Aliko Dangote, Africa’s richest person, has revealed that some international oil companies (IOCs) are facing difficulties in supplying crude oil to the Dangote Petroleum Refinery. Dangote made these comments during an appearance on CNN’s ‘Connecting Africa’ programme, which aired on June 3.

When asked whether domestic oil companies have been able to supply crude to the refinery, Dangote acknowledged there are "challenges." However, he noted that the Nigerian National Petroleum Company (NNPC) Limited has been very supportive in supplying crude to the 650,000 barrels-a-day refinery.

"The NNPC does its part, but some IOCs are struggling to provide us with crude because they are accustomed to exporting and are reluctant to stop," he said.

"Africa is not progressing as it should because we export raw materials and import finished goods. Regardless of the material—be it gold or any other raw resource—it's always undervalued compared to finished products."

Additionally, Dangote highlighted that the Dangote Group has implemented a robust succession plan. "We have divided the company into two segments: myself as the group president, a group president for oil and gas, and a group president for our other businesses," he explained.

He projected that the Dangote Group's revenue would reach $30 billion by the end of the year. "Combining all our operations, by the end of this year, we will have a group with $30 billion in revenue, placing us among the top 120 companies globally," he stated.

Furthermore, Dangote expressed confidence that the refinery would soon become profitable. "It's not just about making money; it also brings us immense satisfaction to contribute to Africa's development," he said.

Organised Labour may settle for N100,000 minimum wage as the Tripartite Committee on National Minimum Wage commences daily meetings for five days to reach a consensus.

Multiple sources in the labour movement told The PUNCH on Tuesday that the union leaders were willing to review their demand from N494,000 to N100,000, following the criticism and controversy that trailed their proposal which was considered outrageous and unrealistic.

In a statement by his media aide, Rabiu Ibrahim on Saturday, the Minister of Information and National Orientation, Mohammed Idris, said the proposed minimum wage would result in an annual expenditure of N9.5tn, a burden he described as untenable for the nation’s finances.

Despite the intervention of the leadership of the National Assembly, labour embarked on an indefinite strike on Monday, a development that grounded economic activities nationwide.

Banks, airports, public schools and courts were shut, forcing the Federal Government to convene an emergency meeting to find a way out of the impasse.

In a bid to move the negotiation forward, the unions on Tuesday announced the suspension of the industrial action for five days after President Bola Tinubu agreed to pay a national minimum wage higher than N60,000 and the tripartite committee pledged its readiness to convene daily until a new minimum wage is announced.

To show his commitment to the negotiation, the President on Tuesday directed the Minister of Finance, Wale Edun, to present the cost implications for a new minimum wage within two days.

Tinubu gave the order at a meeting with the government negotiation team led by the Secretary to the Government of the Federation, George Akume, at the Presidential Villa in Abuja.

Speaking with The PUNCH in confidence because Labour had not formally presented its final offer to the tripartite committee, a senior NLC official confirmed that the unions would insist on N100,000 minimum wage.

Agenda setting

He stated, “Today’s (Tuesday) meeting was essentially to set an agenda and plan how to complete the assignment within the five days.

“The government representatives did not mention a raise in the N60, 000. They just set the agenda on what to do and how to go about the negotiation. There was no mention of any increment. But labour planned to close the negotiation on N100,000 minimum wage.’’

The Deputy Head of NLC Political Commission, Theophilus Ndubuaku, also confirmed that the Tuesday tripartite meeting on minimum wage was to draw an agenda for the daily meetings.

“We met today (Tuesday) to draw up an agenda for the one-week daily meeting. We met today and drew the agenda because the agreement was that we meet daily for the meet one week and on our own, we said we are relaxing the strike not even suspending it.

“It’s more like putting everybody on red alert. It means we are not going to give any notice. Which means by this time next week, we are going on strike. There is a difference between relax and suspend. Relax is to stay on your duty post and put your hands on the trigger. It is tomorrow (today) that we are expecting the government to submit another proposal,’’ he explained.

The organised labour vowed to reject any little addition to the N60,000 offer by the tripartite committee on the new minimum wage.

The President of the Trade Union Congress, Festus Osifo, made this known on Channels Television’s Politics Today programme on Tuesday.

TUC warns

When asked whether labour would accept a few thousand naira additions to the offer, the TUC boss said, “No, we also told them that it’s not that we’d get to the table and you start adding N1, N2, N3,000 as you were doing and we got some good guarantees here and there that they would do something good.”

Osifo added that labour was not fixated on N494,000 as the new minimum wage for workers in the country but the tripartite committee must show seriousness and offer workers something economically realistic in tandem with current inflationary pressures.

