appoint Christine Lagarde as its next chair as soon as next month, four people close to the organisation told Reuters, meaning she would step down early as European Central Bank chief and trigger a wider reshuffle at the top of the ECB.Lagarde’s ECB term is scheduled to end in October 2027.
Leaving early would give European Union leaders a chance to pick a new ECB President before France’s spring presidential election, which opinion polls suggest the far-right could win, and could pave the way for a deal involving two other senior ECB roles.
The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of the matter.
No final decision has been taken yet, they said.
A spokesperson for the WEF said the forum could not confirm when the next full Board of Trustees meeting would take place, but that the aim was to hold one before the end of the year.
Business
Germany plans tax on sugary drinks
The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.
The German cabinet has approved draft legislation to tax sugary drinks in Europe’s biggest economy.
If passed by the German Bundestag, the tax will take effect on 1 July 2027.
The coalition aims to raise revenue for the federal budget while encouraging manufacturers to reduce sugar content and offer healthier products.
The levy is intended to ease pressure on the healthcare system, which faces costs of more than €2 billion every year linked to the high consumption of sugary drinks, which contributes to obesity, diabetes and tooth decay.
According to the federal government, Berlin is using the tax to implement “what associations from the fields of health, science, child protection, and consumer protection have long been demanding.”
The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.
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