In April, the NGX All-Share Index witnessed a significant downturn, shedding N3.57 trillion in market value.

This marks the first monthly decline for the NGX this year, following substantial gains of 17.7%, 12.47%, and 5.64% in January, February, and March respectively.

Nonetheless, the NGX maintains a year-to-date increase of 31.36%.

The decline in the index was primarily driven by policy announcements from the Central Bank of Nigeria (CBN), particularly the proposed recapitalization plan for commercial banks, aiming to raise approximately N4 trillion in fresh capital over the next two years.

Additionally, the CBN's substantial rate hike triggered intensified sell-offs, resulting in a 6% decrease in the local bourse, with the benchmark index concluding at 98,225.63 points.

The surge in rates diverted trillions of naira from the stock market to the fixed income market, as investors pursued higher yields.

The NGX All-Share Index closed below the 100,000-point mark, ending the month at 98,225.63 points, a notable contrast to its peak of 104,562.06 points at the end of March 2024.

The expectations of workers were dashed as the Federal Government refrained from unveiling the long-awaited increase in the minimum wage yesterday.

President Bola Tinubu, however, pledged to enforce a living wage that reflects the current economic circumstances.

Addressing attendees during the May Day celebration at the Eagle Square in Abuja, Tinubu, represented by Vice President Kashim Shettima, acknowledged the diligent efforts of the Tripartite Committee in proposing a national minimum wage. He expressed regret over the committee's inability to reach a consensus at its last meeting but assured resolution soon.

Tinubu emphasized the government's openness to considering not just a minimum wage but a living wage.

Despite assurances, Organised Labour has threatened to disrupt industrial peace and harmony if the tripartite Committee's negotiations on the National minimum wage are not concluded by the end of May.

Nigeria Labour Congress (NLC) President Joe Ajaero and Trade Union Congress (TUC) counterpart Festus Osifo jointly voiced their demands, citing N615,000 as a figure based on current economic realities.

They advocated for an upward review of retirement age in public service and urged members to remain vigilant and hopeful for better days ahead.

In a collective statement, they emphasized the importance of a national minimum wage that approximates a living wage, grounded in objective realities rather than fantasy, and urged prompt action to ensure workers' needs are met. They warned of potential industrial action if negotiations are not swiftly concluded.

Blinken presses Hamas to seal cease-fire with Israel, says 'the time is now' for a deal

U.S. Secretary of State Antony Blinken hiked up pressure on Hamas on Wednesday to accept the latest proposal for a cease-fire with Israel, saying the “time is now” for an agreement that would free hostages and pause the nearly seven months of war in Gaza.

But a key sticking point appeared to remain — whether the deal would completely end Israel’s offensive as Hamas has demanded.

Blinken met with Israeli leaders throughout the day on the last stop of his seventh visit to the region since the war erupted in October, trying to push through what has been an elusive deal between Israel and Hamas. The U.S. and fellow mediators Egypt and Qatar hope to avert an Israeli offensive into the southern Gaza town of Rafah, where some 1.4 million Palestinians are sheltering.

Throughout months of talks, Hamas has said the freeing of all the hostages it holds must bring a permanent halt to the war and the withdrawal of Israeli troops from Gaza.

The proposed deal now at the center of talks raises that possibility, according to leaked details that were confirmed by an Egyptian official and a Hamas official. But Hamas is seeking to strengthen the language to ensure a complete withdrawal of Israeli troops from the entire Gaza Strip, the Egyptian official said, speaking on condition of anonymity to discuss the internal negotiations. The group said it is likely to give its response to the proposal on Thursday.

In public, Israeli Prime Minister Benjamin Netanyahu has staunchly rejected stopping the war before Hamas is destroyed. In a sign of the challenges in the negotiations, Netanyahu in his talks with Blinken on Wednesday repeated his vow to launch the offensive on Rafah, which he says is Hamas’ last stronghold in Gaza.

Blinken said Israel has made “very important” compromises in cease-fire efforts and it is now up to Hamas to get the deal done.

“There’s no time for further haggling. The deal is there,” Blinken said, shortly before he was to leave Israel.