Though the union leader refused to mention a specific amount, he said the new minimum wage must be equal in purchasing power to the value of N30,000 in 2019 and N18,000 in 2014.

But disclosing to journalists the presidential directive to the finance minister, the Minister of Information and National Orientation, Mohammed Idris, said Tinubu during the meeting directed Edun to provide the financial implications of the new minimum wage in 48 hours.

He noted, “The President has just summoned a meeting of all those who negotiated on behalf of the Federal Government led by the Secretary to the Government of the Federation. The minister of finance was there, the minister of budget planning, the minister of information, the minister of budget and national planning, the minister of labour, and the NNPCL GMD.

“We were all there to look at all issues and the President has directed the minister of finance to do the numbers and get back to him between today and tomorrow so that we can have figures ready for negotiation with labour.”

Punch

Former President Goodluck Jonathan on Tuesday said that many politicians would avoid going to court if the judiciary handled election disputes fairly.

Speaking in Asaba, the capital of Delta State, during the inauguration of the new state high court complex, Jonathan expressed his view that approximately 50% of those who resort to legal action do so because they feel cheated by the electoral management system.

“My thinking is that 50 percent of those who go to court do so because they felt they were cheated by the electoral management system; they were rigged out,” Jonathan said.

“When you feel naturally aggrieved, you then go to court. So assuming the elections are properly conducted, they know they failed the election, but they feel they can use the judiciary to declare them winners.

“If the judiciary doesn’t declare who doesn’t win the election as winner, that many 50 per cent will not go to court.

“In South Africa, the electoral management body will never compromise - they all know. If you lose the election, you just wait for the next election. You don’t need to go to court.

“Because if you go to court, the judiciary too will not compromise. So you will not get anything.”

Jonathan also praised the Delta State government’s efforts to improve the working environment for judicial officers.

He commended Governor Sheriff Oborevwori for focusing on infrastructural development and completing projects initiated by previous administrations.

The Guardian

Bandits have abducted no fewer than 26 persons in Niger State communities.

The incident occured in Mashegu and Shiroro Local Government Areas of the state on Sunday and Monday.
According to local sources, the bandits stormed a village called Adogo Malam and abducted six people.

Similarly, another set of bandits also invaded Tunga Kawo community, three kilometres from Mashegu on Monday and 20 persons were confirmed to have been abducted during the invasion while several cows were rustled.

The bandits were yet to enter into negotiation with families of those abducted, though their whereabouts are also unknown at press time.

The Public Relations Officer of Niger State Emergency Management Agency, NSEMA, Hussain Ibrahim confirmed the incident to our correspondent.

He said: “The agency is in receipt of reports of persistent banditry activities at shiroro and Mashegu LGAs. This time, a village called Adogo Mallam in Mashegu council was attacked on Sunday and six persons were kidnapped, while on Monday, no fewer than 20 persons were kidnapped in Tunga Kawo community in Erena, Shiroro council of the state with hundreds of cows rustled.”

Vanguard

PRESS RELEASE

Afenifere expresses deep concern over the increasing spate of civilian-army clashes and implores the citizenry, the army and the government to tread the path of justice, peace and unity to prevent total anarchy or breakdown of the country’s processes. The killing of soldiers and the brutal reprisals that have accompanied them in Delta and Abia States have created a crisis of mutual recrimination in recent times. All over the world, citizens revere their soldiers and are only attacked when viewed as an army of occupation. The present situation is unacceptable and Afenifere will not allow itself to be desensitized to these killings and watch the slide towards anarchy. Afeniferetherefore suggests the following as solution:

1. Afenifere calls on the aggrieved citizenry to employ legal democratic means to correct injustices even in the pursuit of their aspirations. Loss of lives through the unbridled disrespect for the law or of taking the laws into one’s hands will only breed anarchy and create situations that criminals and nihilists can take advantage of to conflagrate for their own evil agenda. Elders in communities are hereby called upon to guide their wards away from radicalization and from being used by those with ulterior motives. If and when the Youth attack the State, more often than not, it is the elders, the women, the infirm and children that suffer, as the offending youth are quick to flee.

2. Afenifere’s most profound appeal goes to the army that is reputedly the most disciplined force in the country. We implore the army to desist from inflicting collective punishment on human settlements where they have been challenged or killed. On many occasions, those that carry out attacks against the army do not reside in the area but are mere agent provocateurs. Even if certain people in the community are suspected to have committed the atrocity, international conventions prescribe careful and definitive investigations for singling out the perpetrators.

