1. The ongoing negotiations for a new minimum wage have deadlocked following the inability of the Federal Government and the organised labour to reach a consensus on the issue. President Bola Tinubu gave this indication in his speech during this year’s International Workers’ Day celebration in Abuja, on Wednesday.

2. The Federal Government says it will stop granting licences to gas companies with no capacity to build pipelines for gas distribution. This, the government said, became necessary to discourage the transportation of compressed natural gas through the roads.

3. The House of Representatives Committee on Petroleum Resources (Downstream and Midstream) has called on security agencies to pick up hoarders of the Premium Motor Spirit, also known as petrol. The committee also assured Nigerians of the availability of petrol in stock, stressing that the logistical challenges which made the product scarce were being addressed.

4. The Federal Government has assured workers in the country that the implementation of the new national minimum wage would still take effect from May 1, 2024. Mrs Nkeiruka Onyejeocha, Minister of State for Labour and Employment, gave the assurance during the commemoration of the May Day celebration, on Wednesday in Abuja.

5. Minister of Works, David Umahi, has announced that the federal government plans to pay N2.75 billion as compensation to property owners affected by the demolition required for the construction of the Lagos-Calabar Coastal Highway today, Wednesday, May 1. Umahi said that the highway is projected to stretch from channel 0 to channel 3.

6. Africa’s richest man, Aliko Dangote, has lamented that the devaluation of naira, Nigeria’s currency, was the biggest mess for his company in 2023. Dangote, the Chairman of the Dangote Industries Limited made this statement during the annual general meeting of Dangote Sugar Refinery Plc.

7. The National Secretary of the Independent Petroleum Marketers Association of Nigeria, IPMAN, James Tor, has cited the Israel-Iran crisis as a major cause of the current fuel scarcity in Nigeria. He noted that the current geopolitical tensions in the Middle East compounded existing challenges, leading to a bottleneck in the supply chain.

8. Minister of Works, Engr Dave Umahi, on Wednesday, accused the 2023 presidential candidate of Labour Party, Peter Obi, of inciting some of the people of South-East against the federal government over the Lagos-Calabar coastal highway project. He made the statement in reaction to the criticism by Obi that the project embarked on by Bola Tinubu’s administration is a job-losing one.

9. Governor Dauda Lawal of Zamfara State has pledged to decisively deal with workers receiving multiple salaries in the state civil service. The governor made the disclosure on Wednesday while speaking at the 2024 Workers’ Day celebration held in Gusau.

10. Tactical team of Kwara State police command has arrested three suspected cultists over the killing of the leader of another cult group, while manhunt has been launched to arrest other fleeing suspects involved in the inter cult attacks. Spokesperson of the command, DSP Ejire Adetoun Adeyemi who disclosed this in a statement made available to journalists in Ilorin yesterday, identified the suspects in police net as Sulaiman Ismail Mamud Ibrahim and Mudashir Saheed.

Aliko Dangote, chairman of Dangote Industries Limited, says the devaluation of naira created the biggest mess for the company in 2023.

Dangote spoke on Tuesday during the annual general meeting of Dangote Sugar Refinery Plc.

According to Dangote, the company is putting in efforts to ensure it pays dividends this year.

He said a lot of companies, especially in food and beverages businesses, were also affected and will be unable to pay dividends.

“We are doing whatever it takes to make sure that at the end of the day, we will be paying dividends because if you look at our dividends last year, it was almost 50 percent more so we will try and get out of the mess,” Dangote said.

“The biggest mess created was actually the devaluation of the naira from N460 to N1,400.

“You can see almost 97 percent of the companies, especially in food and beverages businesses, none of them will pay dividends this year for sure but, we will try and get out of it as soon as possible.

On April 19, Nascon announced the suspension of its proposed merger with Dangote Sugar.

Nascon said the merger was not completed due to the current non-operational status of Dangote Rice.

DANGOTE SUGAR TO END SUGAR IMPORTATION IN 2028

Dangote said the company’s sugar master plan will enable the producer to sell only locally produced sugar in the next four years.

According to the chairman, the implementation of the backward integration policy will give the company the best future in terms of stability and prevent issues relating to exchange rate losses.

“The sugar master plan we are now taking is very, very serious,” he said.

“But to say the least, the industry as a whole, did not really push as we are supposed to push in terms of the backward integration.

“We have done a lot, but we also have our fears because if there is no proper implementation, we do not want to go and sink a lot of your money and we end up losing money because if government is not following or making sure that everybody behaves, then we will not be able to make money. But right now, I think they have called us.

“We have sat down and I can assure you on our own, we think the best future of this company is through the backward integration.

“Because backward integration will actually give you much more forfeit and stability and it will erase all these exchange rate losses.

“So, by the grace of God, in the next four years maximum, our company should be producing what we are selling currently, all domestic, 100 percent domestic.”

However, Dangote said if any sugar is imported by the company, it will only be to complement what it is producing.

President Bola Tinubu says he is open to the idea of a “living wage” for Nigerian workers.

In a message to mark International Workers Day celebration at the Eagle Square, Tinubu, who was represented at the event by Vice-President Kashim Shettima, hailed Nigerian workers for their fidelity to the peace, progress, and development of the nation.

He also said the tripartite committee on a new minimum wage was yet to reach a resolution before May Day.

“You would recall that on January 30th, 2024, the Federal Government convened a 37-member Tripartite Committee on Minimum Wage,” the president said.

“The committee’s mandate was to provide counsel and suggest a national minimum wage that aligns with our current economic conditions.

“Since then, the committee, in collaboration with labour leaders, has been diligently working towards proposing a new National Minimum Wage.

“Unfortunately, despite concerted efforts, the committee was unable to reach a consensus at its last meeting. This shall be resolved soon and I assure you that your days of worrying are over.”

Organised labour has insisted on a new living wage for workers. In his address, Tinubu said he is open to the idea of a living wage, as opposed to a minimum wage.

“Indeed, this government is open to the committee’s suggestion of not just a minimum wage but a living wage,” the president added.

The president also asked workers to trust his administration.

“Great Nigerian Workers, we cannot achieve a just and equitable society that caters to the needs of every member, including the strong and the weak, without fostering peace and unity,” he said.

“Our shared vision for national growth and development can only be realised in an atmosphere of industrial harmony and peaceful coexistence in every segment of our country.

“Dividends we have promised the nation, and which you work tirelessly to ensure, can only be achieved when we all unite for progress.

“On this momentous day, I urge you and all our fellow citizens to place your trust in this administration. The seeds of greatness planted in our nation are beginning to bear fruit, and they promise a future filled with hope and bound by prosperity.

“Let me assure you, with the utmost sincerity, that every initiative undertaken by this administration is geared towards transforming Nigeria into a nation that can truly provide for its people.

“So, I call upon each and every one of you, as I have consistently done, to join hands in shaping the destiny of our nation towards greatness.

“Our allegiance and patriotism are the bedrock upon which our beloved country thrives. The success of our government’s policies and programmes hinges on the willingness of the workers, as the backbone of our workforce, to embrace them wholeheartedly.

“I appeal to you to continue using the power of the labour movement for the greater good of our nation, fostering harmony and cooperation.

“Once more, I extend my heartfelt congratulations on this successful Workers’ Day celebration, and I wish you all joyous festivities.”