Earlier in the day, he said in talks with Israel’s ceremonial President Isaac Herzog in Tel Aviv that Hamas would bear the blame for any failure to get a deal. “No delays, no excuses. The time is now,” he said.

Blinken said the deal would also allow much needed food, medicine and water to get into Gaza, where the war has sparked a humanitarian crisis, pushed northern Gaza to the brink of famine and driven around 80% of the population of 2.3 million from their homes.

Blinken said there has been “meaningful progress” in efforts to increase the flow of aid. On Wednesday, Israel reopened its Erez crossing for deliveries into northern Gaza for the first time since it was damaged in Hamas’ Oct. 7 attack.

Hanging over the cease-fire negotiations is the possibility of an Israeli attack on Rafah, where more than half of Gaza’s population has fled, cramming into vast tent camps and other shelters. On Tuesday, Netanyahu vowed to go ahead with the assault with or without a cease-fire deal.

“The operation in Rafah doesn’t depend on anything. The prime minister made this clear to Secretary Blinken,” Netanyahu’s office said after the two met Wednesday. Hard-line members of Netanyahu’s coalition, on whom he depends to keep his government in power, have railed against any deal that prevents a Rafah attack as a victory for Hamas.

The United States has staunchly supported Israel’s campaign of bombardment and ground offensives in Gaza since Hamas’ unprecedented attack on Oct. 7 into southern Israel. But the U.S. has grown increasingly critical of the staggering toll borne by Palestinian civilians and has been outspoken against a move on Rafah. American officials say they oppose a major offensive but that if Israel conducts one, it must first evacuate civilians.

In Rafah, Palestinians clung to hope that, after months of reported near-deals, this time a cease-fire would be sealed and avert an attack.

Salwa Abu Hatab, a woman who fled Khan Younis who is now in a tent camp, said she wants to go home.

“Do you think we like life in tents? We are tired and suffering,” she said. “Every day they say there is a truce and negotiations, and in the end it fails. We hope they will succeed this time.”

“If the invasion happens, we do not know where to go,” said Enas Syam, a woman from Gaza City carrying her child in the camp. “There is no safe place left.”

Israeli airstrikes in Gaza continued. Late Tuesday, a strike hit a house in Rafah, killing at least two children, according to hospital authorities. An Associated Press journalist saw the children’s bodies at Abu Yousef al-Najjar hospital as their relatives mourned.

The Israel-Hamas war was sparked by the Oct. 7 raid into southern Israelin which militants killed around 1,200 people, mostly civilians, and abducted around 250 hostages. Hamas is believed to still hold around 100 hostages and the remains of more than 30 others.

Since then, Israel’s campaign in Gaza has killed more than 34,000 Palestinians, according to local health officials, and wreaked vast destruction.

Throughout his regional visit, with previous stops in Saudi Arabia and Jordan, Blinken urged Hamas to accept the cease-fire proposal, calling it “extraordinarily generous” on Israel’s part.

The proposal lays out three stages of six to seven weeks each, according to details first reported in the Lebanese newspaper Al-Akhbar, which is close to Hamas and the Lebanese Hezbollah militant group.

The first phase would bring a pause during which Hamas would release women and elderly civilians in exchange for the release of hundreds of Palestinian prisoners in Israeli jails. In a series of timed steps, Israeli troops would withdraw from a coastal road in Gaza, then from central Gaza and displaced people would return north.

In the meantime, talks would start on restoring “a permanent calm,” the Egyptian official said, speaking on condition of anonymity to discuss the internal negotiations.

The next stage would bring implementation of the calm, including Hamas’ release of all remaining hostages — soldiers and civilians — and a withdrawal of Israeli forces out of Gaza. The Egyptian official said Hamas sees the language about the withdrawal as too vague and wants to specify a complete withdrawal to avoid different interpretations.

The last stage would see the release of bodies of dead hostages and the start of a five-year reconstruction plan. The plan says that Hamas would agree not to rebuild its military arsenal.

AP

RUSSIAN PERSPECTIVE

Russia hits Ukrainian military HQ – MOD

Russia has carried out a strike on the Ukrainian military headquarters commanding troops in the southern sector of the front, the Defense Ministry in Moscow has announced.