3. The 1949 Geneva Conventions and other international human rights statutes prohibit collective punishment, specifically so is Article 33 of the Fourth Geneva Convention and Article 4 of the Additional Protocol II. Democratic nations would rather allow the guilty escape than to punish the innocent. The army should not allow itself to be ruled by emotions and a sense of retributive justice that could drive them to punish and kill innocent people who they are constitutionally employed to protect. We recognise how painful it could be for soldiers whose colleagues are killed. The Army High Command is encouraged to take proactive steps to defuse the situation by redeploying soldiers that may have been traumatized.

4. Ultimately, the increasing spate of civilian-army clashes should serve as a wake up call to the Commander in Chief and President, Bola Tinubu, to heed the clamour for the restructuring of the polity so as to diffuse rising tensions by creating a just and fair political system to prevent citizens from attacking national institutions especially the army in frustration.

5. The army that is professionally trained to kill should not be deployed within the country to tackle civilian issues, which matters normally belong to the jurisdiction of the police and other civilian forces. In addition to their attitude towards self determination activists and their communities, we have witnessed some level of high handedness even in Abuja, where a whole shopping complex was closed down because of an alleged violation or infringement of a few soldiers’ rights.

6. Across the world there is always a subtle battle of supremacy between force, military regimes in Africa arrested the development of our police to prevent them from being able to challenge military rule and authority in the civil arena. Now, a democratic government needs to accelerate the restructuring of the police to make it more professional, better equipped, with its structure decentralized into multiple levels - community, state and federal, to promote better community relations. Modern police forces are more culturally sensitive and trained in peace and conflict resolution.

7. Finally, Afenifere re-emphasises the requirement to restructure the country to make every citizen and ethnicity justified to be part of a responsive representative governance, as advocated in the 2014 National Conference and in similar Reports. Many of the troubles and anxieties we have witnessed are inextricably tied to agitations for self determination and a rebuff of the distance between the governed and the central government. All these could be put to rest with the devolution of power from the central government to representatives of the aggrieved peoples.

 Signed:

Justice Faloye, National Publicity Secretary, Afenifere

US says response from Hamas on ceasefire proposal still awaited

A response from Palestinian Islamist group Hamas on Israel's ceasefire proposal that U.S. President Joe Biden revealed on Friday is still being awaited, White House national security adviser Jake Sullivan told reporters on Tuesday.

"We are waiting for a response from Hamas" through the Qatari mediators, Sullivan said.

CIA Director Bill Burns will be in Doha to consult with Qatari mediators on the Gaza ceasefire proposal, Sullivan added. Qatar has been mediating on Gaza between Israel and Hamas.

Qatar said on Tuesday it had delivered the Israeli ceasefire proposal to Hamas that reflected a three-phase proposal presented by Biden, and that the paper was now much closer to the positions of both sides.

A spokesman for Hamas, which has ruled Gaza since 2007, reiterated on Tuesday it could not agree to any deal unless Israel makes a "clear" commitment to a permanent truce and complete withdrawal from Gaza.

For his part, Israeli Prime Minister Benjamin Netanyahu has also repeated that there can be no permanent peace unless Hamas is eradicated, as he struggles with profound political divisions at home over the U.S.-backed truce proposal.

Israel's assault on Gaza has killed more than 36,000, according to the local health ministry, caused widespread hunger, flattened most of the enclave and led to genocide allegations that Israel denies.

The Israeli onslaught followed an attack on Israel by Hamas on Oct. 7 that killed 1,200 with 250 people also taken as hostages, according to Israeli tallies.

Reuters

WESTERN PERSPECTIVE

Russia's two largest banks to open in annexed regions of Ukraine by July

Russia's two largest banks expect to open branches and offices in July in the regions of Ukraine that Moscow claimed to have annexed in 2022, the heads of Sberbank and VTB said on Tuesday.

Russian President Vladimir Putin moved to annex Ukraine's Donetsk, Luhansk, Kherson and Zaporizhzhia regions in September 2022, following what Ukraine said were sham referendums. The move was condemned by many countries as illegal.

Russian forces only partly control the four regions.

State-owned Promsvyazbank, which has focused on state employees and the defence sector since it was bailed out by the central bank in 2017, has already been opening branches in the four regions, as Russia aims to provide civilians and soldiers with cheap credit and banking services.

"Within one and a half months our first 16 branches should open there," Sberbank CEO German Gref said in Russia's upper house of parliament on Tuesday. "So we will be present throughout the whole country's territory."

No. 2 lender VTB will open two offices in Luhansk in July and plans to start servicing clients in Donetsk and the port city of Mariupol in the Donetsk region by the end of the year, CEO Andrei Kostin said on Tuesday.

