ASUP Issues 15-Day Strike Ultimatum to Federal Government Over Unmet Agreements

The Academic Staff Union of Polytechnics (ASUP) has threatened to initiate a nationwide strike in response to the federal government’s failure to meet long-standing agreements aimed at improving the working conditions of its members. During a press conference in Kaduna, ASUP set a 15-day ultimatum, beginning on October 7, 2024, for the government to address the union’s demands.

ASUP’s grievances include unresolved agreements dating back to 2010, particularly relating to better working conditions, skill acquisition environments, and promotion arrears. The union has warned of protests and peaceful actions if the issues remain unaddressed.

JAMB Eases Age Restriction for 2024/2025 Admissions

The Joint Admissions and Matriculation Board (JAMB) has announced a revision to its age requirement for the 2024/2025 academic session, allowing institutions to admit candidates who will turn 16 by August 31, 2025.

JAMB Spokesman Fabian Benjamin clarified in a statement that while the standard minimum admission age remains 16 years, institutions may now admit students who will meet the age requirement by the specified date, provided they fulfill all other admission criteria.

This decision ensures broader opportunities for younger candidates, preventing them from being excluded based solely on age during the admission process.

Mr. Ibu’s Wife Pays Emotional Tribute on His Posthumous Birthday

Stella Maris, wife of the late Nollywood star John Okafor, popularly known as Mr. Ibu, has honored her husband on what would have been his 63rd birthday. Mr. Ibu passed away on March 2, 2024, at the age of 62 after a long illness.

In an emotional Instagram post, Stella shared family photos and reflected on how much Mr. Ibu loved celebrating his birthdays. She expressed the deep sense of loss the family feels, saying, “We miss him so much. May his soul continue to rest in eternal peace.”

Meanwhile, Jasmine Okekeagwu, Mr. Ibu’s alleged adopted daughter, stated in an interview that her help to the late actor’s family was more of a charitable effort, clarifying that despite past conflicts, she has not severed ties with the family. Jasmine, who has a background in charity work, expressed her focus on maintaining peace and avoiding misunderstandings.

FG Affirms End of Fuel and FX Subsidies, No Plans for Reinstatement

The federal government of Nigeria has officially declared that fuel and foreign exchange subsidies are permanently discontinued and will not be reinstated. This announcement was made by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, during the presentation of the Nigeria Development Update by the World Bank in Abuja on October 17.

Edun explained that the removal of these subsidies, which had drained the economy for decades and cost over N10 trillion (5% of Nigeria’s GDP), was essential for the country’s economic sustainability. He praised President Bola Tinubu’s administration for ending the 40-year subsidy regime, despite the challenges, emphasizing that the move would yield long-term economic benefits.

Obasanjo Hints at Future Revelations, Says “There Is Much to Say, But Not Yet Time”

Former Nigerian President, Chief Olusegun Obasanjo, has hinted at significant matters he wishes to address but stated that now is not the right time. He made this remark during the 67th birthday celebration of renowned lawyer Mike Ozekhome (SAN), where Obasanjo served as the chairman of the event.

While praising Ozekhome as a courageous advocate for positive change, Obasanjo shared the stage with ex-President Goodluck Jonathan, whom he introduced as co-chairman. Jonathan, while speaking, acknowledged Obasanjo’s likely reluctance to comment on certain judicial issues, to which Obasanjo cryptically responded, “There is much to say, but it is not yet time for it.”

Atiku Urges Nigerian Government to Shift Fuel Transportation to Rail After Jigawa Tragedy

Following the tragic petrol tanker explosion in Majiya town, Jigawa State, which claimed over 100 lives, Atiku Abubakar, the 2023 presidential candidate for the Peoples Democratic Party (PDP), has called on the Nigerian government to consider transporting fuel via rail.

Expressing his sorrow on social media platform X, Atiku described the incident as one of many preventable tragedies involving petrol tanker explosions in Nigeria. He emphasized the need to explore safer alternatives, such as railways, for fuel transportation across the country.

In addition to urging a shift to rail, Atiku recommended enhanced safety measures, including driver training for handling flammable materials and a review of protocols for transporting petroleum and other hazardous products.