In a statement on Wednesday, the ministry said that the military installation, Ukrainian troops and hardware, were hit by combined air, missile and artillery strikes.

Earlier in the day, citing local resistance members, RIA Novosti reported that the Russian military had targeted a Ukrainian HQ in the center of the port city of Odessa. According to the report, three explosions occured in the area, with a particularly powerful one near the facility itself. The local resistance reported numerous ambulances flocking to the HQ, adding that the area had been cordoned off by the Ukrainian authorities.

The head of the Odessa regional administration, Oleg Kiper, has confirmed there was a strike in the city, which he said involved ballistic missiles and killed at least three people. However, he claimed that only civilian infrastructure had been damaged.

Russia has repeatedly said that it targets only military installations and facilities that support defense operations, insisting that it never targets civilian infrastructure.

RIA Novosti also reported, citing resistance fighters, that Russia bombed a Ukrainian troop deployment area in the suburbs of Kharkov, a city on the Russian border, adding that another attack destroyed a warehouse storing military hardware in the southern Nikolaev Region.

According to numerous reports, a pro-Russian resistance movement is active in at least several Ukrainian regions, gathering data and engaging in sabotage against Kiev’s military.

The latest barrage comes after Russian Defense Minister Sergey Shoigu pledged last month to intensify attacks on logistics hubs and warehouses with Western-supplied military equipment.

WESTERN PERSPECTIVE

Russians throng to display of Western 'trophy' tanks captured in Ukraine

Western tanks and military hardware captured by Russian forces in Ukraine went on display in Moscow on Wednesday at an exhibition the Russian military said showed Western help would not stop it winning the war.

Long queues of people formed on what was a sunny May Day public holiday at the entrance to the exhibition, entitled "Trophies of the Russian Army," which is being held outside a museum celebrating the Soviet victory over Nazi Germany in 1945.

"History is repeating itself," the Russian Defence Ministry said in a statement, adding that the Soviet Union had in 1943 also put on a display of captured tanks and hardware, in this case from the German army.

"Strength is in the truth. It's always been that way. In 1943 and today. These war trophies reflect our strength. The more of them there are, the stronger we are," the ministry stated, predicting a Russian victory in what it officially calls its "special military operation" in Ukraine.

"No Western military equipment will change the situation on the battlefield," the statement added.

According to Western and Ukrainian critics, much of Russia’s military hardware is old or outdated, and Russian battlefield gains have resulted from sheer force of numbers and high casualties. Both sides keep the number of dead and injured a secret but are known to have suffered heavy losses.

The Moscow display, which includes U.S., German and French tanks supplied to Ukraine, came days after the U.S. approved a $61 billion aid package for Kyiv and after Russia made some swift but incremental territorial gains in eastern Ukraine at a time when Kyiv's forces say they lack ammo and manpower.

Ukraine, whose President Volodymyr Zelenskiy says it will eventually push Russian forces from its soil, held a similar exhibition along Kyiv's central boulevard last summer featuring burnt-out husks of Russian tanks and fighting vehicles.

Russia, says the International Institute for Strategic Studies, has itself lost over 3,000 tanks in Ukraine amounting to its entire pre-war active inventory, but has enough lower-quality armoured vehicles in storage for years of replacement and says it is now ramping up production of new tanks.

In addition to tanks, British and Australian armoured vehicles seized in Ukraine are on display in Moscow along with military hardware made in Turkey, Sweden, Austria, Finland, South Africa and the Czech Republic.

State TV's Channel One said the star of the show was a captured American M1 Abrams battle tank, which it said had been taken out by Russian forces in eastern Ukraine using a guided rocket and kamikaze drones.

Clambering over the Abrams holding his microphone, a state TV correspondent told Russians that the tank had been billed in the United States as an indestructible "wonder weapon".

"But that was all nonsense - look at this - all of its reputation has been destroyed," he said.