VTB's branches there will serve retail clients and small and medium-sized businesses.

RUSSIAN PERSPECTIVE

Present-day territorial realities must be recognized to start dialogue on Ukraine - Moscow

Russia is open for negotiations on the Ukrainian conflict settlement, but they can be initiated only after the present-day territorial realities are recognized, Russian Deputy Foreign Minister Mikhail Galuzin told TASS on Wednesday.

“Russia is open to holding a dialogue on Ukraine based on the consideration of our interests,” he said in an interview with TASS. “Our position regarding a comprehensive, sustainable and just settlement of the crisis remains unaltered.”

“In order for this to happen, first of all, its original causes must be addressed and modern geopolitical and territorial realities must be recognized,” he continued. “The West must stop pumping up the Ukrainian military with weapons and the Kiev regime must put an end to its military activities.”

The diplomat added that endless supplies of Western weapons to Ukraine “only drag out the conflict and lead to an increase in civilian casualties.”

According to him, Moscow is taking a notice of the growing risks of “weapons spreading around the world and ending up at the hands of terrorists and criminal groups.”

“Unfortunately, there is still a bunch of people in Europe and the United States, who pursue the goal of inflicting a ‘strategic defeat’ on Russia and are ready to blindly sacrifice the interests of their countries and peoples, pushing them to the edge of the abyss,” Galuzin added.

Reuters/Tass

They say recruiting is a lot like dating. Online profiles act as piles of resumes that reduce humans to a comparatively tiny number of choice words they've strung together to entice you to consider them. All are hopelessly vying for your attention, if not approval. 

Meanwhile, once they do just that, many won't even be interested in what you have to offer, according to daters everywhere and SHRM. 

For some, your "competitive salary" isn't competitive enough. Others won't find your benefits package to be, well, beneficial enough. And then there are those who are simply using your interest as a bargaining chip to show their current engagements that they need to step it up, as they have other options.

Blue chip companies are the celebrities in the employment world. No matter how widely known their flaws may be, they hold mass appeal. And with their widespread interest, and the larger-than-average applicant pool that floods their inbox, they're in a unique position to be far more picky than the average employer. With that, they also need to be more savvy than average to find the proverbial needle in the Everest-size haystack. 

No easy feat. Or at least so I thought until a source at Apple HR shared a simple, yet brilliantly effective strategy--one that I will never hire anyone again without first using: 

Ask candidates how they got their previous roles. 

Much as getting to know a date boils down to asking good questions, the same holds true for interviews. Apple has a history of bizarre interview questions that secretly serve a larger purpose, and my inside source at Apple HR tells me that the purpose of this question is to find out whether or not former colleagues brought them on to work with them at their new employers. And the reason is twofold. 

1. They know whether the candidate knows their stuff 

Finding candidates who have the skills and knowledge to perform a job well can prove to be quite the mission. After all, there are the smooth talkers whose expertise lies within saying what they can do, not in the actual doing of it. Then, on the other end of the spectrum, there are those who are better at doing what they do than talking about what they do. 

Add the fact that the more advanced the position, the more difficult it becomes. 

In fact, according to a former Apple interviewer, around 75 percent of candidates can't answer Apple's most basic questions. However, asking staff for recommendations on candidates they have previously worked with has changed the hiring game. 

This is because colleagues have a unique vantage point into the inner workings of their co-workers. As experts in their field, they can truly tell how knowledgeable and skilled others are in their field. And having worked with them, they have also witnessed how they actually work. 

For example, despite regarding myself as an informed homeowner, it wouldn't take much to fool me into believing that someone is a capable plumber. Yet, a plumber could tell whether or not another plumber seems to know what they're talking about, and a former co-worker would know whether or not they are actually good at their craft. 

Meanwhile, they might get the job done, but the workmanship might be sloppy to those who know what they're looking at, they might overlook an issue that will cost you more later, or perhaps they take far more time than the job should take -- while you're footing the bill for hourly labor. 

Of course, this is not only about how well our colleagues perform their jobs. It also reveals many of the soft skills and characteristics that you'll be hard-pressed to glean from a resume, an interview, or even a reference. 

2. They know the candidate's character

A resume and cover letter are simply a great way to get to know what a candidate wants you to know. But perhaps the most important parts are often the ones left off the resume. However, former colleagues are privy to things that no one would tell a potential employer.

For example, do they show up late every day and take two-hour lunch breaks, yet put in for overtime? Do they get their work done or do they distract others from doing their work? When they say they're open to new ideas, does that mean others' ideas, or just their own? Do they require excessive hand-holding to do a good job?