Atiku also extended his condolences to the victims and the government of Jigawa State, calling for all necessary resources to be mobilized for rescue operations and the treatment of the injured.

Oil Tycoon Sues EFCC for ₦5 Billion Over Unlawful Declaration as Wanted

Henry Akinduro, CEO of Global Signature Hotel and Total Grace Group Limited, has filed a ₦5 billion lawsuit against the Economic and Financial Crimes Commission (EFCC) for allegedly violating his rights by declaring him wanted without due process.

The EFCC recently listed Akinduro as wanted following fraud accusations from Femi Olushakin. Akinduro’s legal team, led by Senior Advocate of Nigeria (SAN) Olalekan Ojo, asserts that the matter is a contractual dispute, not criminal fraud, and is already subject to an ongoing civil case (Suit No: I/875/2024).

Akinduro maintains his innocence, accusing the EFCC of escalating a civil issue and damaging his reputation. His lawyers argue that the fraud claims are baseless and a misuse of state resources. Akinduro has called for a transparent legal process, emphasizing his right to be presumed innocent until proven guilty.

Reps Warn of Possible Unrest Amid Deadlock in FG and Labour Talks on Fuel Price Hike

The House of Representatives has raised concerns over the recent fuel price hikes, warning that they could lead to social unrest. This warning came as talks between the Federal Government and labor unions reached a deadlock over the sudden increase in petrol prices.

NNPC retail outlets recently raised fuel prices to ₦1,030 per litre in Abuja, and ₦998 in Lagos, marking the second price hike in a month. This increase has worsened the cost of living, with transportation and food prices soaring.

The House urged the government to immediately reverse the price hike, emphasizing the economic hardship faced by Nigerians. Minority Leader Kingsley Chinda, along with 100 other lawmakers, highlighted the burden on households, blaming the subsidy removal, volatile global oil prices, and the naira’s depreciation.

Dollar to Naira Exchange Rate: Black Market Rates for 17th October 2024

The exchange rate between the U.S. dollar and the Nigerian naira continues to fluctuate in the parallel market. As of Wednesday, 16th October 2024, the rate for a dollar in the Lagos black market stands at ₦1,695 for buying and ₦1,705 for selling, according to Bureau De Change (BDC) operators.

Black Market Dollar to Naira Exchange Rates:

  • Buying Rate: ₦1,695
  • Selling Rate: ₦1,705

CBN Official Dollar to Naira Exchange Rates:

  • Buying Rate: ₦1,654
  • Selling Rate: ₦1,655

These rates may vary slightly depending on location and demand. It’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the black market, advising individuals to approach banks for Forex transactions.

Additionally, MTN and other business leaders have called on the Federal Government to allow for price increases in the telecommunications sector, citing the need for tariff adjustments similar to the changes seen in the petroleum and electricity sectors.

Minister of Power Calls for Decentralized Grids to Prevent National Grid Collapses

The Minister of Power, Adebayo Adelabu, has highlighted the need for regional and state-specific power grids to prevent frequent national grid collapses in Nigeria. Speaking at the unveiling of Hexing Livoltek, an electricity meter manufacturing company in Lagos on Wednesday, Adelabu explained that the country’s current reliance on a single national grid leaves the entire nation vulnerable to outages.

He stressed that decentralizing the power sector, as enabled by the 2023 Electricity Act, would allow subnational governments to participate in electricity generation, transmission, and distribution, ensuring that grid collapses are limited to specific regions rather than affecting the entire country.

Adelabu acknowledged that grid collapses are almost inevitable given the poor state of Nigeria’s power infrastructure. He emphasized the need for significant investment to upgrade outdated equipment, noting that some transformers in use are over 50 years old.

Despite recent challenges, the minister noted that there had been no major grid collapses in the last four months, except for a partial collapse earlier in the week, which was resolved in under two hours. He emphasized the importance of improving response times when such incidents occur.

During the event, Hexing Group’s CEO, Robert Liang, expressed optimism about expanding into Nigeria and reaffirmed the company’s commitment to advancing clean energy in the country.