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Buhari approves fresh N656bn support fund for 36 states

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Respite may be on the for the 36 states, as President Muhammadu Buhari has approved a fresh N656.112 billion Bridge Financing Facility to them.

Each will get N18.2billion to help them meet financial obligations, especially the previous budget support due for repayment.

This is part of the outcome of the National Economic Council (NEC) meeting on Thursday.

Presided over by Vice President Yemi Osinbajo, Governors, Ministers, Central Bank Governor, and other senior government officials attended.

Finance Minister, Zainab Ahmed, informed NEC that the Bridge Facility is being processed by the Central Bank of Nigeria (CBN).

The funds will be disbursed in six tranches over six months, with a 30-year tenor, and a 2-year moratorium at an interest rate of 9 percent.

At the NEC meeting on July 15, Ahmed said there would be deductions from state governments as repayment for the previous CBN bailout.

The states subsequently sought further support which brought about the idea of bridge financing.

READ  Buhari to Nigerians: Give me 7 days for ‘major decision’ on naira scarcity

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UK local election: Boris Johnson turned away from polling station after forgetting valid ID

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Former prime minister of the UK, Boris Johnson, was turned away from his local polling station after forgetting to bring the required photo identity.

 

Johnson had joined locals in South Oxfordshire on Thursday to vote in the police and crime commissioner election.

Polling officials however told him he would not be allowed to vote without providing his identity.

There are 22 acceptable forms of ID in the UK including passports, driving licences, blue badges, and certain local travel cards.

 

As prime minister in 2022, Johnson introduced the Elections Act which requires photo ID — a development that sparked intense criticisms from Britons.

Last year, the Electoral Commission warned that the new law could exclude hundreds of thousands of people, including minorities and those with disabilities.

A spokesperson for Johnson confirmed he had forgotten the photo ID, but that he was able to cast his ballot after he returned with a valid ID.

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“Mr Johnson voted Conservative,” Sky News quoted the spokesperson as saying.

Downing Street said it would “look into” changing the controversial rules which require photo ID in order to vote, so that ID cards of veterans can be added to the list of valid identification.

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Governors can pay N615k minimum wage if they get priorities right – NLC

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President of the Nigeria Labour Congress (NLC), Joe Ajaero, says state governors can afford to pay the proposed N615,000 minimum wage if they get their priorities right.

Ajaero spoke on Thursday during an interview with Channels Television.

 

Recently, organised labour announced that the new minimum wage should be pegged at N615,000.

The proposal came amid ongoing minimum wage negotiations between federal and state governments on one hand, and organised labour on the other.

 

In 2019, the administration of former President Muhammadu Buhari pegged the national minimum wage at N30,000.

After the new minimum wage was announced at the time, it took some states forever to implement the increment.

 

Asked during the interview if organised labour’s proposal of N615,000 is realistic, Ajaero said the amount is the “most realistic” given the galloping inflation in the country.

 

The NLC president said organised labour considered factors like transportation, housing, and feeding before arriving at the sum.

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“If you are talking about being realistic, the N615,000 demand is the most realistic. Being realistic is not about slave wage,” Ajaero said.

 

“However, N30,000 is big money if inflation is brought down, and at a single digit.

“Look at the indices that create inflation. If you check them, you can talk about being realistic. All other factors in the country are going high and wages remain constant.”

 

Asked if states can afford the N615,000 proposal, the NLC president averred that it is not about ability to pay but the priorities of states.

“I think we need to understand the issues of ability to pay and not getting the priority right,” he added.

 

“Most of the states that have shown willingness to pay the current minimum wage are not among those getting the highest revenue.

“During the time of Muhammadu Buhari, some states were declared not having enough money to pay and he released funds for them to pay.

READ  Buhari to Nigerians: Give me 7 days for ‘major decision’ on naira scarcity

 

“Those states still refused to pay. It is not the question of either the quantum of money that they have or not, it is what they decide to do with such money.

 

“If they get their priorities right, then a lot can happen.”

 

Organised labour has also threatened to embark on a strike if a new minimum wage is not announced before May 31, 2024.

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15-yr-old Kwara public school student scores 362 in UTME

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A student of a public secondary school, Government Secondary School, Omu Aran, Kwara State, Olukayode Victor Olusola, scored 362 marks in this year’s Unified Tertiary Matriculation Examination, UTME, to be among the contenders for the highest scorers in the examination.

Though the Registrar of the Joint Admission and Matriculation Board, JAMB, Prof. Isaq Oloyede, organisers of the exam, had said the Board would not announce the highest scorer to avoid last year’s experience of confusing claims, Olukayode’s score is celebratory, as it is among the highest in recent years.

He scored 95 marks each in Mathematics, Physics and Chemistry and 77 in English Language.

 

His exploit is coming against the backdrop of the poor performance of candidates in the exam in which 1.4 million scored less than 200 marks out of 400. The exam was taken by over 1.8 million candidates

Also, Olukayode’s excellent performance is coming at a time when confidence is greatly eroding in what public schools have to offer and some private schools are boasting of being the most expensive in the country.

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Olukayode was born in 2009 and hopes to study Electrical Electronic at the University of Ilorin, Kwara State.

 

His mother, Beatrice Tosin, while giving all the honour to God, also praised the studious and hard working nature of her child.

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