RT/Reuters

Anti-graft agency Economic and Financial Crimes Commission is taunting us with another emotional roller-coaster. They are asking us to join them in navel-gazing over another sensational case of thievery by a politician. We will do that for weeks (or months) and nothing else. Meanwhile, the said politician will be rehabilitated—probably appointed to a crucial position—in contempt of their ongoing case with the EFCC. One needs not be clairvoyant to say the latest graft case, involving ex-Kogi governor Yahaya Bello, is another ploy by the EFCC to titillate a public that still allows itself to be amused by jokes that lack a punchline. We have been here before (many times) and we know how this ruse ends: they will siphon emotion out of the public and eventually leave everyone hanging. No closure, nothing!

The most sensational of the allegations against Bello says he grifted almost a million dollars of public funds to pay his children’s school fees. Virtually every commentator has made this revelation the focus of their outrage. Bello, of course, stridently denies the accusation. What he failed to explain was how he managed to procure that much money and why he felt the urgency to pay for the length of his children’s school years. Who does that if not a man who wanted to exploit an unaccountable source of funds while he still had access to it?

Like other Nigerian politicians who dish out photos of their children graduating from schools abroad for poor Nigerians to gawk at, Bello also took his children out of the disaster zone called the Kogi State public schools and tucked them where the Nigerian decay has not touched. Despite claiming to be a poor herdsman with a mere 150 cows, former President Muhammadu Buhari too educated his children abroad. His mendacious yet witless aide, Femi Adesina, claimed Buhari sold his houses to afford the expense. Those children will grow up holding up their noses at the poor Nigerian masses, conveniently forgetting those were the same people their parasitic parents robbed to give them their lives.

That said, I struggled to understand the sensation around Bello’s case. Why did his case excite anyone, given that his actions are pretty standard? What is the difference between what he allegedly did and the “Bola Tinubu model” of using the state legislature to pass a bill that will pay an ex-governor humongous pension? Tinubu was the first governor who got the state legislature to grant him hefty amounts of money as pension, effectively tying the state’s destiny to his pockets. That model has been replicated by other greedy ex-governors without intentions of weaning themselves from the public purse. Bello too could have used the state Assembly to pass a bill paying his children’s school fees but he chose to be savage. The cynical part of me thinks that is the only sin he committed. If, after all these years, he did not learn to eat public funds with the finesse with which the old masters do it, he deserves to be disgraced.

The difference between Bello’s alleged crime and his ex-governor counterparts who granted themselves stupendous pension is the gap between eating oily yam with your fingers and using silverware. One makes you look primitive, while the other allows you the illusion of being civilised. I am sincerely confused by the morality of Tinubu’s supporters yelling at Bello. Would your opinion of him have been any different if he had instead set up a company called AlphaDelta Gamma and used it to achieve the same purpose? Sincerely, Bello’s only sin is his barbarity.

Despite the bold handwriting of ordinances written against him, the truth is that Bello is going nowhere. Not only does he know it, but even EFCC chairperson Ola Olukoyede must know it too. He cannot be so naïve to believe otherwise. During a recent press conference, Olukoyede grandiosely declared, ‘If I do not personally oversee the completion of the investigation regarding Yahaya Bello, I will tender my resignation as the EFCC Chairman.” Yinmu! He must think he is the first EFCC chairperson in history to spot a potential politician-thief. If Bello’s case is truly his dealbreaker, he had better resign right away because Yahaya is going nowhere. He might be disgraced for a while but that is the extent of what constitutes justice for corrupt politicians in Nigeria. No one goes to jail for corruption unless they fall out of reckoning with the powers that be. When you have passed your sell-by date and can no longer secure electoral victory, you will be conveniently discarded. That is when they sacrifice you to the EFCC.

Luckily for Bello, he helped the All Progressives Congress retain power in Kogi State. His peers in the Governor’s Forum who ran the same errand of “delivering” their constituency have been rewarded with “juicy” offices. The APC still needs him for the 2027 elections, so why sacrifice him now? Besides, he is also an APC member, the ruling party where virtually every single person within the ruling party has dirt on their hands. Jailing him for committing a popular sin will open the door to the possibility of other party members being similarly treated. That will ultimately demystify the party as a formidable redoubt for politicians. If that happens, the fraternal code of honour held by the thieves of public wealth will lose meaning, and the incentive for venal but powerful politicians to join the party will be lost.