You get the point and I'm sure you have your own examples from experience with certain colleagues over the years. The point being, people often move to new employers and, in time, bring their favorite co-workers with them -- and there's a reason for that. 

Not only do we know who is good at their job after working with them, but we also know who is simply good to work with. People don't stay in jobs solely for the pay, the clout, or even the work itself. What makes or breaks someone's day-to-day life within a role -- or a relationship -- is often how they feel about the company we keep. 

What the hiring team at Apple recognizes is that having the skills to sufficiently perform a job is just a small piece of the puzzle when hiring the truly best candidates, because skills and knowledge are just a small piece of who someone is. Though character was traditionally revealed in time, savvy employers are using the interview process to gain more insightful information through questions and tests, such as Apple's three tests to separate candidates -- and with that, make better hiring decisions more easily.

Inc

The indefinite strike by labour unions in Nigeria might conclude soon following an agreement reached with the federal government on a new national minimum wage late Monday.

The agreement was finalised at a meeting in Abuja, convened by the Secretary to the Government of the Federation (SGF), George Akume. National Security Adviser Nuhu Ribadu, the Minister of Information, Mohammed Idris, and the Minister of Labour, Nkiruka Onyejeocha also attended.

While the specific new minimum wage amount remains undecided, the federal government has committed to a figure higher than the current N60,000 offer.

The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) initiated the strike on Monday, demanding a new minimum wage and a review of the increased electricity price for some consumers.

The agreement was signed by NLC President Joe Ajaero, TUC President Festus Osifo, Minister of Information Mohammed Idris, and Minister of Labour Nkiruka Onyejeocha.

The document states, “The President, Commander-in-Chief of the Armed Forces, Federal Republic of Nigeria, is committed to a National Minimum Wage that is higher than N60,000.”

To expedite the process, the Tripartite Committee on National Minimum Wage will meet daily over the next week to finalise an agreeable minimum wage that satisfies both the government and labour unions.

In response to the President's commitment, labour leaders will meet with their respective union executives and affiliated unions on Tuesday to seek approval to suspend the strike.

The unions previously noted that the current minimum wage expired on April 19, 2024, necessitating an urgent review. They also criticised the recent electricity tariff increase, arguing it places an unsustainable burden on businesses and workers.

The unions rejected the government's proposal of N60,000, significantly lower than their requested N495,000. They argued the offer was insufficient, given the financial hardships caused by government policies like the petrol subsidy removal, naira devaluation, and increased electricity tariffs.

The unions stated, “Government’s counter-offer mocks the excruciating hardship brought on workers by its insensitive and oppressive economic policies.” They emphasised their demand aligns with international standards and legal requirements.

The strike, which began Monday morning, disrupted operations at public places including airports, schools, and hospitals, and affected private businesses such as banks and electricity companies. The whole country has been in utter darkness as the national grid was switched off.

Nigeria’s foreign exchange reserves have fallen by $1.8bn in 10 weeks, according to data from the Central Bank of Nigeria.

As of May 29, 2024, the country’s FX reserves were $32.69bn, down from $34.44bn as of March 18. This decline signifies a drop from the $36.1bn recorded in May 2023.

The reserves have been declining steadily over the past few months, with a total decrease of $3.4bn since February 2024.

Experts believe that the decline in FX reserves is attributed to a combination of factors, including debt repayment, a significant decline in oil exports, a decrease in foreign investment, and a rise in imports.

Debt repayment recorded by the apex bank as of January 2024 was $560m, it reduced to $283.29m in February and then $276.16m in March 2024. Experts claim that the apex bank must have been servicing the foreign debts from the external reserves.

In May, the naira ended the month weaker, despite a surge in dollar supply amounting to $4.60 billion in the official foreign exchange market.

The FX market closed for the month on Friday with the naira losing 5.60per cent as the dollar was quoted at N1,485.99, weaker than N1,402.67 quoted at the beginning of the month, according to data from the FMDQ Securities Exchange Limited.

The foreign exchange market closed for May 2024, with the dollar selling for N1,470, weaker than N1,380 quoted at the beginning of the month.

The currency’s performance this week reflects a significant struggle to maintain its value amidst fluctuating forex turnover and investor sentiment.

Nigeria’s economy is heavily reliant on oil exports, which account for over 90 per cent of its foreign exchange earnings.

Financial experts noted that the decline in FX reserves had led to a weakening of the naira, Nigeria’s currency, which has been struggling against the US dollar.

The naira has lost over 50 per cent of its value against the dollar since the beginning of 2024, making it one of the worst-performing currencies in Africa.

Punch