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Senate Commences Labour Act Review, Mulls Stiffer Sanctions For Offenders

The Senate on Tuesday commenced moves to review the Labour Act with a view to making its provisions conform to best labour principles and provide stiffer penalties for various offences ranging from modern slavery, child Labour to discrimination against women in the work place. The amendment to the Labour law seeks to introduce stiffer penalties […]

Economy News Extra Latest News Political Economy Professionals & HR Devt.

23.18m Nigerians Jobless, As Unemployment Rate Hits 33.3%

Despite policy measures and other initiatives by the Federal and State governments to tackle the challenge of rising unemployment rate in the country, Nigeria’s crisis of joblessness has continued to accentuate with 23.18 million competent and fit Nigerians remaining unemployed as at last quarter of 2020. Specifically, the National Bureau of Statistics (NBS) on Monday […]

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FG Suspends Grants To Youths, Opt For Loans

The Minister of Youth and Sports Development, Mr. Sunday Dare, has disclosed that the Federal Government has stopped giving grants to youths but rather has now opted for revolving loans to aid their entrepreneurial and creative ventures. The minister gave this hint at the end of a 2-Day workshop titled ‘Challenges and opportunities for rural […]

Budgeting Economy News Extra Latest News National Assembly Professionals & HR Devt.

Organized Labour Pickets N/Assembly Over Minimum Wage Saga

The organised labour group today made good its threat to picket the National Assembly in protest against alleged moves by the Legislature to amend the Minimum Wage section in the 1999 Constitution (as amended). The Legislature is accused by the labour group as considering the option of removing the Minimum Wage section from the Exclusive […]

Economy News Extra Latest News Professionals & HR Devt.

Ondo Lawmakers Oppose Amendment Of Minimum Wage Section

Lawmakers in Ondo State House of Assembly have assured workers and leaders of the Organised labour in the state that they would not support any bill seeking the removal of minimum wage from the Exclusive legislative list of the nation’s constitution. The Speaker of the Assembly, Hon. Bamidele Oloyelogun gave the assurance in Akure when […]

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Workers To Begin Nationwide Strike Tomorrow

The Nigeria Labour Congress (NLC) and its affiliate unions will on Wednesday embark on a nationwide strike over industrial-related legislative matters. Specifically, the organized labour body stated that the planned industrial action was prompted by alleged attempts by National Assembly lawmakers to move the Minimum Wage section from the Exclusive Legislative List to the Concurrent […]

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Senior Telecom Workers Give Hauwei 14-Day Industrial Action Notice

Private Telecommunications and Communications Senior Staff Association of Nigeria (PTECSSAN) on Monday issued a 14-day industrial action notice to Huawei Technology Nigeria Limited over alleged unfair labour practices. The PTECSSAN, which is an affiliate of Nigeria Labour Congress, NLC, gave the 14-day industrial action notice to the telco’s management at a media briefing in Lagos. […]

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FG To Flag-Off Final Schemes Of MSMEs Survival Fund

As part of efforts of the present administration to fully rejuvenate the economy, the Federal Government is set to kick start the last two schemes of the MSMEs Survival Fund component of the National Economic Sustainability Plan (NESP). The schemes are namely, the Guaranteed Offtake Scheme (GOS) and the General MSMEs Grant. The Minister of […]

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Pension Assets Hit N12.1Trn In 2020, As FG Bonds Gulps N8.13Trn

The National Pension Commission (PENCOM) has put the total pension assets under the Contributory Pension Scheme (CPS) at N12.3 trillion as at the end of fiscal year 2020, representing about N2.1 trillion over the assets’ value as of the end 2019. Latest figures published by the commission indicated that out of the gross asset value […]