There is no other reason people join a party in Nigeria than self-service. No party in Nigeria has a coherent ideology; nobody defects to them based on principles. It is to seek protection and access resources. Key Peoples Democratic Party members like Godswill Akpabio and Nyesom Wike had no qualms about joining the APC to be rebranded. Akpabio’s case with the EFCC has been momentarily forgotten and Wike’s own will never come up with the EFCC unless he costs APC the 2027 election. If Bello too waits this out, the EFCC will return to their original vocation of running after crossdressers, Bureau De Change operators, and money sprayers at Saturday afternoon owambes!

Olukoyede is not the first EFCC chairperson—nor will be the last—who thinks making noise in the media is akin to convicting an accused looter. His prosecutorial zeal notwithstanding, the court case will probably be botched by a lack of meticulousness. Here is why: Olukoyede alleged that Bello paid $720,000 out of the state coffers to the American International School for his child’s tuition before leaving office. In their response, the school disclosed that the sum was $845,852 and was paid in 2021 and for five children. Please note the wild difference between what the EFCC announced and what the school revealed. Good. Those discrepancies are why the EFCC’s case will eventually be thrown out of court based on some technicality.

Finally, the truth is also that there is a lack of will to pursue corruption. The present administration is aware (too acutely, in fact) of its own lack of moral legitimacy and can hardly confront graft without buckling under the weight of its own hypocrisies. Even under Buhari, the man who got into power by flexing anti-corruption muscles, two court convictions witnessed (Joshua Dayiye and Jolly Nyame) were reversed with presidential pardons. When they asked Buhari about ex-Kano governor Abdullahi Ganduje who was caught on video stashing his pockets with dollars, he pretended he had hearing problems. If Buhari who supposedly hated corruption could fail so grandly, is it Tinubu that will now muster the resolve? The person who recently announced he would fight corruption with technology? Why did “technology” not stop the lawmakers who approved his grand pension? The person who cedes to machines the duty that humans with a working conscience ought to confront cannot be taken seriously. Dey play!

Punch

Trust in bosses is on the decline, according to a new survey by Interaction Associates released last month. Nearly 60 percent of the 520 managers or supervisors polled worldwide believe their organization lacks trust.

And 85 percent of 24,000 respondents to a worldwide Regus survey last year said they wanted their bosses to show more trust in their employees who work flexible hours.

Indeed employee engagement measured just 13 percent in a huge worldwide survey conducted by Gallup in 2012.

The best bosses know the key to keeping employees engaged is by giving them the managerial support they seek.

Here are a few secrets every good boss knows about managing a modern workforce:

1. Motivation is not all about rewards.

Contingent motivators (such as "if you do this, then that") narrow thinking and block creativity unless the tasks at hand are simple and rote, Daniel Pink said in a TED Talk "The Puzzle of Motivation." When employees have a complex problem to solve, their possibilities seem restricted by the idea of an incentive.

Instead, managers should share a compelling vision and the objectives to be reached to realize that vision. Provide feedback and recognition along the way to help employees reach their objectives. Empower autonomous workers with the necessary tools and support them along the way.

2. Micromanagers won't win.

When managers are looking over every employee's shoulder, this only builds a nervous, disengaged team. The employees involved feel a lack of trust from their managers, which sets a negative tone through the workplace and puts unnecessary pressure on staff.

Give employees the tools they need and the direction, but leave the rest to them. When mistakes happen, look at it as a teachable moment not just for the employee but the leaders as well.

Ask "Why did the employee screw up? Did he lack the necessary skills? Was the objective unclear? Did the employee not receive appropriate feedback? Ensure that evaluations and feedback are growth not punishment oriented.

3. Hierarchies are not conducive to trust.

Millennials are expected to take the workforce by storm, occupying 75 percent of the world's workforce by 2025, according to a 2014 Deloitte survey released last January. "Roughly two-thirds of Millennials feel the outlook and attitudes of management are serious barriers to innovation, such as a reluctance to take risk," according to the report that polled 7,800 millennials from 28 countries.

Forward-thinking managers regard their employees as collaborators in contrast to the management-centric approach prevalent years ago. And open-minded managers appreciate employees who are unafraid to share ideas and who want to contribute in a way that makes a difference, even if that means challenging the views of their superiors.

"Millennials want to leave their mark on the world by working for organizations that benefit society, encourage innovation, and provide them with the opportunity to expand their skills," the Deloitte study noted. Only 45 percent of the millennials surveyed said they believe leaders in developed markets are committed to helping improve society.

Don't sit on a throne expecting employees to follow directions blindly. Expect questions, new ideas and the challenging of opinions. When working together with staff, transcend the limitations of rank. Involve everyone on a team in making big decisions. Always listen to what employees have to say and respond supportively.

4. Employees do great work when given freedom.

In a 2012 study by Bentley University, 40 percent of 1,000 millennial women and 33 percent of millennial men said they were interested in working from home.

More recently, 41 percent of 933 employees polled for the 2014 State of Telecommuting Report released in February said they telecommute one day a week.

The remote workforce is on the rise, and the ability to work from wherever and whenever will undoubtedly move from a desire among workers to a mainstay.

Why is sticking around the office from 9 to 5 no longer cool? For many employees today, the work results are what matter more than the time involved to produce them. Technology has enabled efficiency at record-breaking levels when it comes to getting things done.

There's no use in letting all that spare time go to waste. Many employees today want to use it to put the "life" back in work-life balance, which may have been thrown off by workaholic predecessors.

Respect employees' time and give them the freedom to work from home occasionally, if the organization can permit it. Recognize them for their achievements instead of how much time they put in at the office.

5. Information needs to be accessible at all times.

When retrieving information, consumers are no longer used to waiting, unless it's just three seconds. Many contemporary workers don't like to wait either, especially when it comes to receiving feedback on the job. Information, whether it's about how-to guides or performance evaluations, needs to be immediately accessible to help workers learn how to improve faster.

Communicate with timeliness in all areas, especially when giving feedback. The sooner employees know what they're doing well and what they need to improve upon, the sooner they can work on making the necessary changes.

Entrepreneur

Contrary to President Bola Tinubu's announcement at the World Economic Forum in Riyadh, Maersk, the Danish shipping behemoth, has refuted claims of a proposed $600 million investment in Nigeria's port infrastructure.

Tinubu had touted A.P. Moller-Maersk's commitment to bolstering Nigerian ports to accommodate larger vessels, thereby stimulating trade and economic growth.

However, Maersk swiftly denied any such agreement, clarifying that no deals had been finalized. The confusion stemmed from a routine meeting between Robert Maersk Uggla, Chairman of A.P. Moller-Maersk, and Tinubu, which did not result in new investment commitments.

While reaffirming its longstanding presence in Nigeria and commitment to local development, Maersk remained tight-lipped about ongoing investment discussions.

This rebuttal dampens expectations spurred by the Nigerian government's anticipation of foreign investments post-forum, contradicting earlier assertions by Tinubu's spokesperson, Ajuri Ngelale. Despite affirming its dedication to Nigeria, Maersk disavows any immediate plans for the purported $600 million investment.

Yiaga Africa, a prominent election observation group, reveals in its latest report that only 23 percent of Nigerians have faith in the Independent National Electoral Commission (INEC).

Titled "Electoral Trust Restored? Nigeria's Electoral Process One Year after the 2023 General Election," the report offers a thorough examination of the post-election landscape. Surveys conducted by Yiaga Africa unearthed widespread distrust in INEC following both the general and off-cycle governorship elections.

Despite INEC's technological advancements like the BVAS, citizens remain skeptical about the umpire's ability to conduct fair and transparent elections. Urging immediate action to restore public confidence, Yiaga Africa emphasizes the crucial role of transparency and accountability for all election stakeholders, calling on INEC to enhance public trust through greater transparency and regular engagement.

The report also critiques President Bola Tinubu's perceived lack of commitment to electoral reforms, highlighting the need for a definitive reform agenda to rebuild trust in the electoral process.

Additionally, Yiaga Africa raises concerns about judicial inconsistencies and attacks on the electoral process, calling for stringent measures against electoral offenders to uphold the rule of law and democratic order.

Minister of Power, Adebayo Adelabu, sparked outrage with his warning that Nigeria faces a nationwide blackout within three months unless the proposed electricity tariff hike is implemented.

Adelabu delivered this ultimatum during his appearance before the Senate Committee on Power, which is scrutinizing the tariff hike proposed by the Nigerian Electricity Regulatory Commission (NERC).

Despite the Senate committee's rejection of the new tariff regime, Adelabu stressed the necessity of the increase to prevent a complete shutdown of the power sector.

His remarks triggered a wave of indignation on social media, with Nigerians denouncing the government's insensitivity to the plight of citizens. Many criticized the administration for exacerbating hardship and called for a change in leadership.

Amidst the backlash, concerns mounted over the government's apparent disregard for public welfare and the escalating cost of living. Nigerians expressed frustration over recurrent power outages and the lack of tangible improvements despite successive tariff hikes. As discontent simmers, calls for accountability and responsible governance grow louder across various social media platforms.

Here are some the reactions, as par Daily Trust:

Writing via Facebook, one Owuru Odun-Itan Emmanuel said: “A govt that derives pleasure in inflicting pains, hardship and suffering upon her citizens.”

Abdulrahman Zubairu: “Tinubu and his ministers are just a disappointment. We have really made a costly mistake in his election. I sincerely hope God give us the wisdom to make amends in the near future.”

Oyeyemi Olugbami: “And this one want to govern my State! Why must the price of everything increase under this Government. No mercy for the masses at all!!”

Ahmad Shehu: “We’re tired of hearing of investors since the return of democracy in 1999. Electricity Tariff is always on increased and nothing attracted investors rather than suffering by Nigerians. The whole system is collapse. Nigerians are always in blackout. Ihave never seen the worse power minister like this man.”

Muhammad Nasir Jabaka: “It’s this kind of minister that will make me pray for coup de tat in this country, this government underrated it’s people and their capabilities.”

Tweeting via @mazinwonwu, one Chiagozie Fred Nwonwu: “As I type this, there is no power in my house. A rechargeable standing fan is battling back the stifling heat. Energy bulbs powered by a battery provide luminance. I am so used to the unwieldiness of public power supply that I get worried when it stays on for 24 hours.”

@DengeTyro: “These people don’t care about advancing as a society… or providing people with better living conditions. All they care about is putting more money in their pockets. And as long as society rewards greed, those are the kind of leaders we’ll keep having.”

@mayorz16_: “All I know is that if this man contest in next governorship election in oyo state and any one vote for him, that person no go make am in life again.”

@ometere29: “But we have started paying for light with the new tariff, what is this threat for again. You guys think you won’t lose money too. Clowns.”

@Tee_Classiquem1: “I hope people of Oyo state are taking note of this Adelabu guy, do everything in your power to make sure he doesn’t smell that governorship sit.”

On Instagram, @sd_sammy.kings, wrote: “They haven’t removed this man already?”

@alegrotravels: “Pls Tinubu should sack this fellow. He has no control of his utterances. A public office should manage what he says to the public!”

@joegel 109: “de pity your governorship ambitions oga if u enter na ur room for this Oyo state we de wait u Omo Osan.”

@smab_bint_bakare: This statement is insensitive! Fuel subsidy, gone! Prices of good and services, skyrocketed! And yet still the power supply…. not so good! We are not here to suffer, anyway.”

@olawealth360: “I thought they remove him @officialasiwajubat kindly replace the minister of power he his incompetent enough sir.”

Federal Government on Tuesday raised salaries for government workers by between 25% and 35%, backdated to January, the salaries commission said, as Africa's biggest economy grapples with its worst cost of living crisis in nearly three decades.

The lowest-paid government employee will earn 450,000 naira ($323.97) a year or 37,500 monthly, the National Salaries, Incomes and Wages Commission said in a statement.

The increase covers all federal government employees, including those in the health, education and security sectors.

The government is separately negotiating with labour unions on a new national monthly minimum wage, which was last reviewed in 2019.

Nigerians are facing inflation of 33.20%, the highest in 28 years, after the government removed a popular petrol subsidy and foreign currency controls, which weakened the naira.

The country's electricity regulator this month hiked tariffs for some consumers.

($1 = 1,389.0000 naira)

Reuters